Origin Bancorp (NASDAQ:OBK) Stock Price Down 4.3% – Here’s What Happened

Shares of Origin Bancorp, Inc. (NASDAQ:OBK) fell 4.3% during mid-day trading on Thursday . The company traded as low as $30.64 and last traded at $30.75. 5,259 shares were traded during mid-day trading, a decline of 95% from the average session volume of 103,234 shares. The stock had previously closed at $32.13.

Analyst Upgrades and Downgrades

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

Origin Bancorp Trading Down 3.8 %

The stock has a market capitalization of $958.98 million, a P/E ratio of 11.86 and a beta of 0.99. The business has a 50 day simple moving average of $32.09 and a 200-day simple moving average of $31.68. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.97 and a current ratio of 0.97.

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

Institutional Trading of Origin Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in OBK. Goldman Sachs Group Inc. bought a new position in shares of Origin Bancorp in the fourth quarter valued at $20,935,000. PNC Financial Services Group Inc. purchased a new stake in Origin Bancorp during the fourth quarter valued at about $237,000. Tributary Capital Management LLC increased its position in shares of Origin Bancorp by 6.1% in the first quarter. Tributary Capital Management LLC now owns 333,220 shares of the company’s stock worth $10,410,000 after acquiring an additional 19,042 shares in the last quarter. Community Bank & Trust Waco Texas purchased a new position in shares of Origin Bancorp in the first quarter worth approximately $207,000. Finally, Argent Advisors Inc. raised its holdings in shares of Origin Bancorp by 87.0% during the first quarter. Argent Advisors Inc. now owns 23,583 shares of the company’s stock valued at $737,000 after acquiring an additional 10,972 shares during the period. 54.68% of the stock is owned by institutional investors and hedge funds.

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, 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.