Origin Bancorp (NASDAQ:OBK) Upgraded to “Strong-Buy” at Raymond James

Origin Bancorp (NASDAQ:OBK) was upgraded by investment analysts at Raymond James from a “moderate buy” rating to a “strong-buy” rating in a report issued on Thursday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the stock. Stephens upped their price objective on shares of Origin Bancorp from $37.00 to $38.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Keefe, Bruyette & Woods lifted their price objective on shares of Origin Bancorp from $37.00 to $42.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Finally, DA Davidson cut their target price on Origin Bancorp from $41.00 to $38.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $36.80.

Origin Bancorp Stock Performance

Shares of NASDAQ:OBK opened at $32.80 on Thursday. Origin Bancorp has a 12-month low of $27.69 and a 12-month high of $37.56. The company’s 50 day moving average price is $34.01 and its two-hundred day moving average price is $32.63. The firm has a market cap of $1.02 billion, a PE ratio of 13.50 and a beta of 1.00. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.17.

Origin Bancorp (NASDAQ:OBK) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.06). The company had revenue of $160.25 million for the quarter, compared to analyst estimates of $93.40 million. Origin Bancorp had a return on equity of 7.36% and a net margin of 12.12%. During the same period in the prior year, the company earned $0.71 EPS. Equities research analysts predict that Origin Bancorp will post 2.46 earnings per share for the current year.

Hedge Funds Weigh In On Origin Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Franklin Resources Inc. grew its holdings in Origin Bancorp by 27.6% during the 3rd quarter. Franklin Resources Inc. now owns 71,321 shares of the company’s stock worth $2,302,000 after acquiring an additional 15,405 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Origin Bancorp by 1.4% in the third quarter. Geode Capital Management LLC now owns 673,189 shares of the company’s stock worth $21,654,000 after purchasing an additional 9,435 shares during the last quarter. Barclays PLC increased its holdings in Origin Bancorp by 79.9% in the third quarter. Barclays PLC now owns 78,187 shares of the company’s stock valued at $2,515,000 after purchasing an additional 34,733 shares during the period. Y Intercept Hong Kong Ltd bought a new position in Origin Bancorp during the 3rd quarter worth $542,000. Finally, XTX Topco Ltd acquired a new position in Origin Bancorp during the 3rd quarter worth about $258,000. Institutional investors and hedge funds own 54.68% 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, 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, and residential mortgage loans.