Jim Crotwell Buys 3,000 Shares of Origin Bancorp (NYSE:OBK) Stock

Origin Bancorp, Inc. (NYSE:OBK) insider Jim Crotwell bought 3,000 shares of the company’s stock in a transaction on Monday, October 27th. The shares were acquired at an average price of $34.32 per share, for a total transaction of $102,960.00. Following the completion of the acquisition, the insider owned 24,475 shares in the company, valued at $839,982. This represents a 13.97% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Origin Bancorp Stock Performance

NYSE OBK opened at $34.84 on Friday. Origin Bancorp, Inc. has a one year low of $28.80 and a one year high of $41.17. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.18. The stock has a market cap of $1.09 billion, a P/E ratio of 18.24 and a beta of 0.79. The firm’s 50-day simple moving average is $35.72.

Origin Bancorp (NYSE:OBK) last released its quarterly earnings data 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). The business had revenue of $109.83 million for the quarter, compared to the consensus estimate 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 business also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, November 14th. Origin Bancorp’s dividend payout ratio (DPR) is 31.41%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Wall Street Zen lowered Origin Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, October 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Origin Bancorp in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods increased their price target on shares of Origin Bancorp from $41.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, July 28th. DA Davidson upgraded shares of Origin Bancorp to a “strong-buy” rating in a report on Monday, October 20th. Finally, Piper Sandler lifted their price objective on shares of Origin Bancorp from $42.00 to $43.00 and gave the stock an “overweight” rating in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Origin Bancorp currently has a consensus rating of “Buy” and an average target price of $43.40.

Hedge Funds Weigh In On Origin Bancorp

Several hedge funds have recently modified their holdings of OBK. Rafferty Asset Management LLC boosted its stake in Origin Bancorp by 59.7% in the 1st quarter. Rafferty Asset Management LLC now owns 24,103 shares of the company’s stock worth $836,000 after purchasing an additional 9,009 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Origin Bancorp by 27.6% during the 1st quarter. Russell Investments Group Ltd. now owns 218,797 shares of the company’s stock valued at $7,586,000 after purchasing an additional 47,292 shares in the last quarter. Curi RMB Capital LLC raised its holdings in shares of Origin Bancorp by 5.0% in the first quarter. Curi RMB Capital LLC now owns 210,000 shares of the company’s stock worth $7,281,000 after buying an additional 10,000 shares during the last quarter. Rhino Investment Partners Inc lifted its stake in shares of Origin Bancorp by 10.0% during the first quarter. Rhino Investment Partners Inc now owns 498,214 shares of the company’s stock worth $17,273,000 after buying an additional 45,317 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of Origin Bancorp during the second quarter valued at $483,000. Institutional investors and hedge funds own 54.68% of the company’s stock.

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.