T. Rowe Price Investment Management Inc. Sells 187,218 Shares of Origin Bancorp, Inc. (NASDAQ:OBK)

T. Rowe Price Investment Management Inc. lowered its stake in Origin Bancorp, Inc. (NASDAQ:OBK - Free Report) by 6.8% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,550,352 shares of the company's stock after selling 187,218 shares during the period. T. Rowe Price Investment Management Inc. owned 8.18% of Origin Bancorp worth $84,902,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Franklin Resources Inc. raised its holdings in shares of Origin Bancorp by 26.7% during the fourth quarter. Franklin Resources Inc. now owns 90,341 shares of the company's stock valued at $3,007,000 after purchasing an additional 19,020 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Origin Bancorp by 80.8% in the third quarter. JPMorgan Chase & Co. now owns 72,986 shares of the company's stock worth $2,347,000 after purchasing an additional 32,619 shares during the period. American Century Companies Inc. increased its stake in Origin Bancorp by 11.3% in the 4th quarter. American Century Companies Inc. now owns 600,925 shares of the company's stock worth $20,005,000 after buying an additional 61,240 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Origin Bancorp by 156.7% during the 4th quarter. Bank of New York Mellon Corp now owns 319,919 shares of the company's stock valued at $10,650,000 after purchasing an additional 195,293 shares during the period. Finally, Barclays PLC raised its position in shares of Origin Bancorp by 79.9% during the third quarter. Barclays PLC now owns 78,187 shares of the company's stock valued at $2,515,000 after buying an additional 34,733 shares during the last quarter. Institutional investors own 54.68% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on OBK. Stephens reissued an "overweight" rating and set a $45.00 price target on shares of Origin Bancorp in a research note on Thursday, March 20th. DA Davidson raised their price objective on shares of Origin Bancorp from $41.00 to $44.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods dropped their price objective on Origin Bancorp from $44.00 to $41.00 and set an "outperform" rating for the company in a report on Monday. Piper Sandler upgraded Origin Bancorp from a "neutral" rating to an "overweight" rating in a research note on Thursday, April 24th. Finally, Raymond James downgraded Origin Bancorp from a "strong-buy" rating to an "outperform" rating and decreased their target price for the stock from $44.00 to $39.00 in a research report on Wednesday, April 2nd. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $42.20.

Origin Bancorp Trading Up 0.2 %

OBK traded up $0.07 during trading on Tuesday, hitting $31.95. 143,639 shares of the stock were exchanged, compared to its average volume of 122,236. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a 50 day simple moving average of $34.06 and a 200 day simple moving average of $34.71. The firm has a market cap of $998.09 million, a price-to-earnings ratio of 12.99 and a beta of 0.78. Origin Bancorp, Inc. has a 1 year low of $28.80 and a 1 year high of $41.17.

Origin Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Thursday, May 15th will be issued a $0.15 dividend. The ex-dividend date is Thursday, May 15th. This represents a $0.60 annualized dividend and a dividend yield of 1.88%. Origin Bancorp's payout ratio is currently 24.59%.

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.