Stephen Brolly Buys 300 Shares of Origin Bancorp (NYSE:OBK) Stock

Origin Bancorp, Inc. (NYSE:OBK) CAO Stephen Brolly bought 300 shares of Origin Bancorp stock in a transaction on Monday, October 27th. The shares were purchased at an average cost of $34.11 per share, with a total value of $10,233.00. Following the acquisition, the chief accounting officer directly owned 21,624 shares of the company’s stock, valued at approximately $737,594.64. The trade was a 1.41% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Origin Bancorp Trading Up 0.9%

OBK stock opened at $34.84 on Friday. The firm has a market cap of $1.09 billion, a P/E ratio of 18.24 and a beta of 0.79. 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, Inc. has a 12 month low of $28.80 and a 12 month high of $41.17. The company has a 50-day simple moving average of $35.72.

Origin Bancorp (NYSE:OBK) last issued its 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 return on equity of 5.09% and a net margin of 10.23%.The company had revenue of $109.83 million during the quarter, compared to analyst estimates of $103.95 million.

Origin Bancorp Announces Dividend

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

Hedge Funds Weigh In On Origin Bancorp

Several hedge funds have recently made changes to their positions in OBK. Envestnet Asset Management Inc. grew its stake in Origin Bancorp by 6.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 66,462 shares of the company’s stock worth $2,304,000 after buying an additional 4,054 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of Origin Bancorp by 46.7% during the first quarter. Nisa Investment Advisors LLC now owns 1,257 shares of the company’s stock worth $44,000 after acquiring an additional 400 shares during the last quarter. New York State Common Retirement Fund grew its position in shares of Origin Bancorp by 7.1% during the first quarter. New York State Common Retirement Fund now owns 9,046 shares of the company’s stock worth $314,000 after acquiring an additional 600 shares during the last quarter. CWM LLC grew its position in shares of Origin Bancorp by 44.8% during the first quarter. CWM LLC now owns 1,018 shares of the company’s stock worth $35,000 after acquiring an additional 315 shares during the last quarter. Finally, Jackson Creek Investment Advisors LLC purchased a new position in shares of Origin Bancorp during the first quarter worth approximately $1,487,000. Hedge funds and other institutional investors own 54.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on OBK. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Origin Bancorp in a research note on Wednesday, October 8th. DA Davidson raised Origin Bancorp to a “strong-buy” rating in a research report on Monday, October 20th. Wall Street Zen downgraded Origin Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, October 11th. Keefe, Bruyette & Woods lifted 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, Piper Sandler lifted their price objective on shares of Origin Bancorp from $42.00 to $43.00 and gave the company an “overweight” rating in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $43.40.

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.