Brokerages Set $41.50 Price Target for Origin Bancorp Inc (NASDAQ:OBNK)

Origin Bancorp Inc (NASDAQ:OBNK) has been assigned a consensus broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy rating. Origin Bancorp’s rating score has improved by 40.1% from three months ago as a result of various analysts’ ratings changes.

Brokers have set a 1 year consensus target price of $41.50 for the company and are forecasting that the company will post $0.62 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Origin Bancorp an industry rank of 178 out of 256 based on the ratings given to its competitors.

Separately, Zacks Investment Research cut shares of Origin Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, June 6th.

Several hedge funds have recently added to or reduced their stakes in OBNK. BlackRock Inc. increased its stake in Origin Bancorp by 7.6% during the 4th quarter. BlackRock Inc. now owns 1,032,328 shares of the company’s stock valued at $35,181,000 after purchasing an additional 73,289 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Origin Bancorp by 15.2% during the fourth quarter. Geode Capital Management LLC now owns 97,687 shares of the company’s stock valued at $3,329,000 after purchasing an additional 12,912 shares in the last quarter. Two Sigma Investments LP acquired a new stake in shares of Origin Bancorp in the fourth quarter valued at about $291,000. Legal & General Group Plc raised its position in shares of Origin Bancorp by 14.5% in the fourth quarter. Legal & General Group Plc now owns 3,017 shares of the company’s stock valued at $103,000 after buying an additional 381 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Origin Bancorp by 3.7% in the fourth quarter. Northern Trust Corp now owns 182,131 shares of the company’s stock valued at $6,207,000 after buying an additional 6,547 shares during the last quarter. 47.61% of the stock is owned by hedge funds and other institutional investors.

Shares of Origin Bancorp stock traded up $0.15 during trading hours on Friday, reaching $33.00. The company’s stock had a trading volume of 34,080 shares, compared to its average volume of 141,176. The business’s 50 day simple moving average is $33.93. Origin Bancorp has a one year low of $27.41 and a one year high of $41.86. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.02 and a current ratio of 1.10. The stock has a market cap of $780.06 million, a PE ratio of 15.00 and a beta of 0.40.

Origin Bancorp (NASDAQ:OBNK) last posted its earnings results on Wednesday, July 24th. The company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.11). Origin Bancorp had a return on equity of 9.30% and a net margin of 20.20%. The business had revenue of $54.15 million during the quarter, compared to the consensus estimate of $55.53 million. Research analysts anticipate that Origin Bancorp will post 2.4 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be paid a dividend of $0.093 per share. The ex-dividend date is Thursday, August 15th. This is a boost from Origin Bancorp’s previous quarterly dividend of $0.03. This represents a $0.37 dividend on an annualized basis and a dividend yield of 1.13%. Origin Bancorp’s payout ratio is currently 5.91%.

About Origin Bancorp

Origin Bancorp, Inc operates as the holding company for Origin Bank that provides banking and financial services to small and medium-sized businesses, municipalities, high net worth individuals, and retail clients in Louisiana, Texas, and Mississippi. It accepts noninterest and interest-bearing checking accounts, savings deposits, money market accounts, and time deposits; and offers single and multi-family real estate, residential construction, commercial building, and consumer loans, as well as loans to small and medium-sized businesses.

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