Cornerstone Capital Inc. Cuts Position in Origin Bancorp, Inc. (NASDAQ:OBK)

Cornerstone Capital Inc. lowered its holdings in Origin Bancorp, Inc. (NASDAQ:OBK) by 12.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,516 shares of the company’s stock after selling 3,000 shares during the period. Cornerstone Capital Inc. owned approximately 0.07% of Origin Bancorp worth $692,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in shares of Origin Bancorp by 11.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,023,197 shares of the company’s stock worth $32,454,000 after purchasing an additional 102,159 shares in the last quarter. Tributary Capital Management LLC raised 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 period. Stieven Capital Advisors L.P. acquired a new position in shares of Origin Bancorp during the second quarter worth $5,637,000. Bank of New York Mellon Corp boosted its stake in shares of Origin Bancorp by 4.4% in the second quarter. Bank of New York Mellon Corp now owns 136,072 shares of the company’s stock valued at $4,316,000 after purchasing an additional 5,767 shares during the period. Finally, Great Lakes Advisors LLC grew 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 valued at $3,965,000 after purchasing an additional 12,737 shares in the last quarter. Institutional investors and hedge funds own 54.68% of the company’s stock.

Origin Bancorp Stock Up 1.7 %

NASDAQ OBK traded up $0.53 on Tuesday, hitting $31.65. 4,583 shares of the stock traded hands, compared to its average volume of 102,922. The company has a market capitalization of $985.58 million, a P/E ratio of 12.81 and a beta of 0.98. The stock has a 50-day moving average of $32.06 and a 200 day moving average of $31.85. 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, Inc. has a twelve month low of $27.69 and a twelve month high of $37.56.

Origin Bancorp (NASDAQ:OBK) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.06). Origin Bancorp had a return on equity of 7.48% and a net margin of 12.12%. The business had revenue of $160.25 million during the quarter, compared to analyst estimates of $93.40 million. During the same period in the prior year, the firm earned $0.71 EPS. As a group, analysts expect that Origin Bancorp, Inc. will post 2.52 earnings per share for the current fiscal year.

Origin Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date is Friday, November 15th. Origin Bancorp’s dividend payout ratio is presently 24.69%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Stephens raised their target price on Origin Bancorp from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Keefe, Bruyette & Woods upped their target price on Origin Bancorp from $38.00 to $39.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Origin Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $35.75.

About Origin Bancorp

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.