Origin Bancorp, Inc. (NYSE:OBK) Receives $43.40 Consensus Target Price from Brokerages

Shares of Origin Bancorp, Inc. (NYSE:OBK) have been assigned an average recommendation of “Moderate Buy” from the six brokerages that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $42.80.

Several equities analysts recently issued reports on OBK shares. DA Davidson initiated coverage on Origin Bancorp in a research report on Tuesday. They issued a “buy” rating and a $42.00 target price on the stock. Wall Street Zen upgraded Origin Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Piper Sandler raised their price objective on Origin Bancorp from $42.00 to $43.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Origin Bancorp in a report on Wednesday, October 8th.

Insiders Place Their Bets

In other Origin Bancorp news, insider Preston Moore bought 1,000 shares of the firm’s stock in a transaction that occurred on Monday, October 27th. The stock was bought at an average cost of $34.25 per share, for a total transaction of $34,250.00. Following the completion of the transaction, the insider directly owned 2,500 shares of the company’s stock, valued at approximately $85,625. This trade represents a 66.67% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Derek Mcgee purchased 732 shares of the stock in a transaction on Monday, October 27th. The stock was acquired at an average cost of $34.25 per share, for a total transaction 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. The trade was a 99.59% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders bought 25,918 shares of company stock worth $893,280. Company insiders own 6.39% of the company’s stock.

Hedge Funds Weigh In On Origin Bancorp

Several institutional investors and hedge funds have recently modified their holdings of OBK. Tributary Capital Management LLC grew its holdings in Origin Bancorp by 92.5% during the third quarter. Tributary Capital Management LLC now owns 790,234 shares of the company’s stock worth $27,279,000 after acquiring an additional 379,716 shares during the period. Hotchkis & Wiley Capital Management LLC acquired a new position in Origin Bancorp in the first quarter valued at approximately $8,637,000. Millennium Management LLC boosted its holdings in Origin Bancorp by 438.9% during the third quarter. Millennium Management LLC now owns 301,217 shares of the company’s stock worth $10,398,000 after buying an additional 245,320 shares in the last quarter. Endeavour Capital Advisors Inc. boosted its stake in shares of Origin Bancorp by 2,277.7% during the 3rd quarter. Endeavour Capital Advisors Inc. now owns 191,496 shares of the company’s stock worth $6,610,000 after acquiring an additional 183,442 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in Origin Bancorp in the first quarter valued at approximately $4,357,000. Institutional investors and hedge funds own 54.68% of the company’s stock.

Origin Bancorp Stock Down 0.4%

Shares of Origin Bancorp stock opened at $36.39 on Friday. The firm’s 50-day moving average price is $34.70. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of 19.05 and a beta of 0.81. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.08. Origin Bancorp has a twelve month low of $28.80 and a twelve month high of $41.17.

Origin Bancorp (NYSE:OBK) last issued its quarterly earnings results on Wednesday, October 22nd. The company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $103.95 million.

Origin Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 14th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.6%. The ex-dividend date was Friday, November 14th. Origin Bancorp’s payout ratio is presently 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.