Summit Global Investments lifted its position in Origin Bancorp, Inc. (NASDAQ:OBNK – Get Rating) by 2.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,100 shares of the company's stock after acquiring an additional 400 shares during the quarter. Summit Global Investments owned 0.07% of Origin Bancorp worth $773,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently made changes to their positions in OBNK. Lazard Asset Management LLC raised its holdings in Origin Bancorp by 59.6% in the first quarter. Lazard Asset Management LLC now owns 967 shares of the company's stock worth $40,000 after purchasing an additional 361 shares in the last quarter. Quantbot Technologies LP bought a new position in Origin Bancorp in the first quarter worth about $42,000. Great West Life Assurance Co. Can bought a new position in Origin Bancorp in the third quarter worth about $41,000. First Horizon Advisors Inc. raised its holdings in Origin Bancorp by 67.0% in the third quarter. First Horizon Advisors Inc. now owns 1,670 shares of the company's stock worth $63,000 after purchasing an additional 670 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Origin Bancorp by 75.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,907 shares of the company's stock worth $73,000 after purchasing an additional 821 shares in the last quarter. 47.20% of the stock is currently owned by institutional investors.
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Origin Bancorp Stock Performance
OBNK opened at $34.69 on Friday. Origin Bancorp, Inc. has a 52-week low of $34.61 and a 52-week high of $47.28. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.89. The company has a market cap of $1.07 billion, a P/E ratio of 10.54 and a beta of 0.92. The firm's 50-day moving average price is $37.92 and its 200-day moving average price is $39.34.
Origin Bancorp (NASDAQ:OBNK – Get Rating) last issued its earnings results on Wednesday, January 25th. The company reported $0.95 EPS for the quarter, missing analysts' consensus estimates of $0.99 by ($0.04). The firm had revenue of $98.18 million during the quarter, compared to analysts' expectations of $103.20 million. Origin Bancorp had a net margin of 22.85% and a return on equity of 11.03%. As a group, equities analysts anticipate that Origin Bancorp, Inc. will post 3.8 EPS for the current fiscal year.
Origin Bancorp Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, February 28th. Investors of record on Wednesday, February 15th were given a $0.15 dividend. The ex-dividend date was Tuesday, February 14th. This represents a $0.60 dividend on an annualized basis and a yield of 1.73%. Origin Bancorp's dividend payout ratio is currently 18.24%.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on OBNK shares. Piper Sandler downgraded shares of Origin Bancorp from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $46.00 to $41.00 in a report on Friday, January 27th. Raymond James downgraded shares of Origin Bancorp from a "strong-buy" rating to an "outperform" rating and cut their price objective for the company from $45.00 to $43.00 in a report on Tuesday, February 21st.
Insider Activity at Origin Bancorp
In other news, Director Michael Aubrey Jones bought 1,000 shares of the company's stock in a transaction that occurred on Monday, January 30th. The shares were purchased at an average price of $37.00 per share, for a total transaction of $37,000.00. Following the completion of the transaction, the director now directly owns 208,793 shares in the company, valued at $7,725,341. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 6.26% of the stock is owned by insiders.
Origin Bancorp Profile
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Origin Bancorp, Inc is a bank holding company, which engages in the provision of financial services to small and medium-sized businesses, municipalities, high net worth individuals, and retail clients. The firm's products and services include lending, deposits, mortgage banking, and insurance. It also offers other banking services such as Internet banking and voice response information, mobile applications, cash management, overdraft protection, direct deposit, safe deposit boxes, U.S.
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