Origin Bancorp (NYSE:OBK) Upgraded to Hold at Zacks Research

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

OBK has been the topic of a number of other reports. Weiss Ratings reissued a “hold (c)” rating on shares of Origin Bancorp in a research report on Thursday, January 22nd. DA Davidson started coverage on Origin Bancorp in a research note on Tuesday, November 25th. They issued a “buy” rating and a $42.00 price objective on the stock. Piper Sandler upped their price target on 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 raised shares of Origin Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $42.80.

Origin Bancorp Stock Performance

Shares of Origin Bancorp stock traded down $0.19 during midday trading on Monday, reaching $40.81. 52,567 shares of the company’s stock traded hands, compared to its average volume of 211,712. 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 has a 12 month low of $28.80 and a 12 month high of $42.86. The company has a market capitalization of $1.26 billion, a P/E ratio of 21.36 and a beta of 0.74. The company’s 50 day moving average is $38.43.

Insider Buying and Selling at Origin Bancorp

In other Origin Bancorp news, Director Cecil W. Jones purchased 8,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The stock was purchased at an average price of $34.71 per share, for a total transaction of $295,035.00. Following the purchase, the director directly owned 12,709 shares in the company, valued at approximately $441,129.39. This trade represents a 201.95% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.39% of the stock is currently owned by company insiders.

Institutional Trading of Origin Bancorp

Institutional investors have recently bought and sold shares of the business. Quarry LP acquired a new stake in Origin Bancorp in the 3rd quarter worth about $25,000. State of Alaska Department of Revenue acquired a new stake in shares of Origin Bancorp during the third quarter valued at about $47,000. Tower Research Capital LLC TRC raised its position in Origin Bancorp by 232.5% in the second quarter. Tower Research Capital LLC TRC now owns 2,620 shares of the company’s stock valued at $94,000 after purchasing an additional 1,832 shares during the period. CWM LLC lifted its stake in Origin Bancorp by 210.1% during the 2nd quarter. CWM LLC now owns 3,157 shares of the company’s stock worth $113,000 after acquiring an additional 2,139 shares in the last quarter. Finally, Concurrent Investment Advisors LLC acquired a new position in shares of Origin Bancorp in the second quarter worth $224,000. 54.68% of the stock is owned by institutional investors and hedge funds.

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.