Origin Bancorp (NASDAQ:OBNK) Announces Quarterly Earnings Results

Origin Bancorp (NASDAQ:OBNK – Get Rating) announced its earnings results on Wednesday. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.01, MarketWatch Earnings reports. Origin Bancorp had a net margin of 34.71% and a return on equity of 14.65%. During the same quarter last year, the firm earned $1.08 earnings per share.

Shares of NASDAQ OBNK traded down $1.62 during mid-day trading on Friday, hitting $37.68. The stock had a trading volume of 58,359 shares, compared to its average volume of 41,723. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.90 and a current ratio of 0.91. Origin Bancorp has a 1 year low of $37.40 and a 1 year high of $47.58. The business has a 50 day moving average price of $42.52 and a two-hundred day moving average price of $43.38. The firm has a market cap of $894.90 million, a P/E ratio of 8.60 and a beta of 0.99.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 31st. Investors of record on Tuesday, May 17th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.59%. This is an increase from Origin Bancorp’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Monday, May 16th. Origin Bancorp’s payout ratio is presently 11.87%.

A number of institutional investors have recently modified their holdings of OBNK. Morgan Stanley increased its position in Origin Bancorp by 36,244.9% during the 2nd quarter. Morgan Stanley now owns 42,887 shares of the company’s stock valued at $1,821,000 after purchasing an additional 42,769 shares during the period. Royal Bank of Canada increased its position in Origin Bancorp by 68.8% during the 3rd quarter. Royal Bank of Canada now owns 2,556 shares of the company’s stock valued at $109,000 after purchasing an additional 1,042 shares during the period. BNP Paribas Arbitrage SA increased its position in Origin Bancorp by 164.1% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 5,831 shares of the company’s stock valued at $247,000 after purchasing an additional 3,623 shares during the period. Bank of New York Mellon Corp increased its position in Origin Bancorp by 6.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 102,465 shares of the company’s stock valued at $4,340,000 after purchasing an additional 6,126 shares during the period. Finally, Bank of America Corp DE increased its position in Origin Bancorp by 90.6% during the 4th quarter. Bank of America Corp DE now owns 25,289 shares of the company’s stock valued at $1,085,000 after purchasing an additional 12,022 shares during the period. 54.73% of the stock is currently owned by institutional investors and hedge funds.

Separately, Zacks Investment Research lowered shares of Origin Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, March 2nd.

Origin Bancorp Company Profile (Get Rating)

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, high net worth individuals, 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, residential mortgage, and paycheck protection program loans.

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