PNC Financial Services Group Inc. Makes New $237,000 Investment in Origin Bancorp, Inc. (NASDAQ:OBK)

PNC Financial Services Group Inc. acquired a new stake in Origin Bancorp, Inc. (NASDAQ:OBK) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 6,675 shares of the company’s stock, valued at approximately $237,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nisa Investment Advisors LLC purchased a new stake in shares of Origin Bancorp in the fourth quarter valued at $30,000. First Horizon Advisors Inc. purchased a new stake in shares of Origin Bancorp in the fourth quarter valued at $40,000. Public Employees Retirement System of Ohio purchased a new stake in Origin Bancorp during the fourth quarter valued at about $87,000. Quadrant Capital Group LLC purchased a new stake in Origin Bancorp during the fourth quarter valued at about $90,000. Finally, Amalgamated Bank purchased a new stake in Origin Bancorp during the fourth quarter valued at about $91,000. Hedge funds and other institutional investors own 54.68% of the company’s stock.

Origin Bancorp Trading Down 0.9 %

Shares of OBK opened at $31.43 on Tuesday. The stock’s 50-day moving average is $31.07 and its two-hundred day moving average is $31.25. The stock has a market cap of $974.64 million, a PE ratio of 11.86 and a beta of 1.00. Origin Bancorp, Inc. has a 12 month low of $26.68 and a 12 month high of $36.91. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.96 and a quick ratio of 0.96.

Origin Bancorp (NASDAQ:OBK) last issued its quarterly earnings data on Thursday, April 25th. The company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.12. The company had revenue of $155.96 million for the quarter, compared to analysts’ expectations of $88.80 million. Origin Bancorp had a return on equity of 8.17% and a net margin of 13.66%. During the same quarter in the previous year, the firm posted $0.79 earnings per share. Equities analysts forecast that Origin Bancorp, Inc. will post 2.65 earnings per share for the current fiscal year.

Origin Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend was Tuesday, May 14th. Origin Bancorp’s dividend payout ratio is presently 22.64%.

Analysts Set New Price Targets

OBK has been the subject of a number of research reports. TheStreet downgraded Origin Bancorp from a “b-” rating to a “c+” rating in a research report on Wednesday, March 13th. Piper Sandler reissued a “neutral” rating and set a $32.00 price target (up previously from $30.00) on shares of Origin Bancorp in a research report on Friday, April 26th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Origin Bancorp presently has a consensus rating of “Moderate Buy” and a consensus 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.