Origin Bancorp (NYSE:OBK) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Origin Bancorp (NYSE:OBK) from a sell rating to a hold rating in a research report released on Saturday morning.

A number of other research firms also recently commented on OBK. Piper Sandler lifted their target price on Origin Bancorp from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. DA Davidson raised shares of Origin Bancorp to a “strong-buy” rating in a research report on Monday, October 20th. Keefe, Bruyette & Woods upped their price objective on shares of Origin Bancorp from $41.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, July 28th. Finally, Weiss Ratings reiterated 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 issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Origin Bancorp has a consensus rating of “Buy” and a consensus target price of $43.40.

Origin Bancorp Stock Up 0.9%

Shares of OBK traded up $0.32 during mid-day trading on Friday, hitting $35.46. 132,571 shares of the company traded hands, compared to its average volume of 181,313. The company has a market capitalization of $1.10 billion, a P/E ratio of 18.56 and a beta of 0.81. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.98 and a quick ratio of 0.98. The firm’s 50 day simple moving average is $35.27. Origin Bancorp has a 1-year low of $28.80 and a 1-year high of $41.17.

Origin Bancorp (NYSE:OBK) last announced its quarterly earnings data on Wednesday, October 22nd. The company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.62). The company had revenue of $99.62 million for the quarter, compared to analysts’ expectations of $103.95 million. Origin Bancorp had a net margin of 10.23% and a return on equity of 5.09%.

Origin Bancorp Dividend Announcement

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

Insider Transactions at Origin Bancorp

In other Origin Bancorp news, insider Preston Moore purchased 6,500 shares of the business’s stock in a transaction that occurred on Monday, October 27th. The stock was purchased at an average price of $34.27 per share, for a total transaction of $222,755.00. Following the purchase, the insider directly owned 54,882 shares in the company, valued at approximately $1,880,806.14. This trade represents a 13.43% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Willliam J. Iv Wallace purchased 2,250 shares of Origin Bancorp stock in a transaction that occurred on Tuesday, October 28th. The stock was acquired at an average cost of $34.80 per share, with a total value of $78,300.00. Following the acquisition, the chief financial officer directly owned 12,562 shares in the company, valued at $437,157.60. This trade represents a 21.82% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders acquired 25,918 shares of company stock worth $893,280. Insiders own 6.39% of the company’s stock.

Institutional Trading of Origin Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in OBK. CWM LLC lifted its position in shares of Origin Bancorp by 44.8% during the 1st quarter. CWM LLC now owns 1,018 shares of the company’s stock valued at $35,000 after buying an additional 315 shares in the last quarter. Federated Hermes Inc. purchased a new position in Origin Bancorp during the first quarter valued at $40,000. Nisa Investment Advisors LLC grew its position in shares of Origin Bancorp by 46.7% in the first quarter. Nisa Investment Advisors LLC now owns 1,257 shares of the company’s stock valued at $44,000 after purchasing an additional 400 shares during the period. State of Alaska Department of Revenue purchased a new stake in shares of Origin Bancorp during the third quarter worth about $47,000. Finally, Tower Research Capital LLC TRC raised its position in shares of Origin Bancorp by 232.5% during 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. 54.68% of the stock is currently owned by hedge funds and other institutional investors.

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.