Origin Bancorp (NASDAQ:OBK) Given Strong-Buy Rating at Raymond James

Raymond James reissued their strong-buy rating on shares of Origin Bancorp (NASDAQ:OBK) in a research note issued to investors on Friday,Benzinga reports. The firm currently has a $44.00 target price on the stock, up from their previous target price of $40.00.

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

Origin Bancorp Stock Performance

OBK opened at $37.73 on Friday. The company has a current ratio of 0.97, a quick 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 firm has a 50 day moving average of $34.48 and a two-hundred day moving average of $33.25. The firm has a market capitalization of $1.18 billion, a PE ratio of 14.37 and a beta of 1.00.

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 return on equity of 6.91% and a net margin of 12.34%. The business had revenue of $160.25 million for the quarter, compared to analysts’ expectations of $93.40 million. During the same period last year, the business earned $0.71 EPS. On average, analysts anticipate that Origin Bancorp will post 2.43 EPS for the current year.

Origin Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.59%. The ex-dividend date is Friday, February 14th. Origin Bancorp’s payout ratio is currently 24.39%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Origin Bancorp in the 3rd quarter worth $30,000. Brooklyn Investment Group acquired a new stake in shares of Origin Bancorp in the fourth quarter valued at about $48,000. Quantbot Technologies LP increased its stake in shares of Origin Bancorp by 78.1% during the third quarter. Quantbot Technologies LP now owns 2,706 shares of the company’s stock worth $87,000 after purchasing an additional 1,187 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Origin Bancorp during the 3rd quarter worth about $160,000. Finally, Janney Montgomery Scott LLC purchased a new position in Origin Bancorp in the 4th quarter valued at about $219,000. 54.68% of the stock is 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.