Envestnet Asset Management Inc. Purchases 33,907 Shares of Origin Bancorp, Inc. $OBK

Envestnet Asset Management Inc. increased its holdings in Origin Bancorp, Inc. (NYSE:OBK) by 51.0% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 100,369 shares of the company’s stock after buying an additional 33,907 shares during the period. Envestnet Asset Management Inc. owned 0.32% of Origin Bancorp worth $3,587,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in OBK. AlphaQuest LLC increased its stake in Origin Bancorp by 372.5% in the 2nd quarter. AlphaQuest LLC now owns 29,411 shares of the company’s stock worth $1,051,000 after acquiring an additional 23,187 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Origin Bancorp in the second quarter worth approximately $483,000. CWM LLC increased its position in shares of Origin Bancorp by 210.1% in the second quarter. CWM LLC now owns 3,157 shares of the company’s stock worth $113,000 after purchasing an additional 2,139 shares during the last quarter. Concurrent Investment Advisors LLC purchased a new stake in Origin Bancorp in the second quarter valued at approximately $224,000. Finally, Harbor Capital Advisors Inc. lifted its position in Origin Bancorp by 10.7% during the second quarter. Harbor Capital Advisors Inc. now owns 10,702 shares of the company’s stock valued at $382,000 after purchasing an additional 1,038 shares during the last quarter. 54.68% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Preston Moore purchased 6,500 shares of the stock in a transaction that occurred on Monday, October 27th. The stock was bought at an average cost of $34.27 per share, for a total transaction of $222,755.00. Following the acquisition, the insider directly owned 54,882 shares of the company’s stock, valued at $1,880,806.14. This represents 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, CFO Willliam J. Iv Wallace purchased 2,250 shares of the business’s stock in a transaction on Tuesday, October 28th. The stock was purchased at an average cost of $34.80 per share, for a total transaction of $78,300.00. Following the acquisition, the chief financial officer owned 12,562 shares in the company, valued at approximately $437,157.60. The trade was a 21.82% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought 25,918 shares of company stock valued at $893,280 over the last quarter. Company insiders own 6.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on OBK. Wall Street Zen raised shares of Origin Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Keefe, Bruyette & Woods upped their target price on shares of Origin Bancorp from $41.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, July 28th. DA Davidson upgraded Origin Bancorp to a “strong-buy” rating in a research report on Monday, October 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Origin Bancorp in a research note on Wednesday, October 8th. Finally, Piper Sandler increased their price objective on Origin Bancorp from $42.00 to $43.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. One 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. Based on data from MarketBeat.com, Origin Bancorp presently has an average rating of “Buy” and a consensus price target of $43.40.

Origin Bancorp Trading Down 0.4%

OBK opened at $34.78 on Friday. Origin Bancorp, Inc. has a 12 month low of $28.80 and a 12 month high of $41.17. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.97 and a current ratio of 0.97. The business has a 50-day moving average of $34.91. The stock has a market capitalization of $1.08 billion, a P/E ratio of 18.21 and a beta of 0.81.

Origin Bancorp (NYSE:OBK) last issued 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 company had revenue of $99.62 million for the quarter, compared to analysts’ expectations of $103.95 million.

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 $0.15 dividend. The ex-dividend date is Friday, November 14th. This represents a $0.60 annualized dividend and a dividend yield of 1.7%. Origin Bancorp’s dividend payout ratio (DPR) is currently 31.41%.

Origin Bancorp 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.