Origin Bancorp, Inc. (NYSE:OBK) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Analysts rate Origin Bancorp “Moderate Buy”: Five of seven analysts recommend buying the stock, while two advise holding it. The average 12-month price target is $55.00, with several firms recently raising their targets.
• Origin Bancorp reported quarterly earnings of $1.09 per share, exceeding the $1.00 consensus estimate, on revenue of $107.59 million. Shares opened at $55.08, near their 52-week high of $55.35.
• The company declared a quarterly dividend of $0.25 per share, equivalent to $1.00 annually and a 1.8% yield. Institutional investors own approximately 54.68% of outstanding shares.

Origin Bancorp, Inc. (NYSE:OBK - Get Free Report) has earned an average recommendation of "Moderate Buy" from the seven brokerages that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $55.00.

A number of equities research analysts have recently issued reports on OBK shares. DA Davidson boosted their target price on Origin Bancorp from $53.00 to $62.00 and gave the stock a "buy" rating in a research report on Friday, July 24th. Weiss Ratings reissued a "buy (b)" rating on shares of Origin Bancorp in a research note on Friday, July 24th. Raymond James Financial restated an "outperform" rating on shares of Origin Bancorp in a report on Thursday, July 23rd. Piper Sandler upped their price objective on shares of Origin Bancorp from $55.00 to $56.00 and gave the company a "neutral" rating in a research note on Friday, July 24th. Finally, Stephens raised their target price on shares of Origin Bancorp from $49.00 to $54.00 and gave the stock an "overweight" rating in a report on Friday, April 24th.

Origin Bancorp Price Performance

NYSE OBK opened at $55.08 on Thursday. The stock has a market capitalization of $1.70 billion, a P/E ratio of 17.21 and a beta of 0.72. Origin Bancorp has a 1 year low of $32.13 and a 1 year high of $55.35. The business's fifty day moving average is $50.24 and its two-hundred day moving average is $45.69. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.97 and a current ratio of 0.97.

Origin Bancorp (NYSE:OBK - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $107.59 million during the quarter. Origin Bancorp had a return on equity of 8.03% and a net margin of 16.26%. On average, research analysts forecast that Origin Bancorp will post 4.13 earnings per share for the current fiscal year.

Origin Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 14th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.8%. The ex-dividend date is Friday, August 14th. Origin Bancorp's payout ratio is presently 31.25%.

Institutional Trading of Origin Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the business. Revolve Wealth Partners LLC acquired a new position in Origin Bancorp during the second quarter valued at $219,000. Summit Financial Wealth Advisors LLC boosted its position in Origin Bancorp by 5.3% during the 1st quarter. Summit Financial Wealth Advisors LLC now owns 13,917 shares of the company's stock worth $577,000 after acquiring an additional 700 shares during the period. Bank of America Corp DE grew its stake in Origin Bancorp by 71.2% during the 1st quarter. Bank of America Corp DE now owns 74,524 shares of the company's stock valued at $3,090,000 after acquiring an additional 31,005 shares in the last quarter. Royal Bank of Canada grew its stake in Origin Bancorp by 2.6% during the 1st quarter. Royal Bank of Canada now owns 18,167 shares of the company's stock valued at $753,000 after acquiring an additional 457 shares in the last quarter. Finally, Empowered Funds LLC increased its holdings in shares of Origin Bancorp by 4.9% in the 1st quarter. Empowered Funds LLC now owns 138,469 shares of the company's stock valued at $5,741,000 after purchasing an additional 6,506 shares during the period. Institutional investors and hedge funds own 54.68% of the company's stock.

About Origin Bancorp

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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