Meeder Asset Management Inc. Purchases Shares of 2,876 Origin Bancorp, Inc. (NASDAQ:OBK)

Meeder Asset Management Inc. purchased a new position in shares of Origin Bancorp, Inc. (NASDAQ:OBK) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 2,876 shares of the company’s stock, valued at approximately $91,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in OBK. Linscomb Wealth Inc. acquired a new position in shares of Origin Bancorp during the 2nd quarter worth about $614,000. Quest Partners LLC acquired a new position in Origin Bancorp during the second quarter worth approximately $270,000. Great Lakes Advisors LLC raised its stake in Origin Bancorp by 11.3% in the second quarter. Great Lakes Advisors LLC now owns 124,989 shares of the company’s stock valued at $3,965,000 after buying an additional 12,737 shares during the period. Wakefield Asset Management LLLP acquired a new stake in shares of Origin Bancorp in the second quarter valued at approximately $902,000. Finally, Victory Capital Management Inc. boosted its stake in shares of Origin Bancorp by 6.4% during the 2nd quarter. Victory Capital Management Inc. now owns 34,800 shares of the company’s stock worth $1,104,000 after acquiring an additional 2,100 shares during the period. Institutional investors own 54.68% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods increased their price target on Origin Bancorp from $38.00 to $39.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Stephens reissued an “overweight” rating and issued a $39.00 price objective on shares of Origin Bancorp in a research report on Thursday, July 25th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $36.00.

Origin Bancorp Stock Performance

NASDAQ:OBK opened at $32.40 on Friday. The stock has a 50 day simple moving average of $32.74 and a 200 day simple moving average of $31.30. The stock has a market cap of $1.01 billion, a P/E ratio of 12.23 and a beta of 0.99. Origin Bancorp, Inc. has a 1-year low of $26.68 and a 1-year high of $37.56. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.18.

Origin Bancorp (NASDAQ:OBK) last posted its earnings results on Wednesday, July 24th. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.05. Origin Bancorp had a return on equity of 7.94% and a net margin of 13.18%. The company had revenue of $164.26 million during the quarter, compared to the consensus estimate of $90.70 million. During the same quarter last year, the firm earned $0.69 earnings per share. Research analysts anticipate that Origin Bancorp, Inc. will post 2.6 earnings per share for the current year.

Origin Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Thursday, August 15th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date was Thursday, August 15th. Origin Bancorp’s dividend payout ratio is currently 22.64%.

Origin Bancorp 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.