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

Origin Bancorp (NASDAQ:OBK)‘s stock had its “strong-buy” rating reaffirmed by research analysts at Raymond James in a research report issued on Friday,Benzinga reports. They presently have a $44.00 target price on the stock, up from their previous target price of $40.00. Raymond James’ target price would suggest a potential upside of 15.20% from the company’s current price.

Other equities analysts also recently issued reports about the company. Piper Sandler lifted their target price on Origin Bancorp from $35.00 to $42.00 and gave the company a “neutral” rating in a research report on Friday. Stephens reaffirmed an “overweight” rating and set a $42.00 price target on shares of Origin Bancorp in a research note on Thursday. DA Davidson decreased their price objective 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. Finally, Keefe, Bruyette & Woods increased their target price on shares of Origin Bancorp from $37.00 to $42.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $41.60.

Origin Bancorp Stock Performance

Shares of NASDAQ OBK traded up $1.14 during trading on Friday, reaching $38.20. 159,819 shares of the stock traded hands, compared to its average volume of 146,691. The stock has a market capitalization of $1.19 billion, a P/E ratio of 15.55 and a beta of 1.00. Origin Bancorp has a 52-week low of $27.69 and a 52-week high of $38.76. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.97 and a quick ratio of 0.97. The company has a 50-day moving average of $34.44 and a 200-day moving average of $33.22.

Origin Bancorp (NASDAQ:OBK) last posted 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 during the quarter, compared to the consensus estimate of $93.40 million. During the same period in the previous year, the business earned $0.71 earnings per share. Analysts forecast that Origin Bancorp will post 2.43 EPS for the current fiscal year.

Institutional Investors Weigh In On Origin Bancorp

Institutional investors have recently added to or reduced their stakes in the company. Barclays PLC boosted its position in Origin Bancorp by 79.9% during the 3rd quarter. Barclays PLC now owns 78,187 shares of the company’s stock worth $2,515,000 after acquiring an additional 34,733 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Origin Bancorp by 80.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 72,986 shares of the company’s stock valued at $2,347,000 after acquiring an additional 32,619 shares in the last quarter. State Street Corp boosted its position in shares of Origin Bancorp by 2.0% in the third quarter. State Street Corp now owns 844,151 shares of the company’s stock worth $27,148,000 after buying an additional 16,309 shares during the period. Geode Capital Management LLC raised its position in Origin Bancorp by 1.4% during the third quarter. Geode Capital Management LLC now owns 673,189 shares of the company’s stock valued at $21,654,000 after buying an additional 9,435 shares during the period. Finally, International Assets Investment Management LLC increased its stake in Origin Bancorp by 3,116.0% in the 3rd quarter. International Assets Investment Management LLC now owns 24,281 shares of the company’s stock valued at $755,000 after buying an additional 23,526 shares during the period. Hedge funds and other institutional investors own 54.68% of the company’s stock.

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.