Origin Bancorp, Inc. (NYSE:OBK) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Origin Bancorp, Inc. (NYSE:OBK) have been assigned a consensus recommendation of “Moderate Buy” from the seven analysts that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $42.80.

A number of analysts have commented on the stock. Wall Street Zen raised shares of Origin Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Piper Sandler boosted their price target on shares of Origin Bancorp from $42.00 to $43.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Weiss Ratings restated a “hold (c)” rating on shares of Origin Bancorp in a research report on Wednesday, October 8th. Zacks Research cut shares of Origin Bancorp from a “hold” rating to a “strong sell” rating in a research report on Monday. Finally, DA Davidson assumed coverage on shares of Origin Bancorp in a research note on Tuesday, November 25th. They set a “buy” rating and a $42.00 target price on the stock.

Origin Bancorp Stock Up 1.2%

Shares of NYSE OBK opened at $40.49 on Friday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1.25 billion, a PE ratio of 21.20 and a beta of 0.74. The stock has a fifty day moving average of $37.45. Origin Bancorp has a 52-week low of $28.80 and a 52-week high of $41.17.

Origin Bancorp (NYSE:OBK) last announced its earnings results on Wednesday, October 22nd. The company reported $0.27 EPS 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 company had revenue of $99.62 million for the quarter, compared to analysts’ expectations of $103.95 million.

Origin Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 14th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Friday, November 14th. Origin Bancorp’s payout ratio is presently 31.41%.

Insider Transactions at Origin Bancorp

In other Origin Bancorp news, insider Jim Crotwell bought 3,000 shares of the company’s stock in a transaction dated Monday, October 27th. The shares were bought at an average price of $34.32 per share, for a total transaction of $102,960.00. Following the acquisition, the insider directly owned 24,475 shares of the company’s stock, valued at approximately $839,982. This trade represents a 13.97% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Derek Mcgee purchased 732 shares of the firm’s stock in a transaction that occurred on Monday, October 27th. The shares were bought at an average price of $34.25 per share, with a total value of $25,071.00. Following the completion of the acquisition, the insider owned 1,467 shares of the company’s stock, valued at $50,244.75. This trade represents a 99.59% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders bought 25,918 shares of company stock worth $893,280. 6.39% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Origin Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OBK. Quarry LP acquired a new position in shares of Origin Bancorp in the third quarter worth $25,000. State of Alaska Department of Revenue purchased a new position in Origin Bancorp in the third quarter valued at about $47,000. Tower Research Capital LLC TRC increased its position in Origin Bancorp by 232.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,620 shares of the company’s stock worth $94,000 after purchasing an additional 1,832 shares during the last quarter. CWM LLC raised its stake in shares of Origin Bancorp by 210.1% during the 2nd quarter. CWM LLC now owns 3,157 shares of the company’s stock worth $113,000 after purchasing an additional 2,139 shares in the last quarter. Finally, Strs Ohio acquired a new stake in shares of Origin Bancorp during the 1st quarter valued at about $218,000. Hedge funds and other institutional investors own 54.68% of the company’s stock.

About Origin Bancorp

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.