Insider Buying: Origin Bancorp (NYSE:OBK) Director Buys 8,500 Shares of Stock

Origin Bancorp, Inc. (NYSE:OBK) Director Cecil Jones purchased 8,500 shares of the business’s stock in a transaction dated Tuesday, November 4th. The stock was bought at an average price of $34.71 per share, with a total value of $295,035.00. Following the acquisition, the director directly owned 12,709 shares in the company, valued at approximately $441,129.39. This represents a 201.95% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Origin Bancorp Stock Performance

NYSE OBK traded down $0.02 during trading hours on Tuesday, reaching $34.63. The company’s stock had a trading volume of 159,016 shares, compared to its average volume of 155,238. The company has a market cap of $1.08 billion, a PE ratio of 18.13 and a beta of 0.81. Origin Bancorp, Inc. has a fifty-two week low of $28.80 and a fifty-two week high of $41.17. The business’s 50-day moving average price is $35.57. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.98 and a current ratio of 0.98.

Origin Bancorp (NYSE:OBK) last issued its quarterly earnings data on Wednesday, October 22nd. The company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.62). The business had revenue of $109.83 million during the quarter, compared to analyst estimates of $103.95 million. Origin Bancorp had a net margin of 10.23% and a return on equity of 5.09%.

Origin Bancorp Announces Dividend

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

Hedge Funds Weigh In On Origin Bancorp

A number of hedge funds have recently added to or reduced their stakes in OBK. Tributary Capital Management LLC boosted its holdings in Origin Bancorp by 92.5% in the third quarter. Tributary Capital Management LLC now owns 790,234 shares of the company’s stock worth $27,279,000 after purchasing an additional 379,716 shares during the period. Hotchkis & Wiley Capital Management LLC purchased a new position in Origin Bancorp during the 1st quarter valued at about $8,637,000. Nuveen LLC purchased a new position in Origin Bancorp during the 1st quarter valued at about $4,357,000. American Century Companies Inc. grew its stake in Origin Bancorp by 12.3% during the 1st quarter. American Century Companies Inc. now owns 674,593 shares of the company’s stock valued at $23,388,000 after acquiring an additional 73,668 shares in the last quarter. Finally, Jane Street Group LLC grew its stake in Origin Bancorp by 97.9% during the 1st quarter. Jane Street Group LLC now owns 117,954 shares of the company’s stock valued at $4,089,000 after acquiring an additional 58,340 shares in the last quarter. Institutional investors and hedge funds own 54.68% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Piper Sandler increased their price objective 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. Keefe, Bruyette & Woods raised their price target on shares of Origin Bancorp from $41.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, July 28th. DA Davidson raised shares of Origin Bancorp to a “strong-buy” rating in a research note on Monday, October 20th. Wall Street Zen cut shares of Origin Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, October 11th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Origin Bancorp in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $43.40.

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, 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.