Basswood Capital Management L.L.C. Invests $21.39 Million in Origin Bancorp, Inc. $OBK

Basswood Capital Management L.L.C. purchased a new position in shares of Origin Bancorp, Inc. (NYSE:OBK) during the 2nd quarter, Holdings Channel.com reports. The firm purchased 418,193 shares of the company’s stock, valued at approximately $21,391,000.

A number of other hedge funds have also added to or reduced their stakes in the company. Quarry LP acquired a new position in Origin Bancorp during the third quarter valued at approximately $25,000. Kestra Advisory Services LLC acquired a new stake in shares of Origin Bancorp in the 4th quarter valued at $27,000. International Assets Investment Management LLC bought a new position in shares of Origin Bancorp in the 4th quarter valued at $30,000. Allworth Financial LP acquired a new position in shares of Origin Bancorp during the 2nd quarter worth $30,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of Origin Bancorp by 232.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,620 shares of the company’s stock worth $94,000 after buying an additional 1,832 shares during the last quarter. 54.68% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

OBK has been the topic of a number of recent analyst reports. DA Davidson lifted their target price on Origin Bancorp from $53.00 to $62.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Keefe, Bruyette & Woods lifted their price target on shares of Origin Bancorp from $57.00 to $60.00 and gave the company an “outperform” rating in a report on Tuesday, August 4th. Raymond James Financial reiterated an “outperform” rating on shares of Origin Bancorp in a research report on Thursday, July 23rd. Piper Sandler raised their target price on shares of Origin Bancorp from $55.00 to $56.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Finally, Weiss Ratings raised shares of Origin Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, August 21st. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.00.

Origin Bancorp Stock Up 0.7%

Shares of NYSE OBK opened at $53.27 on Thursday. The company has a 50 day simple moving average of $52.51 and a 200 day simple moving average of $47.41. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.98 and a quick ratio of 0.98. Origin Bancorp, Inc. has a 1 year low of $32.13 and a 1 year high of $55.57. The firm has a market cap of $1.64 billion, a PE ratio of 16.65 and a beta of 0.72.

Origin Bancorp (NYSE:OBK) last posted its earnings results on Wednesday, July 22nd. The company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. Origin Bancorp had a net margin of 16.26% and a return on equity of 7.97%. The firm had revenue of $107.59 million for the quarter. On average, research analysts forecast that Origin Bancorp, Inc. will post 4.13 EPS for the current year.

Origin Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 14th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.9%. Origin Bancorp’s payout ratio is currently 31.25%.

About Origin Bancorp

Origin Bancorp, Inc (NYSE: OBK) is a bank holding company based in Atlanta, Georgia, and is the parent of Origin Bank, a full-service commercial banking franchise. The company provides a broad range of financial products and services to individuals, small and middle-market businesses, and institutional clients across the southeastern United States.

Through Origin Bank, the company offers a variety of deposit products, including checking and savings accounts, money market accounts, and certificates of deposit.