Raymond James Reaffirms Strong-Buy Rating for Origin Bancorp (NASDAQ:OBK)

Origin Bancorp (NASDAQ:OBKGet Free Report)‘s stock had its “strong-buy” rating reaffirmed by investment analysts at Raymond James in a report issued on Friday,Benzinga reports. They presently have a $44.00 price objective on the stock, up from their previous price objective of $40.00. Raymond James’ price objective points to a potential upside of 15.20% from the stock’s previous close.

A number of other equities analysts have also issued reports on OBK. DA Davidson reduced their price target on shares of Origin Bancorp from $41.00 to $38.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Stephens reiterated an “overweight” rating and issued a $42.00 target price on shares of Origin Bancorp in a report on Thursday. Keefe, Bruyette & Woods boosted their price objective on Origin Bancorp from $37.00 to $42.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Finally, Piper Sandler boosted their price target on shares of Origin Bancorp from $35.00 to $42.00 and gave the company a “neutral” rating in a research report on Friday. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $41.60.

Read Our Latest Research Report on Origin Bancorp

Origin Bancorp Price Performance

OBK stock traded up $1.14 during mid-day trading on Friday, hitting $38.20. The company had a trading volume of 159,819 shares, compared to its average volume of 146,691. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.17. Origin Bancorp has a 12-month low of $27.69 and a 12-month high of $38.76. The company has a 50-day moving average price of $34.44 and a 200 day moving average price of $33.22. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 15.55 and a beta of 1.00.

Origin Bancorp (NASDAQ:OBKGet Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.06). Origin Bancorp had a net margin of 12.34% and a return on equity of 6.91%. The firm had revenue of $160.25 million for the quarter, compared to analysts’ expectations of $93.40 million. During the same quarter in the prior year, the business posted $0.71 EPS. On average, research analysts anticipate that Origin Bancorp will post 2.43 earnings per share for the current year.

Institutional Investors Weigh In On Origin Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its stake in shares of Origin Bancorp by 11.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,023,197 shares of the company’s stock valued at $32,454,000 after buying an additional 102,159 shares in the last quarter. Royce & Associates LP grew its stake in shares of Origin Bancorp by 7.3% during the third quarter. Royce & Associates LP now owns 961,892 shares of the company’s stock valued at $30,934,000 after purchasing an additional 65,844 shares during the last quarter. State Street Corp boosted its holdings in Origin Bancorp by 2.0% in the third quarter. State Street Corp now owns 844,151 shares of the company’s stock valued at $27,148,000 after acquiring an additional 16,309 shares during the last quarter. Geode Capital Management LLC lifted its position in Origin Bancorp by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 673,189 shares of the company’s stock valued at $21,654,000 after purchasing an additional 9,435 shares during the period. Finally, Tributary Capital Management LLC boosted its stake in Origin Bancorp by 31.8% during the 4th quarter. Tributary Capital Management LLC now owns 456,480 shares of the company’s stock worth $15,196,000 after acquiring an additional 110,056 shares during the last quarter. 54.68% of the stock is owned by institutional investors and hedge funds.

Origin Bancorp Company Profile

(Get 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, 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.

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Analyst Recommendations for Origin Bancorp (NASDAQ:OBK)

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