Origin Bancorp (NYSE:OBK) Releases Quarterly Earnings Results, Misses Estimates By $0.62 EPS

Key Points

• Origin Bancorp reported a quarterly earnings per share (EPS) of $0.27, missing the consensus estimate of $0.89 by $0.62.
• Several institutional investors have increased their stakes in Origin Bancorp, with a total of 54.68% ownership by institutional investors and hedge funds.
• Analysts are divided on the stock, with one "Strong Buy" rating, four "Buy" ratings, and one "Hold" rating, leading to a consensus rating of "Buy" and an average target price of $43.20.

Origin Bancorp (NYSE:OBK - Get Free Report) released its quarterly earnings results on Wednesday. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.62), Zacks reports. Origin Bancorp had a return on equity of 5.98% and a net margin of 11.98%.

Origin Bancorp Trading Up 0.0%

NYSE:OBK traded up $0.01 during midday trading on Wednesday, hitting $34.24. 151,559 shares of the company were exchanged, compared to its average volume of 153,374. The stock has a fifty day moving average of $36.12. Origin Bancorp has a fifty-two week low of $28.80 and a fifty-two week high of $41.17. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $1.07 billion, a P/E ratio of 15.29 and a beta of 0.79.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company increased its stake in Origin Bancorp by 2.0% in the second quarter. The Manufacturers Life Insurance Company now owns 15,402 shares of the company's stock valued at $550,000 after purchasing an additional 300 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Origin Bancorp by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,460 shares of the company's stock valued at $605,000 after purchasing an additional 775 shares during the period. Jump Financial LLC increased its stake in Origin Bancorp by 23.7% in the second quarter. Jump Financial LLC now owns 7,989 shares of the company's stock valued at $286,000 after purchasing an additional 1,531 shares during the period. Tower Research Capital LLC TRC increased its stake in Origin Bancorp by 232.5% in the second quarter. Tower Research Capital LLC TRC now owns 2,620 shares of the company's stock valued at $94,000 after purchasing an additional 1,832 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in Origin Bancorp by 8.0% in the second quarter. Ameriprise Financial Inc. now owns 56,324 shares of the company's stock valued at $2,013,000 after purchasing an additional 4,154 shares during the period. 54.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on OBK shares. Wall Street Zen cut shares of Origin Bancorp from a "hold" rating to a "sell" rating in a research note on Saturday, October 11th. DA Davidson upgraded shares of Origin Bancorp to a "strong-buy" rating in a report on Monday. Weiss Ratings restated a "hold (c)" rating on shares of Origin Bancorp in a report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Origin Bancorp from $41.00 to $45.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $43.20.

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, high net worth individuals, 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, residential mortgage, and paycheck protection program loans.

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