Wakefield Asset Management LLLP Takes $902,000 Position in Origin Bancorp, Inc. (NASDAQ:OBK)

Wakefield Asset Management LLLP bought a new position in Origin Bancorp, Inc. (NASDAQ:OBK) in the second quarter, HoldingsChannel.com reports. The fund bought 28,438 shares of the company’s stock, valued at approximately $902,000.

Other hedge funds have also added to or reduced their stakes in the company. Swiss National Bank purchased a new stake in Origin Bancorp during the fourth quarter valued at approximately $2,055,000. Dimensional Fund Advisors LP bought a new stake in Origin Bancorp during the fourth quarter valued at about $27,498,000. King Luther Capital Management Corp purchased a new stake in Origin Bancorp in the fourth quarter worth about $8,814,000. GSA Capital Partners LLP bought a new position in shares of Origin Bancorp in the first quarter worth about $457,000. Finally, Victory Capital Management Inc. purchased a new stake in Origin Bancorp in the 4th quarter worth approximately $1,135,000. 54.68% of the stock is currently owned by hedge funds and other institutional investors.

Origin Bancorp Stock Down 1.4 %

OBK opened at $31.75 on Friday. Origin Bancorp, Inc. has a 52 week low of $26.68 and a 52 week high of $37.56. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.18. The firm has a 50-day simple moving average of $32.70 and a two-hundred day simple moving average of $31.21. The company has a market capitalization of $984.73 million, a PE ratio of 11.98 and a beta of 1.00.

Origin Bancorp (NASDAQ:OBK) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.05. Origin Bancorp had a return on equity of 7.94% and a net margin of 13.18%. The company had revenue of $164.26 million during the quarter, compared to analyst estimates of $90.70 million. During the same period in the prior year, the company earned $0.69 earnings per share. Analysts forecast that Origin Bancorp, Inc. will post 2.6 earnings per share for the current fiscal year.

Origin Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Thursday, August 15th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend was Thursday, August 15th. Origin Bancorp’s dividend payout ratio is presently 22.64%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Stephens reaffirmed an “overweight” rating and issued a $39.00 target price on shares of Origin Bancorp in a report on Thursday, July 25th. Keefe, Bruyette & Woods lifted their target price on Origin Bancorp from $38.00 to $39.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Origin Bancorp has an average rating of “Moderate Buy” and a consensus target price of $36.00.

Origin Bancorp Company 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.