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

Origin Bancorp (NYSE:OBKFree Report) had its target price hoisted by DA Davidson from $53.00 to $62.00 in a report published on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.

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

View Our Latest Stock Analysis on OBK

Origin Bancorp Stock Down 0.0%

NYSE:OBK opened at $53.61 on Friday. Origin Bancorp has a 52 week low of $32.13 and a 52 week high of $54.21. The firm has a market capitalization of $1.66 billion, a PE ratio of 16.75 and a beta of 0.72. 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 stock has a 50 day moving average of $49.75 and a 200-day moving average of $45.35.

Origin Bancorp (NYSE:OBKGet Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.09. Origin Bancorp had a net margin of 16.26% and a return on equity of 8.03%. The business had revenue of $107.59 million during the quarter. Analysts predict that Origin Bancorp will post 4.08 EPS for the current year.

Origin Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be paid a $0.25 dividend. The ex-dividend date is Friday, August 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.9%. Origin Bancorp’s dividend payout ratio (DPR) is presently 31.25%.

Hedge Funds Weigh In On Origin Bancorp

Several large investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its position in Origin Bancorp by 15.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 185,941 shares of the company’s stock worth $6,419,000 after purchasing an additional 24,949 shares during the last quarter. Tudor Investment Corp ET AL acquired a new position in shares of Origin Bancorp during the third quarter valued at about $2,964,000. Vanguard Group Inc. raised its position in shares of Origin Bancorp by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 1,753,530 shares of the company’s stock valued at $65,950,000 after buying an additional 37,050 shares during the last quarter. Endeavour Capital Advisors Inc. lifted its stake in shares of Origin Bancorp by 44.3% in the fourth quarter. Endeavour Capital Advisors Inc. now owns 276,308 shares of the company’s stock valued at $10,392,000 after buying an additional 84,812 shares during the period. Finally, Sterling Capital Management LLC grew its position in Origin Bancorp by 882.2% during the first quarter. Sterling Capital Management LLC now owns 15,951 shares of the company’s stock worth $661,000 after buying an additional 14,327 shares in the last quarter. 54.68% of the stock is currently owned by institutional investors and hedge funds.

Origin Bancorp Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Origin Bancorp (NYSE:OBK)

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