Origin Bancorp (NASDAQ:OBNK) was downgraded by Zacks Investment Research from a "buy" rating to a "hold" rating in a note issued to investors on Tuesday, Zacks.com reports.
According to Zacks, "Origin Bancorp Inc. is a financial holding company which provides services to small and medium-sized businesses, municipalities, high net-worth individuals and retail clients. The Company offers banking products and services such as savings accounts, debit and credit cards, business and personal loans, mortgages, cash management, line of credit, online banking, and e-statements. Origin Bancorp Inc. is based Louisiana, United States. "
OBNK has been the topic of a number of other reports. Raymond James increased their target price on shares of Origin Bancorp from $28.00 to $37.00 and gave the stock a "strong-buy" rating in a report on Friday, January 29th. Piper Sandler upgraded shares of Origin Bancorp from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $28.00 to $37.00 in a research report on Friday, January 29th. Keefe, Bruyette & Woods upgraded shares of Origin Bancorp from a "market perform" rating to an "outperform" rating in a research report on Friday, January 29th. Finally, TheStreet upgraded shares of Origin Bancorp from a "d+" rating to a "c-" rating in a research report on Wednesday, November 18th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Origin Bancorp has a consensus rating of "Buy" and a consensus price target of $32.50.
Shares of NASDAQ:OBNK opened at $34.29 on Tuesday. The stock has a market capitalization of $806.06 million, a price-to-earnings ratio of 25.40 and a beta of 1.14. Origin Bancorp has a 1-year low of $15.98 and a 1-year high of $35.85. The company's fifty day moving average is $31.38 and its two-hundred day moving average is $26.30. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.98 and a current ratio of 1.00.
Origin Bancorp (NASDAQ:OBNK) last issued its earnings results on Thursday, January 28th. The company reported $0.75 earnings per share for the quarter, topping the Zacks' consensus estimate of $0.70 by $0.05. The company had revenue of $67.20 million for the quarter, compared to analysts' expectations of $65.86 million. Origin Bancorp had a net margin of 11.06% and a return on equity of 5.17%. Sell-side analysts expect that Origin Bancorp will post 1.49 EPS for the current fiscal year.
In other news, Director Fred Ronnie Myrick sold 1,000 shares of the firm's stock in a transaction dated Wednesday, December 9th. The shares were sold at an average price of $28.65, for a total transaction of $28,650.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 7.25% of the company's stock.
Several large investors have recently bought and sold shares of OBNK. Great West Life Assurance Co. Can lifted its stake in Origin Bancorp by 76.1% during the third quarter. Great West Life Assurance Co. Can now owns 2,052 shares of the company's stock valued at $46,000 after buying an additional 887 shares in the last quarter. BNP Paribas Arbitrage SA lifted its stake in Origin Bancorp by 456.1% during the third quarter. BNP Paribas Arbitrage SA now owns 5,261 shares of the company's stock valued at $112,000 after buying an additional 4,315 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in Origin Bancorp by 48.7% during the third quarter. Nisa Investment Advisors LLC now owns 5,650 shares of the company's stock valued at $121,000 after buying an additional 1,850 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Origin Bancorp during the fourth quarter valued at about $163,000. Finally, Citigroup Inc. lifted its stake in Origin Bancorp by 382.5% during the fourth quarter. Citigroup Inc. now owns 6,161 shares of the company's stock valued at $171,000 after buying an additional 4,884 shares in the last quarter. Institutional investors own 50.13% of the company's stock.
Origin Bancorp Company Profile
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, 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.
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