Origin Bancorp, Inc. (NYSE:OBK) Given Average Rating of “Buy” by Brokerages

Origin Bancorp, Inc. (NYSE:OBK) has received a consensus rating of “Buy” from the six analysts that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $43.40.

Several research analysts recently weighed in on the stock. Wall Street Zen downgraded shares of Origin Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, October 11th. Keefe, Bruyette & Woods boosted their target price on shares of Origin Bancorp from $41.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, July 28th. Piper Sandler boosted their target price on shares of Origin Bancorp from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, October 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Origin Bancorp in a research note on Wednesday, October 8th. Finally, DA Davidson raised shares of Origin Bancorp to a “strong-buy” rating in a research note on Monday, October 20th.

Insider Activity at Origin Bancorp

In related news, insider Preston Moore acquired 6,500 shares of the company’s stock in a transaction dated Monday, October 27th. The stock was bought at an average price of $34.27 per share, with a total value of $222,755.00. Following the purchase, the insider directly owned 54,882 shares in the company, valued at $1,880,806.14. The trade was a 13.43% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director James Samuel Jr. D’agostino acquired 1,000 shares of the company’s stock in a transaction dated Monday, October 27th. The shares were bought at an average cost of $33.93 per share, with a total value of $33,930.00. Following the purchase, the director owned 47,917 shares in the company, valued at approximately $1,625,823.81. The trade was a 2.13% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have acquired 17,418 shares of company stock worth $598,245. Corporate insiders own 6.39% of the company’s stock.

Institutional Trading of Origin Bancorp

A number of institutional investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company grew its holdings in shares of Origin Bancorp by 2.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,402 shares of the company’s stock worth $550,000 after purchasing an additional 300 shares during the period. CWM LLC grew its holdings in shares of Origin Bancorp by 44.8% during the 1st quarter. CWM LLC now owns 1,018 shares of the company’s stock worth $35,000 after purchasing an additional 315 shares during the period. Nisa Investment Advisors LLC grew its holdings in shares of Origin Bancorp by 46.7% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,257 shares of the company’s stock worth $44,000 after purchasing an additional 400 shares during the period. Harbor Capital Advisors Inc. grew its holdings in shares of Origin Bancorp by 4.3% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 11,162 shares of the company’s stock worth $385,000 after purchasing an additional 460 shares during the period. Finally, New York State Common Retirement Fund grew its holdings in shares of Origin Bancorp by 7.1% during the 1st quarter. New York State Common Retirement Fund now owns 9,046 shares of the company’s stock worth $314,000 after purchasing an additional 600 shares during the period. Hedge funds and other institutional investors own 54.68% of the company’s stock.

Origin Bancorp Stock Down 0.1%

NYSE:OBK opened at $34.62 on Tuesday. The firm has a market cap of $1.08 billion, a P/E ratio of 18.12 and a beta of 0.81. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.18. Origin Bancorp has a 52-week low of $28.80 and a 52-week high of $41.17. The stock’s fifty day moving average price is $35.57.

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 5.09%. The firm had revenue of $109.83 million during the quarter, compared to analyst estimates of $103.95 million.

Origin Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.7%. Origin Bancorp’s dividend payout ratio is currently 31.41%.

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, high net worth individuals, 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, residential mortgage, and paycheck protection program loans.