Harbor Capital Advisors Inc. Increases Stock Position in Origin Bancorp, Inc. (NASDAQ:OBK)

Harbor Capital Advisors Inc. raised its holdings in shares of Origin Bancorp, Inc. (NASDAQ:OBK) by 25.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,664 shares of the company’s stock after purchasing an additional 1,969 shares during the period. Harbor Capital Advisors Inc.’s holdings in Origin Bancorp were worth $335,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of OBK. Franklin Resources Inc. increased its holdings in Origin Bancorp by 26.7% in the 4th quarter. Franklin Resources Inc. now owns 90,341 shares of the company’s stock worth $3,007,000 after buying an additional 19,020 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Origin Bancorp by 11.3% in the fourth quarter. American Century Companies Inc. now owns 600,925 shares of the company’s stock worth $20,005,000 after acquiring an additional 61,240 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Origin Bancorp by 156.7% during the fourth 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 last quarter. Price T Rowe Associates Inc. MD lifted its position in Origin Bancorp by 118.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,930 shares of the company’s stock valued at $697,000 after purchasing an additional 11,328 shares during the period. Finally, Deutsche Bank AG boosted its holdings in Origin Bancorp by 58.4% in the fourth quarter. Deutsche Bank AG now owns 26,818 shares of the company’s stock worth $893,000 after purchasing an additional 9,887 shares during the last quarter. Institutional investors own 54.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on OBK. Raymond James downgraded Origin Bancorp from a “strong-buy” rating to an “outperform” rating and dropped their price target for the stock from $44.00 to $39.00 in a research note on Wednesday, April 2nd. Piper Sandler raised shares of Origin Bancorp from a “neutral” rating to an “overweight” rating in a research report on Thursday, April 24th. Stephens reissued an “overweight” rating and issued a $45.00 price objective on shares of Origin Bancorp in a report on Thursday, March 20th. Finally, Keefe, Bruyette & Woods cut their target price on shares of Origin Bancorp from $44.00 to $41.00 and set an “outperform” rating for the company in a research report on Monday, April 28th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $42.20.

Origin Bancorp Trading Down 2.7%

Shares of Origin Bancorp stock opened at $34.29 on Friday. Origin Bancorp, Inc. has a fifty-two week low of $28.80 and a fifty-two week high of $41.17. 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 company has a market capitalization of $1.07 billion, a P/E ratio of 13.94 and a beta of 0.83. The company has a fifty day moving average of $32.72 and a 200 day moving average of $34.79.

Origin Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Thursday, May 15th were issued a $0.15 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.60 dividend on an annualized basis and a yield of 1.75%. Origin Bancorp’s dividend payout ratio is presently 24.59%.

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.