Russell Investments Group Ltd. Sells 19,254 Shares of Origin Bancorp, Inc. $OBK

by · The Cerbat Gem

Russell Investments Group Ltd. trimmed its holdings in Origin Bancorp, Inc. (NYSE:OBK – Free Report) by 8.8% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 199,543 shares of the company’s stock after selling 19,254 shares during the quarter. Russell Investments Group Ltd. owned about 0.64% of Origin Bancorp worth $7,132,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Federated Hermes Inc. purchased a new stake in shares of Origin Bancorp during the 1st quarter valued at about $40,000. CWM LLC boosted its holdings in Origin Bancorp by 210.1% in the second quarter. CWM LLC now owns 3,157 shares of the company’s stock worth $113,000 after purchasing an additional 2,139 shares during the last quarter. Strs Ohio bought a new stake in Origin Bancorp in the 1st quarter worth approximately $218,000. Concurrent Investment Advisors LLC purchased a new stake in Origin Bancorp during the 2nd quarter valued at $224,000. Finally, Virtus Advisers LLC purchased a new stake in Origin Bancorp during the 1st quarter valued at $274,000. Institutional investors own 54.68% of the company’s stock.

Origin Bancorp Stock Up 0.1%

Shares of OBK opened at $37.41 on Friday. The stock has a 50-day moving average of $34.83. 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, Inc. has a 52 week low of $28.80 and a 52 week high of $41.17. The stock has a market capitalization of $1.16 billion, a PE ratio of 19.59 and a beta of 0.75.

Origin Bancorp (NYSE:OBK – Get Free Report) last announced its quarterly earnings data on Wednesday, October 22nd. The company reported $0.27 earnings per share (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 net margin of 10.23% and a return on equity of 5.05%.

Origin Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were paid a $0.15 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.6%. Origin Bancorp’s dividend payout ratio is 31.41%.

Insider Activity

In other news, Director Cecil W. Jones bought 8,500 shares of the stock in a transaction that occurred on Tuesday, November 4th. The shares were bought at an average price of $34.71 per share, for a total transaction of $295,035.00. Following the purchase, the director owned 12,709 shares in the company, valued at $441,129.39. This represents a 201.95% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, insider Derek Mcgee bought 732 shares of the company’s stock in a transaction that occurred on Monday, October 27th. The stock was purchased at an average cost of $34.25 per share, with a total value of $25,071.00. Following the acquisition, the insider directly owned 1,467 shares in the company, valued at $50,244.75. This trade represents a 99.59% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders purchased 25,918 shares of company stock worth $893,280. 6.39% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

Read Our Latest Research Report on Origin Bancorp

Origin Bancorp Profile

(Free Report)

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.

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