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

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

OBK has been the topic of a number of other research reports. Keefe, Bruyette & Woods lifted their target price on Origin Bancorp from $37.00 to $42.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. DA Davidson lowered their price objective on shares of Origin Bancorp from $41.00 to $38.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Finally, Stephens increased their target price on shares of Origin Bancorp from $37.00 to $38.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $36.80.

Origin Bancorp Stock Up 0.1 %

Origin Bancorp stock opened at $32.80 on Thursday. The company has a 50 day moving average of $34.01 and a 200-day moving average of $32.63. 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 has a twelve month low of $27.69 and a twelve month high of $37.56. The stock has a market capitalization of $1.02 billion, a PE ratio of 13.50 and a beta of 1.00.

Origin Bancorp (NASDAQ:OBK) last announced its earnings results on Wednesday, October 23rd. The company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.06). Origin Bancorp had a return on equity of 7.36% and a net margin of 12.12%. 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 posted $0.71 earnings per share. On average, equities research analysts anticipate that Origin Bancorp will post 2.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

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