Origin Bancorp (NASDAQ:OBK) Stock Price Down 4.3% Following Weak Earnings

Origin Bancorp, Inc. (NASDAQ:OBK)’s share price was down 4.3% on Thursday after the company announced weaker than expected quarterly earnings. The company traded as low as $30.64 and last traded at $30.75. Approximately 5,259 shares changed hands during trading, a decline of 95% from the average daily volume of 103,234 shares. The stock had previously closed at $32.13.

The company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.06). The business had revenue of $160.25 million for the quarter, compared to the consensus estimate of $93.40 million. Origin Bancorp had a return on equity of 7.94% and a net margin of 13.18%. During the same period in the previous year, the business posted $0.71 earnings per share.

Origin Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date is Friday, November 15th. Origin Bancorp’s payout ratio is 22.90%.

Wall Street Analysts Forecast Growth

OBK has been the topic of several recent analyst reports. Stephens boosted their price target on Origin Bancorp from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Friday. Keefe, Bruyette & Woods boosted their target price on shares of Origin Bancorp from $38.00 to $39.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Origin Bancorp currently has a consensus rating of “Moderate Buy” and an average target price of $35.75.

Hedge Funds Weigh In On Origin Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its position in Origin Bancorp by 11.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,023,197 shares of the company’s stock worth $32,454,000 after buying an additional 102,159 shares in the last quarter. Tributary Capital Management LLC grew its stake in shares of Origin Bancorp by 19.6% during the second quarter. Tributary Capital Management LLC now owns 398,486 shares of the company’s stock valued at $12,640,000 after purchasing an additional 65,266 shares during the last quarter. Stieven Capital Advisors L.P. bought a new stake in shares of Origin Bancorp during the second quarter valued at approximately $5,637,000. Bank of New York Mellon Corp raised its position in Origin Bancorp by 4.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 136,072 shares of the company’s stock worth $4,316,000 after purchasing an additional 5,767 shares during the last quarter. Finally, Great Lakes Advisors LLC lifted its holdings in Origin Bancorp by 11.3% during the 2nd quarter. Great Lakes Advisors LLC now owns 124,989 shares of the company’s stock worth $3,965,000 after buying an additional 12,737 shares in the last quarter. Institutional investors and hedge funds own 54.68% of the company’s stock.

Origin Bancorp Price Performance

The stock has a 50-day simple moving average of $32.10 and a 200 day simple moving average of $31.68. The stock has a market capitalization of $971.57 million, a P/E ratio of 11.91 and a beta of 0.99. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.97 and a current ratio of 0.97.

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.