Origin Bancorp, Inc. (NYSE:OBK) Stock Has Average Target Price of $58.00

Shares of Origin Bancorp, Inc. (NYSE:OBK) have received an average rating of “Moderate Buy” from the eight ratings firms that are presently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $58.00.

Several research firms recently commented on OBK. Piper Sandler lifted their target price on shares of Origin Bancorp from $55.00 to $56.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Weiss Ratings raised Origin Bancorp from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, October 8th. DA Davidson increased their price target on Origin Bancorp from $53.00 to $62.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Benchmark raised Origin Bancorp to a “hold” rating in a research report on Thursday, September 24th. Finally, Keefe, Bruyette & Woods increased their target price on Origin Bancorp from $57.00 to $60.00 and gave the stock an “outperform” rating in a report on Tuesday, August 4th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nykredit A S bought a new position in Origin Bancorp during the second quarter valued at about $25,000. Allworth Financial LP purchased a new position in shares of Origin Bancorp during the 2nd quarter valued at $30,000. Integrated Wealth Concepts LLC bought a new stake in Origin Bancorp during the second quarter valued at approximately $47,000. Public Employees Retirement System of Ohio bought a new stake in Origin Bancorp in the 2nd quarter worth approximately $98,000. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Origin Bancorp by 42.7% during the 1st 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 last quarter. 54.68% of the stock is currently owned by hedge funds and other institutional investors.

Origin Bancorp Price Performance

NYSE:OBK opened at $51.80 on Tuesday. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of 16.19 and a beta of 0.74. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.98 and a current ratio of 0.98. The firm’s 50-day simple moving average is $53.26 and its 200 day simple moving average is $50.20. Origin Bancorp has a 52 week low of $32.13 and a 52 week high of $55.57.

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 the consensus estimate of $1.00 by $0.09. Origin Bancorp had a net margin of 16.26% and a return on equity of 7.97%. The business had revenue of $107.59 million during the quarter. As a group, sell-side analysts predict that Origin Bancorp will post 4.11 earnings per share for the current year.

Origin Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, August 14th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, August 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.9%. Origin Bancorp’s payout ratio is 31.25%.

Origin Bancorp Company Profile

Origin Bancorp, Inc is a financial holding company headquartered in Ruston, Louisiana, and the parent company of Origin Bank. Through its banking operations, the company provides financial services to individuals, businesses, and communities across Louisiana, Texas, and Mississippi.

Origin Bank offers a range of traditional banking products, including checking and savings accounts, certificates of deposit, residential and commercial real estate loans, consumer lending, and business loans.