Azora Capital LP Acquires New Stake in Origin Bancorp, Inc. $OBK

Azora Capital LP acquired a new stake in shares of Origin Bancorp, Inc. (NYSE:OBK) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 16,353 shares of the company’s stock, valued at approximately $584,000. Azora Capital LP owned about 0.05% of Origin Bancorp at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Hotchkis & Wiley Capital Management LLC purchased a new position in shares of Origin Bancorp in the 1st quarter worth about $8,637,000. Nuveen LLC bought a new stake in Origin Bancorp during the 1st quarter valued at about $4,357,000. American Century Companies Inc. raised its holdings in Origin Bancorp by 12.3% in the first quarter. American Century Companies Inc. now owns 674,593 shares of the company’s stock worth $23,388,000 after buying an additional 73,668 shares during the last quarter. Jane Street Group LLC lifted its stake in shares of Origin Bancorp by 97.9% in the first quarter. Jane Street Group LLC now owns 117,954 shares of the company’s stock worth $4,089,000 after buying an additional 58,340 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of Origin Bancorp during the second quarter valued at approximately $1,911,000. 54.68% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the company. Piper Sandler increased their target price on Origin Bancorp from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, October 27th. DA Davidson initiated coverage on Origin Bancorp in a report on Tuesday, November 25th. They set a “buy” rating and a $42.00 price target on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Origin Bancorp in a research report on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Origin Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $42.80.

Insider Buying and Selling

In related news, Director Cecil W. Jones purchased 8,500 shares of Origin Bancorp stock in a transaction on Tuesday, November 4th. The stock was acquired at an average price of $34.71 per share, for a total transaction of $295,035.00. Following the completion of the transaction, the director directly owned 12,709 shares in the company, valued at $441,129.39. This represents a 201.95% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Willliam J. Iv Wallace acquired 2,250 shares of the firm’s stock in a transaction dated Tuesday, October 28th. The stock was bought at an average cost of $34.80 per share, for a total transaction of $78,300.00. Following the purchase, the chief financial officer directly owned 12,562 shares of the company’s stock, valued at approximately $437,157.60. This trade represents a 21.82% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased 25,918 shares of company stock worth $893,280 in the last quarter. Company insiders own 6.39% of the company’s stock.

Origin Bancorp Stock Down 0.0%

NYSE OBK opened at $37.45 on Wednesday. The company’s 50-day simple moving average is $34.98. Origin Bancorp, Inc. has a 52 week low of $28.80 and a 52 week high of $41.17. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.08. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of 19.61 and a beta of 0.75.

Origin Bancorp (NYSE:OBK) last posted 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). Origin Bancorp had a return on equity of 5.05% and a net margin of 10.23%.The business had revenue of $99.62 million during the quarter, compared to analysts’ expectations of $103.95 million.

Origin Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Friday, November 14th. Origin Bancorp’s dividend payout ratio is 31.41%.

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.