Origin Bancorp (NASDAQ:OBK) Rating Increased to Strong-Buy at Raymond James

Raymond James upgraded shares of Origin Bancorp (NASDAQ:OBK) from a moderate buy rating to a strong-buy rating in a report published on Thursday,Zacks.com reports.

OBK has been the topic of several other reports. DA Davidson dropped their target price on Origin Bancorp from $41.00 to $38.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Stephens lifted their target price on shares of Origin Bancorp from $37.00 to $38.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Origin Bancorp from $37.00 to $42.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $36.80.

Origin Bancorp Stock Up 0.1 %

OBK stock opened at $32.80 on Thursday. The company has a market capitalization of $1.02 billion, a P/E ratio of 13.50 and a beta of 1.00. Origin Bancorp has a 12 month low of $27.69 and a 12 month high of $37.56. The firm’s fifty day simple moving average is $34.01 and its 200-day simple moving average is $32.63. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.97 and a quick ratio of 0.97.

Origin Bancorp (NASDAQ:OBK) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.60 EPS for the quarter, missing the consensus estimate 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 7.36%. During the same period in the previous year, the company posted $0.71 earnings per share. As a group, equities research analysts forecast that Origin Bancorp will post 2.46 earnings per share for the current year.

Origin Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date of this dividend was Friday, November 15th. Origin Bancorp’s dividend payout ratio is presently 24.69%.

Institutional Investors Weigh In On Origin Bancorp

Several large investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its stake in shares of Origin Bancorp by 11.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,023,197 shares of the company’s stock worth $32,454,000 after buying an additional 102,159 shares in the last quarter. Royce & Associates LP lifted its stake in Origin Bancorp by 7.3% in the 3rd quarter. Royce & Associates LP now owns 961,892 shares of the company’s stock worth $30,934,000 after purchasing an additional 65,844 shares in the last quarter. State Street Corp boosted its holdings in shares of Origin Bancorp by 2.0% during the 3rd quarter. State Street Corp now owns 844,151 shares of the company’s stock worth $27,148,000 after purchasing an additional 16,309 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Origin Bancorp by 1.4% in the third quarter. Geode Capital Management LLC now owns 673,189 shares of the company’s stock valued at $21,654,000 after purchasing an additional 9,435 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Origin Bancorp by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 238,661 shares of the company’s stock valued at $7,675,000 after purchasing an additional 3,220 shares in the last quarter. 54.68% of the stock is currently owned by hedge funds and other institutional investors.

About Origin Bancorp

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.