Brokerages Set Origin Bancorp, Inc. (NYSE:OBK) PT at $42.80

Shares of Origin Bancorp, Inc. (NYSE:OBK) have been given an average recommendation of “Moderate Buy” by the six ratings firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $42.80.

Several research firms have issued reports on OBK. Weiss Ratings restated a “hold (c)” rating on shares of Origin Bancorp in a report on Wednesday, October 8th. Wall Street Zen raised shares of Origin Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Piper Sandler increased their price target on shares of Origin Bancorp from $42.00 to $43.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Finally, DA Davidson initiated coverage on Origin Bancorp in a report on Tuesday, November 25th. They issued a “buy” rating and a $42.00 price objective for the company.

Origin Bancorp Price Performance

Shares of OBK stock opened at $38.54 on Wednesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.97 and a quick ratio of 0.97. The business has a fifty day moving average price of $35.92. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 20.18 and a beta of 0.75. Origin Bancorp has a 12 month low of $28.80 and a 12 month high of $41.17.

Origin Bancorp (NYSE:OBK) last announced its earnings results on Wednesday, October 22nd. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.62). Origin Bancorp had a net margin of 10.23% and a return on equity of 5.05%. The business had revenue of $99.62 million for the quarter, compared to analyst estimates of $103.95 million.

Origin Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Friday, November 14th. Origin Bancorp’s payout ratio is 31.41%.

Insider Buying and Selling at Origin Bancorp

In related news, insider Jim Crotwell bought 3,000 shares of the firm’s stock in a transaction on Monday, October 27th. The stock was bought at an average cost of $34.32 per share, for a total transaction of $102,960.00. Following the completion of the purchase, the insider directly owned 24,475 shares in the company, valued at approximately $839,982. The trade was a 13.97% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Willliam J. Iv Wallace bought 2,250 shares of the company’s stock in a transaction on Tuesday, October 28th. The stock was bought at an average cost of $34.80 per share, for a total transaction of $78,300.00. Following the completion of the transaction, the chief financial officer directly owned 12,562 shares of the company’s stock, valued at $437,157.60. This trade represents a 21.82% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders acquired 25,918 shares of company stock worth $893,280. 6.39% of the stock is owned by insiders.

Hedge Funds Weigh In On Origin Bancorp

Several institutional investors have recently modified their holdings of the company. Rafferty Asset Management LLC grew its position in Origin Bancorp by 59.7% in the 1st quarter. Rafferty Asset Management LLC now owns 24,103 shares of the company’s stock worth $836,000 after purchasing an additional 9,009 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Origin Bancorp by 27.6% during the first quarter. Russell Investments Group Ltd. now owns 218,797 shares of the company’s stock valued at $7,586,000 after buying an additional 47,292 shares during the last quarter. Curi RMB Capital LLC boosted its position in shares of Origin Bancorp by 5.0% during the first quarter. Curi RMB Capital LLC now owns 210,000 shares of the company’s stock worth $7,281,000 after buying an additional 10,000 shares during the period. Allspring Global Investments Holdings LLC bought a new position in Origin Bancorp in the 2nd quarter worth approximately $483,000. Finally, Rhino Investment Partners Inc grew its holdings in Origin Bancorp by 10.0% in the 1st quarter. Rhino Investment Partners Inc now owns 498,214 shares of the company’s stock worth $17,273,000 after buying an additional 45,317 shares in the last quarter. Institutional investors own 54.68% of the company’s stock.

Origin Bancorp Company Profile

Origin Bancorp, Inc (NYSE: OBK) is a bank holding company based in Atlanta, Georgia, and is the parent of Origin Bank, a full-service commercial banking franchise. The company provides a broad range of financial products and services to individuals, small and middle-market businesses, and institutional clients across the southeastern United States.

Through Origin Bank, the company offers a variety of deposit products, including checking and savings accounts, money market accounts, and certificates of deposit.