Origin Bancorp (NASDAQ:OBK) Stock Price Down 4.3% - Here's Why

Origin Bancorp, Inc. (NASDAQ:OBK - Get Free Report) dropped 4.3% during trading on Thursday . The company traded as low as $30.64 and last traded at $30.75. Approximately 5,259 shares traded hands during mid-day trading, a decline of 95% from the average daily volume of 103,234 shares. The stock had previously closed at $32.13.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on OBK. Keefe, Bruyette & Woods upped their price target on shares of Origin Bancorp from $38.00 to $39.00 and gave the stock an "outperform" rating in a research note on Monday, July 29th. Stephens reissued an "overweight" rating and issued a $39.00 target price on shares of Origin Bancorp in a report on Thursday, July 25th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $36.00.

Origin Bancorp Stock Performance

The firm has a market cap of $972.32 million, a P/E ratio of 11.83 and a beta of 0.99. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.97 and a current ratio of 0.97. The business's 50-day simple moving average is $32.11 and its 200 day simple moving average is $31.68.

Origin Bancorp (NASDAQ:OBK - Get Free Report) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.62 by $0.05. Origin Bancorp had a return on equity of 7.94% and a net margin of 13.18%. The company had revenue of $164.26 million during the quarter, compared to analyst estimates of $90.70 million. During the same quarter in the previous year, the company posted $0.69 earnings per share. As a group, equities analysts predict that Origin Bancorp, Inc. will post 2.61 earnings per share for the current year.

Origin Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.91%. Origin Bancorp's dividend payout ratio is currently 22.64%.

Institutional Trading of Origin Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GSA Capital Partners LLP bought a new stake in shares of Origin Bancorp during the 1st quarter valued at $457,000. Goldman Sachs Group Inc. purchased a new stake in Origin Bancorp in the fourth quarter worth about $20,935,000. Wakefield Asset Management LLLP purchased a new position in shares of Origin Bancorp during the 2nd quarter valued at about $902,000. Linscomb Wealth Inc. bought a new position in shares of Origin Bancorp during the 2nd quarter valued at approximately $614,000. Finally, Bailard Inc. bought a new position in shares of Origin Bancorp in the second quarter worth approximately $251,000. 54.68% of the stock is owned by hedge funds and other institutional investors.

Origin Bancorp Company Profile

Origin Bancorp, Inc operates as a bank holding company for Origin Bank that provides banking and financial services to small and medium-sized businesses, municipalities, and retail clients in Texas, Louisiana, and Mississippi. It offers noninterest and interest-bearing checking accounts, savings deposits, money market accounts, and time deposits; and offers commercial real estate, construction and land development, consumer, residential real estate, commercial and industrial, mortgage warehouse, and residential mortgage loans.