Ieq Capital LLC Invests $872,000 in Origin Bancorp, Inc. $OBK

Ieq Capital LLC purchased a new stake in shares of Origin Bancorp, Inc. (NYSE:OBK) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 17,048 shares of the company’s stock, valued at approximately $872,000. Ieq Capital LLC owned about 0.06% of Origin Bancorp at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Origin Bancorp in the second quarter valued at approximately $132,196,000. Bank of New York Mellon Corp acquired a new stake in shares of Origin Bancorp in the second quarter valued at about $18,968,000. Millennium Management LLC lifted its position in Origin Bancorp by 438.9% during the third quarter. Millennium Management LLC now owns 301,217 shares of the company’s stock worth $10,398,000 after buying an additional 245,320 shares in the last quarter. Algebris UK Ltd. acquired a new position in Origin Bancorp in the 4th quarter valued at about $6,925,000. Finally, Nuveen LLC grew its holdings in shares of Origin Bancorp by 139.2% during the 4th quarter. Nuveen LLC now owns 275,721 shares of the company’s stock worth $10,370,000 after purchasing an additional 160,469 shares during the period. Institutional investors own 54.68% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Weiss Ratings upgraded Origin Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, August 21st. DA Davidson upped their price target on shares of Origin Bancorp from $53.00 to $62.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Piper Sandler increased their target price on Origin Bancorp from $55.00 to $56.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Raymond James Financial reiterated an “outperform” rating on shares of Origin Bancorp in a research report on Thursday, July 23rd. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Origin Bancorp from $57.00 to $60.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 4th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $58.00.

Origin Bancorp Price Performance

OBK traded down $0.25 during midday trading on Monday, reaching $53.00. 59,524 shares of the company’s stock were exchanged, compared to its average volume of 185,454. The business has a 50-day simple moving average of $52.67 and a two-hundred day simple moving average of $47.52. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.12. Origin Bancorp, Inc. has a one year low of $32.13 and a one year high of $55.57. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of 16.56 and a beta of 0.72.

Origin Bancorp (NYSE:OBK) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $1.09 EPS for the quarter, beating the consensus estimate of $1.00 by $0.09. Origin Bancorp had a net margin of 16.26% and a return on equity of 7.97%. The business had revenue of $107.59 million for the quarter. As a group, research analysts predict that Origin Bancorp, Inc. will post 4.13 EPS for the current year.

Origin Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, August 14th. Origin Bancorp’s dividend payout ratio is 31.25%.

Origin Bancorp Profile

Origin Bancorp, Inc (NYSE: OBK) is a bank holding company based in Ruston, Louisiana, and is the parent of Origin Bank, a full-service commercial banking franchise. The company provides a broad range of financial products and services to individuals, small and middle-market businesses, and institutional clients across the southeastern United States.

Through Origin Bank, the company offers a variety of deposit products, including checking and savings accounts, money market accounts, and certificates of deposit.