Origin Bancorp (NYSE:OBK) Price Target Raised to $62.00 at DA Davidson

Origin Bancorp (NYSE:OBK) had its target price lifted by analysts at DA Davidson from $53.00 to $62.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. DA Davidson’s target price points to a potential upside of 15.66% from the stock’s current price.

A number of other equities analysts also recently commented on the stock. Piper Sandler upped their price objective on shares of Origin Bancorp from $55.00 to $56.00 and gave the stock a “neutral” rating in a research report on Friday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Origin Bancorp in a report on Friday. Raymond James Financial reaffirmed an “outperform” rating on shares of Origin Bancorp in a report on Thursday. Finally, Stephens increased their price target on shares of Origin Bancorp from $49.00 to $54.00 and gave the stock an “overweight” rating in a report on Friday, April 24th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $55.00.

Origin Bancorp Stock Performance

Shares of OBK opened at $53.61 on Friday. Origin Bancorp has a 12-month low of $32.13 and a 12-month high of $54.21. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.02. The firm has a market cap of $1.66 billion, a PE ratio of 16.75 and a beta of 0.72. The company’s 50 day simple moving average is $49.75 and its 200-day simple moving average is $45.35.

Origin Bancorp (NYSE:OBK) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. Origin Bancorp had a return on equity of 8.03% and a net margin of 16.26%.The company had revenue of $107.59 million during the quarter. As a group, equities analysts predict that Origin Bancorp will post 4.08 EPS for the current year.

Institutional Investors Weigh In On Origin Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of OBK. Kestra Advisory Services LLC purchased a new stake in shares of Origin Bancorp during the 4th quarter worth $27,000. Quarry LP purchased a new position in shares of Origin Bancorp in the 3rd quarter valued at about $25,000. International Assets Investment Management LLC purchased a new position in shares of Origin Bancorp in the 4th quarter valued at about $30,000. PNC Financial Services Group Inc. lifted its stake in shares of Origin Bancorp by 42.7% in the first quarter. PNC Financial Services Group Inc. now owns 2,509 shares of the company’s stock valued at $104,000 after purchasing an additional 751 shares during the period. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Origin Bancorp by 232.5% in the second quarter. Tower Research Capital LLC TRC now owns 2,620 shares of the company’s stock valued at $94,000 after purchasing an additional 1,832 shares during the period. Institutional investors and hedge funds own 54.68% of the company’s stock.

About Origin Bancorp

Origin Bancorp, Inc (NYSE: OBK) is a bank holding company based in Atlanta, Georgia, and is the parent of Origin Bank, a full-service commercial banking franchise. The company provides a broad range of financial products and services to individuals, small and middle-market businesses, and institutional clients across the southeastern United States.

Through Origin Bank, the company offers a variety of deposit products, including checking and savings accounts, money market accounts, and certificates of deposit.