The Manufacturers Life Insurance Company Buys New Shares in Origin Bancorp, Inc. $OBK

The Manufacturers Life Insurance Company purchased a new position in Origin Bancorp, Inc. (NYSE:OBK) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 13,349 shares of the company’s stock, valued at approximately $683,000.

A number of other large investors have also recently made changes to their positions in the business. Allworth Financial LP acquired a new position in shares of Origin Bancorp during the second quarter valued at about $30,000. Kestra Advisory Services LLC acquired a new stake in shares of Origin Bancorp in the 4th quarter worth about $27,000. Quarry LP bought a new position in Origin Bancorp in the 3rd quarter valued at about $25,000. International Assets Investment Management LLC bought a new position in Origin Bancorp in the 4th quarter valued at about $30,000. Finally, PNC Financial Services Group Inc. boosted its stake in Origin Bancorp by 42.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,509 shares of the company’s stock valued at $104,000 after purchasing an additional 751 shares during the last quarter. 54.68% of the stock is owned by institutional investors.

Origin Bancorp Price Performance

Shares of NYSE OBK opened at $54.48 on Monday. The stock has a market cap of $1.68 billion, a PE ratio of 17.02 and a beta of 0.71. Origin Bancorp, Inc. has a fifty-two week low of $32.13 and a fifty-two week high of $55.57. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a fifty day moving average of $52.96 and a 200-day moving average of $47.86.

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

Origin Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Friday, August 14th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Friday, August 14th. Origin Bancorp’s dividend payout ratio (DPR) is 31.25%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on OBK shares. Piper Sandler boosted their price objective on Origin Bancorp from $55.00 to $56.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Weiss Ratings raised Origin Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, August 21st. 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 upped their price target on Origin Bancorp from $57.00 to $60.00 and gave the stock an “outperform” rating in a report on Tuesday, August 4th. Finally, Raymond James Financial reissued an “outperform” rating on shares of Origin Bancorp in a research report on Thursday, July 23rd. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Origin Bancorp has an average rating of “Moderate Buy” and a consensus price target of $58.00.

About Origin Bancorp

Origin Bancorp, Inc (NYSE: OBK) is a bank holding company based in Ruston, Louisiana, 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.