The Manufacturers Life Insurance Company Purchases New Holdings in Origin Bancorp, Inc. $OBK

The Manufacturers Life Insurance Company acquired a new position in Origin Bancorp, Inc. (NYSE:OBK) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 13,349 shares of the company’s stock, valued at approximately $683,000.

Several other large investors have also recently bought and sold shares of OBK. Allworth Financial LP acquired a new stake in shares of Origin Bancorp in the 2nd quarter valued at $30,000. Kestra Advisory Services LLC acquired a new position in shares of Origin Bancorp during the fourth quarter valued at $27,000. Quarry LP bought a new position in Origin Bancorp in the third quarter valued at about $25,000. International Assets Investment Management LLC bought a new position in Origin Bancorp in the fourth quarter valued at about $30,000. Finally, PNC Financial Services Group Inc. increased its position in Origin Bancorp by 42.7% in the first quarter. PNC Financial Services Group Inc. now owns 2,509 shares of the company’s stock worth $104,000 after purchasing an additional 751 shares during the period. Institutional investors and hedge funds own 54.68% of the company’s stock.

Origin Bancorp Price Performance

OBK opened at $54.48 on Monday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market capitalization of $1.68 billion, a P/E ratio of 17.02 and a beta of 0.71. Origin Bancorp, Inc. has a fifty-two week low of $32.13 and a fifty-two week high of $55.57. The stock has a fifty day moving average of $52.96 and a 200-day moving average of $47.86.

Origin Bancorp (NYSE:OBK) last issued its quarterly earnings results on Wednesday, July 22nd. The company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. The company had revenue of $107.59 million for the quarter. Origin Bancorp had a return on equity of 7.97% and a net margin of 16.26%. On average, equities analysts expect that Origin Bancorp, Inc. will post 4.13 EPS for the current year.

Origin Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, August 14th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, August 14th. Origin Bancorp’s payout ratio is presently 31.25%.

Analyst Upgrades and Downgrades

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

Origin Bancorp Company 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.