Cecil Jones, a director at Origin Bancorp, Inc. (NYSE: OBK), has recently acquired 8,500 shares of the company’s stock in a transaction dated November 4, 2023. The purchase was made at an average price of $34.71 per share, amounting to a total investment of $295,035.00. Following this acquisition, Jones now holds 12,709 shares of Origin Bancorp, with a total value of approximately $441,129.39, reflecting a significant increase of 201.95% in his ownership stake.
This transaction was disclosed in a filing with the Securities and Exchange Commission (SEC), highlighting the director’s confidence in the company’s future prospects.
Current Stock Performance and Financial Overview
On the trading day following the acquisition, Origin Bancorp’s stock opened at $34.63. The company currently boasts a market capitalization of $1.07 billion and maintains a price-to-earnings ratio of 18.13. The stock has shown stability, with a 50-day simple moving average of $35.48 and a 12-month price range between $28.80 and $41.17.
Origin Bancorp’s latest earnings report, released on October 22, 2023, indicated earnings per share (EPS) of $0.27, falling short of the consensus estimate of $0.89 by $0.62. The company reported revenue of $109.83 million, surpassing the expected $103.95 million. With a net margin of 10.23% and a return on equity of 5.09%, the financial metrics illustrate a mixed performance.
Investor Activity and Analyst Ratings
Recent institutional activity surrounding Origin Bancorp has also garnered attention. Several large investors have adjusted their positions in the stock. Notably, Envestnet Asset Management Inc. increased its holdings by 6.5% during the first quarter, now owning 66,462 shares valued at approximately $2.3 million. Other firms, such as Nisa Investment Advisors LLC and CWM LLC, have also expanded their investments in the company.
Currently, institutional investors hold 54.68% of Origin Bancorp’s stock, indicating strong institutional interest. Analyst views on the stock vary, with Wall Street Zen recently downgrading its rating from “hold” to “sell.” Conversely, DA Davidson upgraded the stock to “strong buy,” reflecting diverse sentiment among market analysts. The consensus rating across analysts stands at “Buy,” with a target price of $43.40.
Origin Bancorp, headquartered in Louisiana, offers a range of banking and financial services to clients, including small and medium-sized businesses, municipalities, and high net worth individuals across Texas, Louisiana, and Mississippi. Its portfolio includes various loan types and deposit accounts, which positions the company to serve a broad spectrum of customer needs.
As the financial landscape continues to evolve, investor movements and performance outcomes like those observed in Origin Bancorp will likely remain a focal point for market participants and analysts alike.
