Origin Bancorp (NYSE:OBK) Given New $62.00 Price Target at DA Davidson

Key Points

• DA Davidson raised Origin Bancorp’s price target to $62 from $53 and maintained a “buy” rating, implying approximately 15.7% upside from the reported share price.
• Analyst sentiment remains positive, with five “buy” ratings and two “hold” ratings producing a consensus “Moderate Buy” rating and an average target price of $55.
• Origin Bancorp exceeded quarterly earnings expectations, reporting $1.09 in EPS versus the $1.00 consensus estimate, on revenue of $107.59 million.

Origin Bancorp (NYSE:OBK - Get Free Report) had its target price boosted by stock analysts at DA Davidson from $53.00 to $62.00 in a report released on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. DA Davidson's target price would indicate a potential upside of 15.66% from the company's current price.

A number of other research firms have also recently weighed in on OBK. Stephens lifted their price objective on shares of Origin Bancorp from $49.00 to $54.00 and gave the company an "overweight" rating in a report on Friday, April 24th. Piper Sandler increased their price target on Origin Bancorp from $55.00 to $56.00 and gave the stock a "neutral" rating in a research report on Friday. Weiss Ratings restated a "buy (b)" rating on shares of Origin Bancorp in a research report on Friday. Finally, Raymond James Financial reissued an "outperform" rating on shares of Origin Bancorp in a research note on Thursday. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Origin Bancorp currently has a consensus rating of "Moderate Buy" and an average target price of $55.00.

Origin Bancorp Stock Performance

NYSE OBK opened at $53.61 on Friday. The firm has a market capitalization of $1.66 billion, a P/E ratio of 16.75 and a beta of 0.72. The stock has a 50-day simple moving average of $49.75 and a two-hundred day simple moving average of $45.35. 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 has a fifty-two week low of $32.13 and a fifty-two week high of $54.21.

Origin Bancorp (NYSE:OBK - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.09. Origin Bancorp had a return on equity of 8.03% and a net margin of 16.26%.The company had revenue of $107.59 million during the quarter. On average, equities analysts forecast that Origin Bancorp will post 4.08 earnings per share for the current year.

Institutional Trading of Origin Bancorp

Several institutional investors have recently made changes to their positions in the company. Quarry LP acquired a new stake in shares of Origin Bancorp during the 3rd quarter worth about $25,000. Kestra Advisory Services LLC acquired a new stake in shares of Origin Bancorp in the fourth quarter valued at $27,000. International Assets Investment Management LLC purchased a new position in Origin Bancorp during the 4th quarter valued at about $30,000. Tower Research Capital LLC TRC lifted its position in shares of Origin Bancorp by 232.5% during the second quarter. Tower Research Capital LLC TRC now owns 2,620 shares of the company's stock worth $94,000 after purchasing an additional 1,832 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in Origin Bancorp by 42.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,509 shares of the company's stock worth $104,000 after buying an additional 751 shares during the period. Hedge funds and other institutional investors 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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