Rafferty Asset Management LLC Acquires 9,009 Shares of Origin Bancorp, Inc. $OBK

Rafferty Asset Management LLC raised its holdings in shares of Origin Bancorp, Inc. (NASDAQ:OBK) by 59.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,103 shares of the company’s stock after purchasing an additional 9,009 shares during the quarter. Rafferty Asset Management LLC owned 0.08% of Origin Bancorp worth $836,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of OBK. Hotchkis & Wiley Capital Management LLC bought a new stake in Origin Bancorp during the 1st quarter valued at $8,637,000. Nuveen LLC bought a new stake in Origin Bancorp during the 1st quarter valued at $4,357,000. Deprince Race & Zollo Inc. bought a new stake in Origin Bancorp during the 4th quarter valued at $3,836,000. Argent Advisors Inc. increased its stake in Origin Bancorp by 870.3% during the 1st quarter. Argent Advisors Inc. now owns 109,767 shares of the company’s stock valued at $3,806,000 after purchasing an additional 98,454 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in Origin Bancorp by 12.3% during the 1st quarter. American Century Companies Inc. now owns 674,593 shares of the company’s stock valued at $23,388,000 after purchasing an additional 73,668 shares in the last quarter. Institutional investors own 54.68% of the company’s stock.

Origin Bancorp Price Performance

OBK opened at $38.89 on Tuesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.97 and a quick ratio of 0.97. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of 15.81 and a beta of 0.81. The firm’s fifty day moving average price is $37.20 and its two-hundred day moving average price is $35.21. Origin Bancorp, Inc. has a 1 year low of $28.80 and a 1 year high of $41.17.

Origin Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, August 15th. Origin Bancorp’s payout ratio is 26.79%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on OBK shares. Keefe, Bruyette & Woods boosted their price target on shares of Origin Bancorp from $41.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, July 28th. DA Davidson lifted their price objective on shares of Origin Bancorp from $41.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, July 28th. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Origin Bancorp currently has an average rating of “Buy” and a consensus target price of $43.20.

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.