Key Points
- Insider Jim Crotwell bought 2,000 Origin Bancorp shares at an average price of $53.58, investing $107,160. The purchase increased his holdings by 8.17% to 26,475 shares.
- Origin Bancorp reported quarterly earnings of $1.22 per share and revenue of $113.22 million. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $58.
- The company declared a quarterly dividend of $0.28 per share, equivalent to an annualized $1.12 and a 2.1% yield.
Origin Bancorp, Inc. (TXSE:OBK - Get Free Report) insider Jim Crotwell acquired 2,000 shares of the company's stock in a transaction dated Friday, November 6th. The shares were purchased at an average cost of $53.58 per share, with a total value of $107,160.00. Following the acquisition, the insider owned 26,475 shares of the company's stock, valued at approximately $1,418,530.50. This represents a 8.17% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Origin Bancorp Stock Performance
TXSE:OBK opened at $54.24 on Wednesday. Origin Bancorp, Inc. has a 1 year low of $32.28 and a 1 year high of $58.00. The firm has a 50 day moving average of $53.03 and a 200-day moving average of $48.69. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $1.67 billion, a P/E ratio of 16.95 and a beta of 0.74.
Origin Bancorp (TXSE:OBK - Get Free Report) last announced its earnings results on Wednesday, October 28th. The company reported $1.22 EPS for the quarter. The business had revenue of $113.22 million for the quarter. Origin Bancorp had a return on equity of 7.97% and a net margin of 16.26%. As a group, sell-side analysts anticipate that Origin Bancorp, Inc. will post 4.11 EPS for the current fiscal year.
Origin Bancorp Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 30th. Shareholders of record on Friday, November 13th will be given a $0.28 dividend. The ex-dividend date is Friday, November 13th. This represents a $1.12 annualized dividend and a yield of 2.1%. Origin Bancorp's payout ratio is presently 26.99%.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on OBK. Benchmark upgraded Origin Bancorp to a "hold" rating in a report on Thursday, September 24th. Weiss Ratings upgraded Origin Bancorp from a "buy (b)" rating to a "buy (b+)" rating in a research note on Thursday, October 8th. Keefe, Bruyette & Woods lifted their price target on Origin Bancorp from $57.00 to $60.00 and gave the company an "outperform" rating in a report on Tuesday, August 4th. Piper Sandler upped their price target on shares of Origin Bancorp from $55.00 to $56.00 and gave the stock a "neutral" rating in a research report on Friday, July 24th. Finally, Raymond James Financial upped their price target on shares of Origin Bancorp from $56.00 to $58.00 and gave the stock an "outperform" rating in a research report on Friday, October 2nd. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $58.00.
Read Our Latest Stock Analysis on OBK
Institutional Trading of Origin Bancorp
A number of hedge funds and other institutional investors have recently modified their holdings of OBK. Focus Advisor Solutions LLC acquired a new position in Origin Bancorp during the 3rd quarter worth $249,000. Allworth Financial LP boosted its position in Origin Bancorp by 2,350.8% in the 3rd quarter. Allworth Financial LP now owns 14,484 shares of the company's stock valued at $741,000 after buying an additional 13,893 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Origin Bancorp by 1.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 145,025 shares of the company's stock valued at $7,580,000 after buying an additional 2,762 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Origin Bancorp by 4.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 17,554 shares of the company's stock valued at $917,000 after buying an additional 689 shares during the period. Finally, Heritage Family Offices LLP acquired a new stake in shares of Origin Bancorp in the 3rd quarter valued at $75,000. Institutional investors and hedge funds own 54.68% of the company's stock.
About Origin Bancorp
(
Get Free Report)
Origin Bancorp, Inc. is a regional bank holding company headquartered in Ruston, Louisiana. Through its primary subsidiary, Origin Bank, the company provides banking and financial services to businesses, individuals and communities. Origin Bank offers commercial and small-business lending, consumer loans, residential mortgage lending, deposit accounts, treasury management, cash-management services and wealth-related solutions. Its commercial banking activities include financing for operating needs, real estate and other business purposes, while its consumer offerings include personal deposits and lending products.
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