Origin Bancorp Inc (NASDAQ:OBNK) Sees Significant Increase in Short Interest

Origin Bancorp Inc (NASDAQ:OBNK) saw a significant growth in short interest in January. As of January 31st, there was short interest totalling 626,400 shares, a growth of 6.8% from the January 15th total of 586,300 shares. Approximately 3.6% of the company’s stock are short sold. Based on an average trading volume of 39,000 shares, the short-interest ratio is presently 16.1 days.

In other Origin Bancorp news, Director Fred Ronnie Myrick sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $35.55, for a total value of $71,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Cary Stephen Davis sold 3,278 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $36.45, for a total transaction of $119,483.10. The disclosure for this sale can be found here. Insiders sold 15,278 shares of company stock valued at $558,083 over the last three months. Insiders own 7.30% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Patriot Financial Partners GP LP raised its stake in Origin Bancorp by 108.2% during the 3rd quarter. Patriot Financial Partners GP LP now owns 577,285 shares of the company’s stock valued at $19,478,000 after purchasing an additional 300,000 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Origin Bancorp by 31.1% during the 4th quarter. Russell Investments Group Ltd. now owns 392,835 shares of the company’s stock valued at $14,861,000 after purchasing an additional 93,295 shares during the last quarter. Nuveen Asset Management LLC acquired a new position in Origin Bancorp during the 2nd quarter valued at $2,320,000. Millennium Management LLC raised its stake in Origin Bancorp by 73.6% during the 3rd quarter. Millennium Management LLC now owns 125,119 shares of the company’s stock valued at $4,221,000 after purchasing an additional 53,063 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Origin Bancorp by 39.5% during the 4th quarter. Bank of New York Mellon Corp now owns 127,232 shares of the company’s stock valued at $4,815,000 after purchasing an additional 36,042 shares during the last quarter. 49.77% of the stock is owned by institutional investors and hedge funds.

OBNK has been the subject of several recent analyst reports. Zacks Investment Research downgraded shares of Origin Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, January 28th. DA Davidson initiated coverage on shares of Origin Bancorp in a report on Thursday, December 12th. They set a “buy” rating and a $41.50 price objective for the company. Finally, Stephens decreased their price objective on shares of Origin Bancorp from $40.00 to $39.00 and set an “overweight” rating for the company in a report on Friday, January 24th.

Shares of NASDAQ OBNK traded down $0.51 during trading hours on Friday, hitting $35.46. 18,300 shares of the stock were exchanged, compared to its average volume of 31,894. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.06 and a quick ratio of 1.05. The company’s 50 day moving average is $36.37 and its 200 day moving average is $34.79. The firm has a market capitalization of $844.61 million, a P/E ratio of 15.48 and a beta of 0.53. Origin Bancorp has a one year low of $30.85 and a one year high of $38.14.

Origin Bancorp (NASDAQ:OBNK) last posted its quarterly earnings data on Wednesday, January 22nd. The company reported $0.55 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by ($0.03). The firm had revenue of $54.91 million for the quarter, compared to the consensus estimate of $56.70 million. Origin Bancorp had a return on equity of 9.29% and a net margin of 19.70%. Research analysts anticipate that Origin Bancorp will post 2.39 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a dividend of $0.093 per share. This represents a $0.37 annualized dividend and a dividend yield of 1.05%. The ex-dividend date is Thursday, February 13th. Origin Bancorp’s dividend payout ratio is currently 16.23%.

Origin Bancorp Company Profile

Origin Bancorp, Inc operates as the 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 Louisiana, Texas, and Mississippi. It accepts noninterest and interest-bearing checking accounts, savings deposits, money market accounts, and time deposits; and offers single and multi-family real estate, residential construction, commercial building, and consumer loans, as well as loans to small and medium-sized businesses.

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