Creative Planning Increases Position in Origin Bancorp, Inc. $OBK

Creative Planning raised its position in shares of Origin Bancorp, Inc. (NYSE:OBK) by 17.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 59,884 shares of the company’s stock after purchasing an additional 8,941 shares during the period. Creative Planning’s holdings in Origin Bancorp were worth $2,140,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CWM LLC increased its position in shares of Origin Bancorp by 44.8% during the 1st quarter. CWM LLC now owns 1,018 shares of the company’s stock valued at $35,000 after purchasing an additional 315 shares during the last quarter. Federated Hermes Inc. bought a new stake in Origin Bancorp in the 1st quarter worth approximately $40,000. Strs Ohio purchased a new stake in Origin Bancorp in the first quarter worth approximately $218,000. Concurrent Investment Advisors LLC bought a new position in Origin Bancorp during the second quarter valued at approximately $224,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Origin Bancorp during the first quarter valued at approximately $226,000. 54.68% of the stock is currently owned by hedge funds and other institutional investors.

Origin Bancorp Price Performance

NYSE OBK opened at $36.46 on Wednesday. Origin Bancorp, Inc. has a 1 year low of $28.80 and a 1 year high of $41.17. The company has a market capitalization of $1.13 billion, a PE ratio of 19.09 and a beta of 0.81. 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 business has a 50-day simple moving average of $34.67.

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

Origin Bancorp Announces Dividend

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

Insiders Place Their Bets

In related news, insider Derek Mcgee acquired 732 shares of Origin Bancorp stock in a transaction on Monday, October 27th. The shares were acquired at an average cost of $34.25 per share, with a total value of $25,071.00. Following the transaction, the insider owned 1,467 shares in the company, valued at $50,244.75. This trade represents a 99.59% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Cecil W. Jones acquired 8,500 shares of the firm’s stock in a transaction on Tuesday, November 4th. The stock was bought at an average price of $34.71 per share, with a total value of $295,035.00. Following the completion of the acquisition, the director directly owned 12,709 shares in the company, valued at approximately $441,129.39. This represents a 201.95% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 25,918 shares of company stock valued at $893,280 over the last quarter. 6.39% of the stock is owned by company insiders.

Analyst Ratings Changes

OBK has been the subject of a number of research reports. Piper Sandler upped their price objective on shares of Origin Bancorp from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, October 27th. Wall Street Zen raised shares of Origin Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. DA Davidson began coverage on Origin Bancorp in a research note on Tuesday. They set a “buy” rating and a $42.00 price objective on the stock. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Origin Bancorp in a report on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $42.80.

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.