Raymond James Reiterates “Strong-Buy” Rating for Origin Bancorp (NASDAQ:OBK)

Origin Bancorp (NASDAQ:OBK)‘s stock had its “strong-buy” rating reissued by research analysts at Raymond James in a research report issued on Friday,Benzinga reports. They currently have a $44.00 target price on the stock, up from their previous target price of $40.00. Raymond James’ price objective would suggest a potential upside of 16.63% from the company’s previous close.

Several other equities analysts also recently weighed in on the stock. Stephens reaffirmed an “overweight” rating and set a $42.00 price target on shares of Origin Bancorp in a report on Thursday. DA Davidson cut their price target 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. Piper Sandler boosted their price objective on Origin Bancorp from $35.00 to $42.00 and gave the company a “neutral” rating in a research report on Friday. Finally, Keefe, Bruyette & Woods increased their target price on Origin Bancorp from $37.00 to $42.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $41.60.

Origin Bancorp Trading Up 1.8 %

Shares of Origin Bancorp stock opened at $37.73 on Friday. Origin Bancorp has a 1-year low of $27.69 and a 1-year high of $38.76. The company’s fifty day simple moving average is $34.54 and its 200-day simple moving average is $33.30. 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 stock has a market capitalization of $1.18 billion, a PE ratio of 15.34 and a beta of 1.00.

Origin Bancorp (NASDAQ:OBK) last released its earnings results on Wednesday, October 23rd. The company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.06). The company had revenue of $160.25 million for the quarter, compared to analysts’ expectations of $93.40 million. Origin Bancorp had a net margin of 12.34% and a return on equity of 6.91%. During the same quarter last year, the firm posted $0.71 earnings per share. As a group, equities analysts anticipate that Origin Bancorp will post 2.43 earnings per share for the current year.

Hedge Funds Weigh In On Origin Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OBK. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Origin Bancorp during the 3rd quarter worth approximately $30,000. Brooklyn Investment Group bought a new stake in Origin Bancorp in the fourth quarter worth $48,000. Quantbot Technologies LP raised its stake in Origin Bancorp by 78.1% during the third quarter. Quantbot Technologies LP now owns 2,706 shares of the company’s stock valued at $87,000 after purchasing an additional 1,187 shares in the last quarter. SG Americas Securities LLC bought a new position in Origin Bancorp during the third quarter valued at $160,000. Finally, Janney Montgomery Scott LLC purchased a new position in shares of Origin Bancorp in the 4th quarter worth $219,000. 54.68% of the stock is owned by institutional investors.

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.