Origin Bancorp (NYSE:OBK) Announces Earnings Results

Origin Bancorp (NYSE:OBK) issued its earnings results on Wednesday. The company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09, FiscalAI reports. The company had revenue of $107.59 million during the quarter. Origin Bancorp had a return on equity of 8.03% and a net margin of 16.26%.

Origin Bancorp Stock Up 1.8%

OBK stock opened at $53.46 on Friday. The business’s 50-day simple moving average is $49.58 and its 200 day simple moving average is $45.24. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.02. Origin Bancorp has a twelve month low of $32.13 and a twelve month high of $53.20. The company has a market cap of $1.65 billion, a PE ratio of 16.40 and a beta of 0.72.

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. This represents a $1.00 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, August 14th. Origin Bancorp’s dividend payout ratio is currently 38.76%.

Institutional Trading of Origin Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Origin Bancorp by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 1,753,530 shares of the company’s stock worth $65,950,000 after buying an additional 37,050 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Origin Bancorp by 3.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,425,220 shares of the company’s stock valued at $59,089,000 after purchasing an additional 49,001 shares during the period. State Street Corp boosted its position in shares of Origin Bancorp by 1.2% in the 4th quarter. State Street Corp now owns 923,148 shares of the company’s stock worth $34,720,000 after purchasing an additional 10,741 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Origin Bancorp by 17.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 797,576 shares of the company’s stock worth $29,997,000 after purchasing an additional 116,410 shares during the period. Finally, Kennedy Capital Management LLC increased its holdings in Origin Bancorp by 13.5% in the fourth quarter. Kennedy Capital Management LLC now owns 706,235 shares of the company’s stock valued at $26,561,000 after purchasing an additional 83,971 shares during the last quarter. 54.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on OBK. Stephens boosted their price objective on Origin Bancorp from $49.00 to $54.00 and gave the company an “overweight” rating in a research report on Friday, April 24th. Piper Sandler reiterated a “neutral” rating on shares of Origin Bancorp in a research note on Friday. Weiss Ratings raised shares of Origin Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, April 27th. Finally, Raymond James Financial restated an “outperform” rating on shares of Origin Bancorp in a research report on Thursday. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Origin Bancorp presently has an average rating of “Moderate Buy” and an average target price of $51.50.

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.