Origin Bancorp (NASDAQ:OBNK) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Origin Bancorp (NASDAQ:OBNKGet Rating) from a hold rating to a buy rating in a report issued on Wednesday morning, Zacks.com reports. They currently have $42.00 price objective on the stock.

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. “

Shares of OBNK stock opened at $38.87 on Wednesday. Origin Bancorp has a fifty-two week low of $36.80 and a fifty-two week high of $47.58. The firm has a market capitalization of $923.90 million, a price-to-earnings ratio of 8.87 and a beta of 1.00. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.84 and a current ratio of 0.85. The stock’s 50-day simple moving average is $40.07 and its 200-day simple moving average is $42.47.

Origin Bancorp (NASDAQ:OBNKGet Rating) last issued its quarterly earnings results on Wednesday, April 27th. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.01. Origin Bancorp had a return on equity of 14.81% and a net margin of 34.71%. During the same quarter last year, the business earned $1.08 EPS. As a group, equities analysts forecast that Origin Bancorp will post 3.45 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 31st. Investors of record on Tuesday, May 17th will be given a $0.15 dividend. The ex-dividend date is Monday, May 16th. This represents a $0.60 dividend on an annualized basis and a yield of 1.54%. This is a positive change from Origin Bancorp’s previous quarterly dividend of $0.13. Origin Bancorp’s dividend payout ratio is currently 13.70%.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Lazard Asset Management LLC boosted its position in Origin Bancorp by 59.6% in the first quarter. Lazard Asset Management LLC now owns 967 shares of the company’s stock valued at $40,000 after buying an additional 361 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Origin Bancorp in the first quarter valued at approximately $42,000. Royal Bank of Canada boosted its position in Origin Bancorp by 68.8% in the third quarter. Royal Bank of Canada now owns 2,556 shares of the company’s stock valued at $109,000 after buying an additional 1,042 shares during the last quarter. Exane Derivatives acquired a new position in Origin Bancorp in the first quarter valued at approximately $114,000. Finally, Canada Pension Plan Investment Board acquired a new position in Origin Bancorp in the fourth quarter valued at approximately $172,000. Hedge funds and other institutional investors own 55.50% of the company’s stock.

About Origin Bancorp (Get Rating)

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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