King Luther Capital Management Corp Invests $8.81 Million in Origin Bancorp, Inc. (NASDAQ:OBK)

King Luther Capital Management Corp purchased a new position in shares of Origin Bancorp, Inc. (NASDAQ:OBK) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 247,792 shares of the company’s stock, valued at approximately $8,814,000.

Several other hedge funds also recently modified their holdings of the business. Nisa Investment Advisors LLC acquired a new position in Origin Bancorp in the 4th quarter valued at $30,000. First Horizon Advisors Inc. acquired a new position in Origin Bancorp in the 4th quarter valued at $40,000. Quadrant Capital Group LLC acquired a new position in Origin Bancorp in the 4th quarter valued at $90,000. Amalgamated Bank acquired a new stake in Origin Bancorp in the 4th quarter worth $91,000. Finally, Brown Advisory Inc. acquired a new stake in Origin Bancorp in the 4th quarter worth $215,000. Institutional investors and hedge funds own 54.68% of the company’s stock.

Origin Bancorp Price Performance

OBK stock traded down $0.57 during trading on Wednesday, hitting $32.37. 31,081 shares of the stock traded hands, compared to its average volume of 108,898. Origin Bancorp, Inc. has a one year low of $26.68 and a one year high of $36.91. The stock has a market cap of $1.00 billion, a price-to-earnings ratio of 12.22 and a beta of 0.96. The company has a 50 day simple moving average of $30.61 and a 200 day simple moving average of $31.77. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.16.

Origin Bancorp (NASDAQ:OBK) last announced its earnings results on Thursday, April 25th. The company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.12. Origin Bancorp had a net margin of 13.66% and a return on equity of 8.17%. The company had revenue of $155.96 million during the quarter, compared to the consensus estimate of $88.80 million. During the same period in the previous year, the firm posted $0.79 earnings per share. Equities analysts expect that Origin Bancorp, Inc. will post 2.62 EPS for the current fiscal year.

Origin Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Wednesday, May 15th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date is Tuesday, May 14th. Origin Bancorp’s dividend payout ratio (DPR) is 22.64%.

Analyst Ratings Changes

Several analysts have issued reports on OBK shares. TheStreet lowered shares of Origin Bancorp from a “b-” rating to a “c+” rating in a research report on Wednesday, March 13th. Raymond James lifted their target price on shares of Origin Bancorp from $33.00 to $34.00 and gave the company an “outperform” rating in a research report on Friday, January 26th. Finally, Piper Sandler reiterated a “neutral” rating and set a $32.00 target price (up from $30.00) on shares of Origin Bancorp in a research report on Friday, April 26th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $33.33.

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.