Origin Bancorp (NASDAQ:OBK) Rating Increased to Strong-Buy at Raymond James

Raymond James upgraded shares of Origin Bancorp (NASDAQ:OBK) from a moderate buy rating to a strong-buy rating in a research report released on Thursday,Zacks.com reports.

A number of other equities research analysts have also recently weighed in on the company. DA Davidson dropped their price objective 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. 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 report on Wednesday, December 4th. Finally, Stephens raised their price target on shares of Origin Bancorp from $37.00 to $38.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $36.80.

Origin Bancorp Stock Up 0.1 %

Shares of NASDAQ OBK opened at $32.80 on Thursday. The company has a market capitalization of $1.02 billion, a P/E ratio of 13.50 and a beta of 1.00. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.97 and a quick ratio of 0.97. The company has a 50 day simple moving average of $34.01 and a 200-day simple moving average of $32.63. Origin Bancorp has a 1 year low of $27.69 and a 1 year high of $37.56.

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

Origin Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend was Friday, November 15th. Origin Bancorp’s dividend payout ratio (DPR) is presently 24.69%.

Hedge Funds Weigh In On Origin Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its holdings in Origin Bancorp by 11.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,023,197 shares of the company’s stock worth $32,454,000 after buying an additional 102,159 shares during the last quarter. Royce & Associates LP raised its position in shares of Origin Bancorp by 7.3% during the 3rd quarter. Royce & Associates LP now owns 961,892 shares of the company’s stock worth $30,934,000 after acquiring an additional 65,844 shares in the last quarter. State Street Corp lifted its stake in Origin Bancorp by 2.0% during the third quarter. State Street Corp now owns 844,151 shares of the company’s stock worth $27,148,000 after purchasing an additional 16,309 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Origin Bancorp by 1.4% in the third quarter. Geode Capital Management LLC now owns 673,189 shares of the company’s stock valued at $21,654,000 after purchasing an additional 9,435 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Origin Bancorp by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 238,661 shares of the company’s stock valued at $7,675,000 after purchasing an additional 3,220 shares in the last quarter. Institutional investors and hedge funds own 54.68% of the company’s stock.

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, 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.