Victory Capital Management Inc. Reduces Stock Position in Origin Bancorp, Inc. (NASDAQ:OBK)

Victory Capital Management Inc. reduced its position in shares of Origin Bancorp, Inc. (NASDAQ:OBK) by 2.9% in the first quarter, HoldingsChannel.com reports. The firm owned 40,180 shares of the company’s stock after selling 1,189 shares during the period. Victory Capital Management Inc.’s holdings in Origin Bancorp were worth $1,393,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of OBK. Sterling Capital Management LLC lifted its holdings in Origin Bancorp by 812.6% in the fourth quarter. Sterling Capital Management LLC now owns 940 shares of the company’s stock worth $31,000 after buying an additional 837 shares during the period. CWM LLC lifted its holdings in Origin Bancorp by 44.8% in the first quarter. CWM LLC now owns 1,018 shares of the company’s stock worth $35,000 after buying an additional 315 shares during the period. Nisa Investment Advisors LLC lifted its holdings in Origin Bancorp by 46.7% in the first quarter. Nisa Investment Advisors LLC now owns 1,257 shares of the company’s stock worth $44,000 after buying an additional 400 shares during the period. Comerica Bank lifted its holdings in Origin Bancorp by 13.0% in the fourth quarter. Comerica Bank now owns 3,008 shares of the company’s stock worth $100,000 after buying an additional 347 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in Origin Bancorp by 66,933.3% in the first quarter. GAMMA Investing LLC now owns 4,022 shares of the company’s stock worth $139,000 after buying an additional 4,016 shares during the period. 54.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Piper Sandler upgraded shares of Origin Bancorp from a “neutral” rating to an “overweight” rating in a report on Thursday, April 24th. Raymond James Financial lowered Origin Bancorp from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the company from $44.00 to $39.00 in a research report on Wednesday, April 2nd. DA Davidson lifted their price objective on Origin Bancorp from $41.00 to $45.00 and gave the company a “buy” rating in a research note on Monday. Finally, Keefe, Bruyette & Woods lifted their price objective on Origin Bancorp from $41.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $43.20.

Origin Bancorp Stock Down 1.5%

Shares of NASDAQ:OBK opened at $37.13 on Thursday. The stock has a fifty day simple moving average of $35.92 and a two-hundred day simple moving average of $35.34. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of 15.09 and a beta of 0.83. Origin Bancorp, Inc. has a 12-month low of $28.80 and a 12-month high of $41.17. 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.60 dividend on an annualized basis and a yield of 1.62%. Origin Bancorp’s payout ratio is currently 26.79%.

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.