Origin Bancorp (NASDAQ:OBK) Price Target Cut to $38.00 by Analysts at DA Davidson

Origin Bancorp (NASDAQ:OBK) had its price target lowered by DA Davidson from $41.00 to $38.00 in a research note released on Tuesday, Benzinga reports. DA Davidson currently has a buy rating on the stock.

OBK has been the subject of several other reports. Stephens boosted their target price on Origin Bancorp from $37.00 to $38.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Keefe, Bruyette & Woods boosted their price objective on Origin Bancorp from $38.00 to $39.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $36.20.

Origin Bancorp Stock Up 2.2 %

Shares of NASDAQ:OBK opened at $31.81 on Tuesday. Origin Bancorp has a fifty-two week low of $27.69 and a fifty-two week high of $37.56. The firm’s 50 day moving average price is $32.04 and its 200 day moving average price is $31.87. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.18. The stock has a market cap of $990.56 million, a price-to-earnings ratio of 13.09 and a beta of 0.98.

Origin Bancorp (NASDAQ:OBK) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.06). The business had revenue of $160.25 million during the quarter, compared to analysts’ expectations of $93.40 million. Origin Bancorp had a net margin of 12.12% and a return on equity of 7.48%. During the same quarter in the previous year, the company posted $0.71 EPS. As a group, equities research analysts predict that Origin Bancorp will post 2.52 earnings per share for the current fiscal year.

Origin Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a dividend of $0.15 per share. The ex-dividend date is Friday, November 15th. This represents a $0.60 annualized dividend and a yield of 1.89%. Origin Bancorp’s dividend payout ratio is currently 24.69%.

Institutional Investors Weigh In On Origin Bancorp

A number of institutional investors have recently added to or reduced their stakes in the business. GSA Capital Partners LLP purchased a new stake in shares of Origin Bancorp in the first quarter valued at approximately $457,000. Empowered Funds LLC grew its stake in shares of Origin Bancorp by 8.0% during the 1st quarter. Empowered Funds LLC now owns 75,437 shares of the company’s stock worth $2,357,000 after purchasing an additional 5,600 shares during the period. Pitcairn Co. grew its stake in shares of Origin Bancorp by 7.8% during the 1st quarter. Pitcairn Co. now owns 6,685 shares of the company’s stock worth $209,000 after purchasing an additional 485 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Origin Bancorp by 14.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,359 shares of the company’s stock valued at $262,000 after purchasing an additional 1,079 shares in the last quarter. Finally, Tyche Wealth Partners LLC acquired a new stake in shares of Origin Bancorp in the second quarter valued at about $202,000. 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.