Origin Bancorp (NASDAQ:OBK) Trading Up 4.8% After Dividend Announcement

Origin Bancorp, Inc. (NASDAQ:OBK - Get Free Report)'s stock price rose 4.8% on Thursday following a dividend announcement from the company. The company traded as high as $36.64 and last traded at $37.04. Approximately 18,012 shares traded hands during trading, a decline of 86% from the average daily volume of 127,608 shares. The stock had previously closed at $35.36.

The newly announced dividend which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.59%. The ex-dividend date is Friday, February 14th. Origin Bancorp's dividend payout ratio is presently 24.39%.

Wall Street Analyst Weigh In

OBK has been the topic of several research reports. Raymond James restated a "strong-buy" rating and issued a $44.00 price target (up previously from $40.00) on shares of Origin Bancorp in a research report on Friday. Keefe, Bruyette & Woods boosted their price objective on shares of Origin Bancorp from $37.00 to $42.00 and gave the company an "outperform" rating in a research report on Wednesday, December 4th. Piper Sandler boosted their price objective on shares of Origin Bancorp from $35.00 to $42.00 and gave the company a "neutral" rating in a research report on Friday. DA Davidson cut their price objective on shares of Origin Bancorp from $41.00 to $38.00 and set a "buy" rating on the stock in a research report on Tuesday, November 5th. Finally, Stephens restated an "overweight" rating and issued a $42.00 price target on shares of Origin Bancorp in a report on Thursday. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Origin Bancorp presently has an average rating of "Buy" and a consensus target price of $41.60.

Origin Bancorp Trading Up 1.8 %

The stock's 50 day moving average is $34.48 and its two-hundred day moving average is $33.25. The company has a market capitalization of $1.18 billion, a PE ratio of 15.34 and a beta of 1.00. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.17.

Origin Bancorp (NASDAQ:OBK - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.06). The company had revenue of $160.25 million during the quarter, compared to analysts' expectations of $93.40 million. Origin Bancorp had a net margin of 12.34% and a return on equity of 6.91%. During the same period in the previous year, the business earned $0.71 earnings per share. As a group, sell-side analysts predict that Origin Bancorp, Inc. will post 2.43 EPS for the current fiscal year.

Hedge Funds Weigh In On Origin Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. acquired a new position in Origin Bancorp in the 3rd quarter worth approximately $30,000. Brooklyn Investment Group acquired a new stake in shares of Origin Bancorp during the 4th quarter worth approximately $48,000. Quantbot Technologies LP grew its stake in shares of Origin Bancorp by 78.1% during the 3rd quarter. Quantbot Technologies LP now owns 2,706 shares of the company's stock worth $87,000 after purchasing an additional 1,187 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Origin Bancorp during the 3rd quarter worth approximately $160,000. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of Origin Bancorp during the 4th quarter worth approximately $219,000. Institutional investors and hedge funds own 54.68% of the company's stock.

About Origin Bancorp

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.