Origin Bancorp (NASDAQ:OBK) Trading Down 3.2% – Should You Sell?

Origin Bancorp, Inc. (NASDAQ:OBK) shares fell 3.2% on Friday . The stock traded as low as $32.77 and last traded at $32.87. 23,441 shares traded hands during trading, a decline of 77% from the average session volume of 104,176 shares. The stock had previously closed at $33.94.

Analyst Upgrades and Downgrades

OBK has been the topic of several recent analyst reports. Stephens reaffirmed an “overweight” rating and issued a $39.00 price target on shares of Origin Bancorp in a report on Thursday, July 25th. Keefe, Bruyette & Woods upped their price objective on shares of Origin Bancorp from $38.00 to $39.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $36.00.

Origin Bancorp Price Performance

The firm has a market capitalization of $1.02 billion, a PE ratio of 12.81 and a beta of 0.99. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.97 and a current ratio of 0.97. The stock’s 50 day simple moving average is $31.94 and its two-hundred day simple moving average is $31.61.

Origin Bancorp (NASDAQ:OBK) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.62 by $0.05. The business had revenue of $164.26 million for the quarter, compared to analysts’ expectations of $90.70 million. Origin Bancorp had a return on equity of 7.94% and a net margin of 13.18%. During the same quarter in the previous year, the firm posted $0.69 earnings per share. On average, sell-side analysts forecast that Origin Bancorp, Inc. will post 2.61 EPS for the current year.

Origin Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Thursday, August 15th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date was Thursday, August 15th. Origin Bancorp’s dividend payout ratio is currently 22.64%.

Hedge Funds Weigh In On Origin Bancorp

Several large investors have recently modified their holdings of the business. GSA Capital Partners LLP bought a new position in shares of Origin Bancorp in the first quarter worth $457,000. Fisher Asset Management LLC purchased a new position in shares of Origin Bancorp during the 4th quarter valued at about $1,552,000. Goldman Sachs Group Inc. purchased a new stake in Origin Bancorp during the 4th quarter valued at approximately $20,935,000. Wakefield Asset Management LLLP purchased a new position in Origin Bancorp in the second quarter worth about $902,000. Finally, Linscomb Wealth Inc. purchased a new stake in Origin Bancorp in the 2nd quarter valued at about $614,000. Institutional investors own 54.68% of the company’s stock.

About Origin Bancorp

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, 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, and residential mortgage loans.