Bank of New York Mellon Corp Sells 30,885 Shares of Origin Bancorp, Inc. (NASDAQ:OBK)

Bank of New York Mellon Corp cut its holdings in shares of Origin Bancorp, Inc. (NASDAQ:OBK) by 9.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 289,034 shares of the company’s stock after selling 30,885 shares during the period. Bank of New York Mellon Corp owned approximately 0.93% of Origin Bancorp worth $10,021,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Pitcairn Co. increased its stake in shares of Origin Bancorp by 4.2% during the fourth quarter. Pitcairn Co. now owns 8,577 shares of the company’s stock valued at $286,000 after buying an additional 343 shares during the period. Comerica Bank increased its holdings in Origin Bancorp by 13.0% during the fourth quarter. Comerica Bank now owns 3,008 shares of the company’s stock valued at $100,000 after buying an additional 347 shares during the period. Mariner LLC raised its stake in Origin Bancorp by 5.4% in the fourth quarter. Mariner LLC now owns 6,965 shares of the company’s stock worth $232,000 after buying an additional 356 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Origin Bancorp by 4.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,685 shares of the company’s stock valued at $555,000 after acquiring an additional 636 shares in the last quarter. Finally, LPL Financial LLC increased its holdings in shares of Origin Bancorp by 8.0% in the 4th quarter. LPL Financial LLC now owns 9,755 shares of the company’s stock valued at $325,000 after acquiring an additional 726 shares during the period. 54.68% of the stock is currently owned by hedge funds and other institutional investors.

Origin Bancorp Stock Performance

OBK opened at $37.87 on Tuesday. Origin Bancorp, Inc. has a 1-year low of $28.80 and a 1-year high of $41.17. The company’s fifty day moving average price is $35.33 and its two-hundred day moving average price is $35.12. The company has a market cap of $1.18 billion, a price-to-earnings ratio of 15.39 and a beta of 0.83. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.17.

Origin Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Thursday, May 15th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.58%. The ex-dividend date was Thursday, May 15th. Origin Bancorp’s dividend payout ratio is currently 24.59%.

Analyst Ratings Changes

Several analysts recently weighed in on OBK shares. Raymond James Financial downgraded shares of Origin Bancorp from a “strong-buy” rating to an “outperform” rating and dropped their target price for the company from $44.00 to $39.00 in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods decreased their price objective on Origin Bancorp from $44.00 to $41.00 and set an “outperform” rating on the stock in a research note on Monday, April 28th. Finally, Piper Sandler upgraded Origin Bancorp from a “neutral” rating to an “overweight” rating in a report on Thursday, April 24th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $42.20.

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.