Empowered Funds LLC Raises Stake in Origin Bancorp, Inc. (NASDAQ:OBK)

Empowered Funds LLC increased its stake in Origin Bancorp, Inc. (NASDAQ:OBK) by 5.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 85,485 shares of the company’s stock after purchasing an additional 4,288 shares during the quarter. Empowered Funds LLC owned 0.27% of Origin Bancorp worth $2,749,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in OBK. Pitcairn Co. grew its holdings in Origin Bancorp by 7.8% in the first quarter. Pitcairn Co. now owns 6,685 shares of the company’s stock valued at $209,000 after purchasing an additional 485 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Origin Bancorp by 5.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,419 shares of the company’s stock valued at $362,000 after acquiring an additional 599 shares during the last quarter. nVerses Capital LLC acquired a new position in Origin Bancorp during the second quarter worth about $25,000. Harbor Capital Advisors Inc. lifted its holdings in shares of Origin Bancorp by 12.3% in the third quarter. Harbor Capital Advisors Inc. now owns 8,889 shares of the company’s stock valued at $286,000 after purchasing an additional 977 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Origin Bancorp by 14.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,359 shares of the company’s stock valued at $262,000 after purchasing an additional 1,079 shares during the last quarter. Institutional investors and hedge funds own 54.68% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on OBK. DA Davidson cut their price objective on Origin Bancorp from $41.00 to $38.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Keefe, Bruyette & Woods increased their price objective on Origin Bancorp from $38.00 to $39.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Finally, Stephens lifted their price objective on Origin Bancorp from $37.00 to $38.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Origin Bancorp currently has an average rating of “Moderate Buy” and a consensus target price of $36.20.

Origin Bancorp Price Performance

Shares of NASDAQ:OBK opened at $34.06 on Wednesday. The company has a market cap of $1.06 billion, a P/E ratio of 14.03 and a beta of 0.98. The business has a fifty day simple moving average of $32.45 and a 200-day simple moving average of $32.17. Origin Bancorp, Inc. has a 52 week low of $27.69 and a 52 week high of $37.56. 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) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.06). Origin Bancorp had a net margin of 12.12% and a return on equity of 7.36%. The business had revenue of $160.25 million during the quarter, compared to analysts’ expectations of $93.40 million. During the same quarter last year, the firm earned $0.71 EPS. Equities research analysts forecast that Origin Bancorp, Inc. will post 2.46 EPS for the current year.

Origin Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a $0.15 dividend. The ex-dividend date is Friday, November 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.76%. Origin Bancorp’s dividend payout ratio (DPR) is presently 24.69%.

Origin Bancorp 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.