Bank of New York Mellon Corp boosted its stake in Origin Bancorp, Inc. (NASDAQ:OBK – Free Report) by 4.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 136,072 shares of the company’s stock after purchasing an additional 5,767 shares during the period. Bank of New York Mellon Corp owned approximately 0.44% of Origin Bancorp worth $4,316,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in OBK. Quadrant Capital Group LLC purchased a new position in shares of Origin Bancorp in the fourth quarter valued at $90,000. Amalgamated Bank acquired a new position in Origin Bancorp in the 4th quarter worth $91,000. Beaird Harris Wealth Management LLC purchased a new position in Origin Bancorp in the 4th quarter valued at about $176,000. Brown Advisory Inc. acquired a new stake in shares of Origin Bancorp during the fourth quarter valued at about $215,000. Finally, Tyche Wealth Partners LLC purchased a new stake in shares of Origin Bancorp during the second quarter worth about $202,000. 54.68% of the stock is owned by hedge funds and other institutional investors.
Origin Bancorp Stock Up 3.6 %
Origin Bancorp stock opened at $32.43 on Friday. The company has a market capitalization of $1.01 billion, a P/E ratio of 12.24 and a beta of 0.99. Origin Bancorp, Inc. has a 1-year low of $26.68 and a 1-year high of $37.56. The firm’s fifty day simple moving average is $32.74 and its 200-day simple moving average is $31.28. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.18.
Origin Bancorp Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Thursday, August 15th were issued a $0.15 dividend. The ex-dividend date was Thursday, August 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.85%. Origin Bancorp’s dividend payout ratio is 22.64%.
Wall Street Analysts Forecast Growth
Several equities analysts have recently commented on the stock. Stephens restated an “overweight” rating and set a $39.00 price target on shares of Origin Bancorp in a research report on Thursday, July 25th. Keefe, Bruyette & Woods upped their price objective on shares of Origin Bancorp from $38.00 to $39.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.00.
Get Our Latest Research Report on OBK
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.
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