Origin Bancorp (NASDAQ:OBK) Sees Unusually-High Trading Volume – Here’s Why

Origin Bancorp, Inc. (NASDAQ:OBK) shares saw an uptick in trading volume on Wednesday . 62,641 shares traded hands during trading, a decline of 41% from the previous session’s volume of 106,480 shares.The stock last traded at $35.55 and had previously closed at $34.29.

Wall Street Analyst Weigh In

OBK has been the subject of a number of analyst reports. Stephens boosted their price target on Origin Bancorp from $37.00 to $38.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. DA Davidson lowered their price target on Origin Bancorp from $41.00 to $38.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Raymond James raised Origin Bancorp from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, December 19th. Finally, Keefe, Bruyette & Woods raised their target price on Origin Bancorp from $37.00 to $42.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $36.80.

Origin Bancorp Stock Performance

The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market capitalization of $1.08 billion, a P/E ratio of 14.29 and a beta of 1.00. The firm has a 50 day moving average price of $34.44 and a two-hundred day moving average price of $33.07.

Origin Bancorp (NASDAQ:OBK) last announced its earnings results on Wednesday, October 23rd. The company reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.06). The company had revenue of $160.25 million for the quarter, compared to analyst estimates of $93.40 million. Origin Bancorp had a return on equity of 7.36% and a net margin of 12.12%. During the same quarter in the previous year, the company posted $0.71 earnings per share. On average, research analysts expect that Origin Bancorp, Inc. will post 2.46 earnings per share for the current fiscal year.

Origin Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a $0.15 dividend. The ex-dividend date was Friday, November 15th. This represents a $0.60 annualized dividend and a dividend yield of 1.73%. Origin Bancorp’s dividend payout ratio (DPR) is currently 24.69%.

Hedge Funds Weigh In On Origin Bancorp

Several large investors have recently made changes to their positions in the company. Barclays PLC increased its position in shares of Origin Bancorp by 79.9% in the 3rd quarter. Barclays PLC now owns 78,187 shares of the company’s stock valued at $2,515,000 after buying an additional 34,733 shares in the last quarter. State Street Corp lifted its stake in Origin Bancorp by 2.0% in the third quarter. State Street Corp now owns 844,151 shares of the company’s stock valued at $27,148,000 after buying an additional 16,309 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Origin Bancorp by 1.4% in the third quarter. Geode Capital Management LLC now owns 673,189 shares of the company’s stock valued at $21,654,000 after buying an additional 9,435 shares during the period. International Assets Investment Management LLC increased its position in shares of Origin Bancorp by 3,116.0% during the third quarter. International Assets Investment Management LLC now owns 24,281 shares of the company’s stock worth $755,000 after acquiring an additional 23,526 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Origin Bancorp by 27.6% during the third quarter. Franklin Resources Inc. now owns 71,321 shares of the company’s stock worth $2,302,000 after acquiring an additional 15,405 shares during the period. Institutional investors and hedge funds own 54.68% of the company’s stock.

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.