Origin Bancorp (NYSE:OBK) Cut to “Strong Sell” at Zacks Research

Zacks Research downgraded shares of Origin Bancorp (NYSE:OBK) from a hold rating to a strong sell rating in a research report released on Monday morning,Zacks.com reports.

Several other analysts also recently commented on the stock. Wall Street Zen raised shares of Origin Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Piper Sandler raised 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, October 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Origin Bancorp in a research report on Wednesday, October 8th. Finally, DA Davidson initiated coverage on Origin Bancorp in a research note on Tuesday, November 25th. They set a “buy” rating and a $42.00 target price on the stock. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $42.80.

Origin Bancorp Trading Up 1.8%

OBK opened at $39.98 on Monday. The firm has a fifty day simple moving average of $37.34. Origin Bancorp has a 1-year low of $28.80 and a 1-year high of $41.17. The company has a market cap of $1.24 billion, a PE ratio of 20.93 and a beta of 0.74. 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 (NYSE:OBK) last released its quarterly earnings data on Wednesday, October 22nd. The company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.62). The company had revenue of $99.62 million for the quarter, compared to the consensus estimate of $103.95 million. Origin Bancorp had a return on equity of 5.05% and a net margin of 10.23%.

Origin Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, November 14th. This represents a $0.60 annualized dividend and a dividend yield of 1.5%. Origin Bancorp’s dividend payout ratio (DPR) is currently 31.41%.

Insider Buying and Selling at Origin Bancorp

In related news, Director Cecil W. Jones purchased 8,500 shares of Origin Bancorp stock in a transaction that occurred on Tuesday, November 4th. The shares were acquired at an average price of $34.71 per share, with a total value of $295,035.00. Following the completion of the transaction, the director directly owned 12,709 shares of the company’s stock, valued at $441,129.39. This represents a 201.95% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Willliam J. Iv Wallace acquired 2,250 shares of the stock in a transaction on Tuesday, October 28th. The shares were bought at an average price of $34.80 per share, for a total transaction of $78,300.00. Following the purchase, the chief financial officer owned 12,562 shares in the company, valued at approximately $437,157.60. This trade represents a 21.82% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 25,918 shares of company stock valued at $893,280 over the last ninety days. 6.39% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Origin Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in OBK. Allspring Global Investments Holdings LLC acquired a new stake in Origin Bancorp in the second quarter valued at approximately $483,000. Creative Planning lifted its stake in shares of Origin Bancorp by 17.6% in the 2nd quarter. Creative Planning now owns 59,884 shares of the company’s stock valued at $2,140,000 after acquiring an additional 8,941 shares during the last quarter. Concurrent Investment Advisors LLC bought a new position in shares of Origin Bancorp in the 2nd quarter valued at $224,000. Franklin Resources Inc. boosted its holdings in shares of Origin Bancorp by 25.6% during the 2nd quarter. Franklin Resources Inc. now owns 138,574 shares of the company’s stock valued at $4,953,000 after acquiring an additional 28,263 shares in the last quarter. Finally, Tributary Capital Management LLC grew its position in Origin Bancorp by 92.5% during the 3rd 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 last quarter. 54.68% of the stock is currently owned by institutional investors.

About Origin Bancorp

Origin Bancorp, Inc (NYSE: OBK) is a bank holding company based in Atlanta, Georgia, and is the parent of Origin Bank, a full-service commercial banking franchise. The company provides a broad range of financial products and services to individuals, small and middle-market businesses, and institutional clients across the southeastern United States.

Through Origin Bank, the company offers a variety of deposit products, including checking and savings accounts, money market accounts, and certificates of deposit.