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

Key Points

• Analysts maintain a moderately bullish view: Origin Bancorp has a “Moderate Buy” consensus from eight analysts, with five buys and three holds. The average 12-month price target is $58.00, compared with the stock’s reported price of $51.84.
• Institutional ownership is substantial: Hedge funds and other institutional investors own 54.68% of Origin Bancorp, while several institutions recently initiated or increased positions.
• Quarterly results exceeded expectations: The company reported earnings of $1.09 per share versus the $1.00 consensus estimate, generated $107.59 million in revenue, and recently paid a quarterly dividend of $0.25 per share.

Shares of Origin Bancorp, Inc. (NYSE:OBK - Get Free Report) have received an average rating of "Moderate Buy" from the eight analysts that are covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $58.00.

Several research firms have recently issued reports on OBK. Piper Sandler lifted their price objective on shares of Origin Bancorp from $55.00 to $56.00 and gave the company a "neutral" rating in a research report on Friday, July 24th. Raymond James Financial upped their target price on shares of Origin Bancorp from $56.00 to $58.00 and gave the stock an "outperform" rating in a research report on Friday, October 2nd. Keefe, Bruyette & Woods upped their target price on shares of Origin Bancorp from $57.00 to $60.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 4th. DA Davidson raised their target price on shares of Origin Bancorp from $53.00 to $62.00 and gave the company a "buy" rating in a research note on Friday, July 24th. Finally, Weiss Ratings upgraded shares of Origin Bancorp from a "buy (b)" rating to a "buy (b+)" rating in a report on Thursday.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Nykredit A S purchased a new stake in shares of Origin Bancorp during the 2nd quarter valued at about $25,000. Allworth Financial LP bought a new position in shares of Origin Bancorp in the 2nd quarter valued at about $30,000. Integrated Wealth Concepts LLC bought a new position in shares of Origin Bancorp in the 2nd quarter valued at about $47,000. Public Employees Retirement System of Ohio purchased a new position in Origin Bancorp in the second quarter worth about $98,000. Finally, PNC Financial Services Group Inc. grew its position in Origin Bancorp by 42.7% in the first quarter. PNC Financial Services Group Inc. now owns 2,509 shares of the company's stock worth $104,000 after acquiring an additional 751 shares in the last quarter. Hedge funds and other institutional investors own 54.68% of the company's stock.

Origin Bancorp Stock Up 0.5%

Shares of OBK opened at $51.84 on Tuesday. The business's 50 day moving average is $53.44 and its 200 day moving average is $49.97. The company has a market capitalization of $1.60 billion, a PE ratio of 16.20 and a beta of 0.74. Origin Bancorp has a 12-month low of $32.13 and a 12-month high of $55.57. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.12.

Origin Bancorp (NYSE:OBK - Get Free Report) last posted its quarterly earnings results 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 return on equity of 7.97% and a net margin of 16.26%. The business had revenue of $107.59 million during the quarter. Research analysts expect that Origin Bancorp will post 4.11 earnings per share for the current fiscal year.

Origin Bancorp Announces Dividend

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

About Origin Bancorp

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.

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