Allspring Global Investments Holdings LLC Buys New Stake in Origin Bancorp, Inc. $OBK

Allspring Global Investments Holdings LLC bought a new stake in Origin Bancorp, Inc. (NYSE:OBK) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 13,502 shares of the company’s stock, valued at approximately $483,000.

A number of other hedge funds have also recently modified their holdings of OBK. Hotchkis & Wiley Capital Management LLC purchased a new position in shares of Origin Bancorp in the 1st quarter valued at $8,637,000. Nuveen LLC purchased a new stake in Origin Bancorp in the first quarter valued at approximately $4,357,000. Argent Advisors Inc. lifted its stake in Origin Bancorp by 870.3% in the first quarter. Argent Advisors Inc. now owns 109,767 shares of the company’s stock valued at $3,806,000 after buying an additional 98,454 shares during the last quarter. American Century Companies Inc. lifted its stake in Origin Bancorp by 12.3% in the first quarter. American Century Companies Inc. now owns 674,593 shares of the company’s stock valued at $23,388,000 after buying an additional 73,668 shares during the last quarter. Finally, Jane Street Group LLC raised its position in Origin Bancorp by 97.9% in the 1st quarter. Jane Street Group LLC now owns 117,954 shares of the company’s stock valued at $4,089,000 after purchasing an additional 58,340 shares during the last quarter. 54.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on OBK shares. Keefe, Bruyette & Woods increased their price target on shares of Origin Bancorp from $41.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, July 28th. DA Davidson upgraded shares of Origin Bancorp to a “strong-buy” rating in a research note on Monday, October 20th. Wall Street Zen cut shares of Origin Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, October 11th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Origin Bancorp in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $43.20.

Origin Bancorp Stock Performance

Shares of Origin Bancorp stock opened at $33.40 on Friday. The stock has a market cap of $1.04 billion, a P/E ratio of 17.49 and a beta of 0.79. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.98 and a current ratio of 0.98. Origin Bancorp, Inc. has a one year low of $28.80 and a one year high of $41.17. The stock’s fifty day moving average price is $35.90.

Origin Bancorp (NYSE:OBK) last announced its quarterly earnings data on Wednesday, October 22nd. The company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.62). The firm had revenue of $109.83 million for the quarter, compared to analysts’ expectations of $103.95 million. Origin Bancorp had a return on equity of 5.09% and a net margin of 10.23%.

Origin Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, November 14th. This represents a $0.60 dividend on an annualized basis and a yield of 1.8%. Origin Bancorp’s dividend payout ratio is presently 31.41%.

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, 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.