Origin Bancorp (NASDAQ:OBK) Upgraded by Raymond James to “Strong-Buy” Rating

Origin Bancorp (NASDAQ:OBK) was upgraded by equities research analysts at Raymond James from a “moderate buy” rating to a “strong-buy” rating in a research note issued to investors on Thursday,Zacks.com reports.

OBK has been the topic of several other reports. DA Davidson cut their price objective on shares of Origin Bancorp from $41.00 to $38.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Keefe, Bruyette & Woods lifted their target price on Origin Bancorp from $37.00 to $42.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Finally, Stephens raised their price target on shares of Origin Bancorp from $37.00 to $38.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $36.80.

Origin Bancorp Trading Up 0.1 %

OBK opened at $32.80 on Thursday. Origin Bancorp has a 1-year low of $27.69 and a 1-year high of $37.56. The stock has a market capitalization of $1.02 billion, a PE ratio of 13.50 and a beta of 1.00. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.17. The firm has a 50-day moving average price of $34.01 and a two-hundred day moving average price of $32.63.

Origin Bancorp (NASDAQ:OBK) last issued its earnings results on Wednesday, October 23rd. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.06). Origin Bancorp had a net margin of 12.12% and a return on equity of 7.36%. The business had revenue of $160.25 million during the quarter, compared to the consensus estimate of $93.40 million. During the same period last year, the business posted $0.71 EPS. As a group, equities analysts anticipate that Origin Bancorp will post 2.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Origin Bancorp

Hedge funds have recently made changes to their positions in the stock. Stieven Capital Advisors L.P. bought a new position in Origin Bancorp in the second quarter valued at about $5,637,000. Wellington Management Group LLP acquired a new stake in Origin Bancorp during the 3rd quarter worth approximately $4,187,000. Dimensional Fund Advisors LP grew its holdings in Origin Bancorp by 11.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,023,197 shares of the company’s stock worth $32,454,000 after acquiring an additional 102,159 shares during the last quarter. Royce & Associates LP grew its holdings in Origin Bancorp by 7.3% during the 3rd quarter. Royce & Associates LP now owns 961,892 shares of the company’s stock worth $30,934,000 after acquiring an additional 65,844 shares during the last quarter. Finally, Millennium Management LLC increased its position in Origin Bancorp by 92.3% in the 2nd quarter. Millennium Management LLC now owns 124,521 shares of the company’s stock valued at $3,950,000 after acquiring an additional 59,763 shares during the period. 54.68% of the stock is currently owned by institutional investors and hedge funds.

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.