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

Origin Bancorp (NYSE:OBK) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Monday,Zacks.com reports.

Several other research firms have also weighed in on OBK. Weiss Ratings reiterated a “hold (c)” rating on shares of Origin Bancorp in a research note on Wednesday, October 8th. DA Davidson began coverage on shares of Origin Bancorp in a research report on Tuesday, November 25th. They set a “buy” rating and a $42.00 price objective for the company. Piper Sandler increased their price objective on shares of Origin Bancorp from $42.00 to $43.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. Finally, Wall Street Zen upgraded Origin Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.80.

Origin Bancorp Stock Up 0.0%

Shares of Origin Bancorp stock opened at $39.27 on Monday. The company has a 50-day moving average price of $37.25. Origin Bancorp has a fifty-two week low of $28.80 and a fifty-two week high of $41.17. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of 20.53 and a beta of 0.74. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.97 and a current ratio of 0.97.

Origin Bancorp (NYSE:OBK) last issued its earnings results on Wednesday, October 22nd. The company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.62). The firm had revenue of $99.62 million during the quarter, compared to analyst estimates of $103.95 million. Origin Bancorp had a return on equity of 5.05% and a net margin of 10.23%.

Insider Activity

In other news, CFO Willliam J. Iv Wallace bought 2,250 shares of the firm’s stock in a transaction on Tuesday, October 28th. The stock was purchased at an average price of $34.80 per share, for a total transaction of $78,300.00. Following the transaction, 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 purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director James Samuel Jr. D’agostino purchased 1,000 shares of the company’s stock in a transaction on Monday, October 27th. The stock was purchased at an average price of $33.93 per share, for a total transaction of $33,930.00. Following the purchase, the director directly owned 47,917 shares of the company’s stock, valued at $1,625,823.81. This trade represents a 2.13% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 25,918 shares of company stock worth $893,280 over the last three months. Insiders own 6.39% of the company’s stock.

Institutional Trading of Origin Bancorp

Several hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its stake in shares of Origin Bancorp by 15.5% in the third quarter. JPMorgan Chase & Co. now owns 185,941 shares of the company’s stock worth $6,419,000 after purchasing an additional 24,949 shares in the last quarter. Tudor Investment Corp ET AL acquired a new stake in Origin Bancorp in the third quarter worth about $2,964,000. CIBC Bancorp USA Inc. bought a new position in Origin Bancorp in the 3rd quarter valued at about $535,000. Jacobs Levy Equity Management Inc. increased its stake in Origin Bancorp by 2.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 13,724 shares of the company’s stock valued at $474,000 after buying an additional 375 shares during the period. Finally, Verition Fund Management LLC bought a new stake in shares of Origin Bancorp during the 3rd quarter worth about $1,103,000. Institutional investors own 54.68% of the company’s stock.

Origin Bancorp Company Profile

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.