Kennedy Capital Management LLC Sells 13,803 Shares of Origin Bancorp, Inc. (NASDAQ:OBK)

Kennedy Capital Management LLC trimmed its holdings in shares of Origin Bancorp, Inc. (NASDAQ:OBK) by 7.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 162,585 shares of the company’s stock after selling 13,803 shares during the period. Kennedy Capital Management LLC owned 0.52% of Origin Bancorp worth $5,079,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. bought a new stake in shares of Origin Bancorp during the third quarter worth approximately $45,900,000. Dimensional Fund Advisors LP bought a new stake in shares of Origin Bancorp during the fourth quarter worth approximately $27,498,000. Goldman Sachs Group Inc. bought a new stake in Origin Bancorp in the fourth quarter valued at approximately $20,935,000. Tributary Capital Management LLC increased its stake in Origin Bancorp by 6.1% in the first quarter. Tributary Capital Management LLC now owns 333,220 shares of the company’s stock valued at $10,410,000 after purchasing an additional 19,042 shares in the last quarter. Finally, King Luther Capital Management Corp bought a new stake in Origin Bancorp in the fourth quarter valued at approximately $8,814,000. 54.68% of the stock is owned by institutional investors.

Analysts Set New Price Targets

OBK has been the subject of several recent analyst reports. Keefe, Bruyette & Woods upped their target price on shares of Origin Bancorp from $38.00 to $39.00 and gave the company an “outperform” rating in a research note on Monday. Stephens reaffirmed an “overweight” rating and issued a $39.00 target price on shares of Origin Bancorp in a research note on Thursday, July 25th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $32.00 target price (up previously from $30.00) on shares of Origin Bancorp in a research note on Friday, April 26th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $36.00.

Origin Bancorp Stock Up 0.7 %

OBK traded up $0.25 during trading hours on Tuesday, hitting $34.75. 102,100 shares of the company’s stock were exchanged, compared to its average volume of 111,497. Origin Bancorp, Inc. has a 1-year low of $26.68 and a 1-year high of $37.56. The stock’s 50-day moving average is $31.84 and its two-hundred day moving average is $31.09. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of 13.04 and a beta of 1.00. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.16.

Origin Bancorp (NASDAQ:OBK) last issued its earnings results on Wednesday, July 24th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.05. The business had revenue of $164.26 million during the quarter, compared to the consensus estimate of $90.70 million. Origin Bancorp had a net margin of 13.18% and a return on equity of 8.03%. During the same period last year, the business posted $0.69 EPS. Sell-side analysts predict that Origin Bancorp, Inc. will post 2.64 earnings per share for the current fiscal year.

Origin Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Thursday, August 15th will be given a $0.15 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.73%. Origin Bancorp’s payout ratio is 22.64%.

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.