Origin Bancorp Inc (OBNK) Given Average Recommendation of “Buy” by Analysts
Origin Bancorp Inc (NASDAQ:OBNK) has been given an average broker rating score of 1.67 (Buy) from the three analysts that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating and two have assigned a strong buy rating to the company.
Analysts have set a 12-month consensus target price of $42.67 for the company and are predicting that the company will post $0.53 earnings per share for the current quarter, according to Zacks. Zacks has also given Origin Bancorp an industry rank of 148 out of 257 based on the ratings given to its competitors.
Several equities analysts recently issued reports on the stock. Zacks Investment Research cut shares of Origin Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, November 22nd. Raymond James cut their price objective on shares of Origin Bancorp from $46.00 to $42.00 and set a “strong-buy” rating on the stock in a report on Friday, October 26th. Finally, Stephens restated a “buy” rating and issued a $44.00 price objective on shares of Origin Bancorp in a report on Thursday, October 25th.
Origin Bancorp (NASDAQ:OBNK) last announced its quarterly earnings results on Wednesday, October 24th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.01. Origin Bancorp had a net margin of 20.57% and a return on equity of 9.99%. The company had revenue of $49.73 million for the quarter, compared to analysts’ expectations of $49.77 million. On average, research analysts forecast that Origin Bancorp will post 2.08 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Friday, December 14th will be issued a $0.0325 dividend. This represents a $0.13 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date is Thursday, December 13th.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Marshall Wace LLP purchased a new stake in Origin Bancorp in the third quarter worth about $1,401,000. Clearbridge Investments LLC grew its holdings in Origin Bancorp by 1,295,490.9% in the third quarter. Clearbridge Investments LLC now owns 142,515 shares of the company’s stock worth $5,366,000 after purchasing an additional 142,504 shares during the period. Vanguard Group Inc. grew its holdings in Origin Bancorp by 141.8% in the third quarter. Vanguard Group Inc. now owns 196,943 shares of the company’s stock worth $7,415,000 after purchasing an additional 115,478 shares during the period. Morgan Stanley grew its holdings in Origin Bancorp by 15.4% in the third quarter. Morgan Stanley now owns 40,290 shares of the company’s stock worth $1,517,000 after purchasing an additional 5,389 shares during the period. Finally, Teachers Advisors LLC grew its holdings in Origin Bancorp by 13.5% in the third quarter. Teachers Advisors LLC now owns 34,642 shares of the company’s stock worth $1,304,000 after purchasing an additional 4,127 shares during the period. Institutional investors and hedge funds own 45.07% of the company’s stock.
About Origin Bancorp
Origin Bancorp, Inc operates as the 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 Louisiana, Texas, and Mississippi. It offers accepts noninterest and interest-bearing checking accounts, savings deposits, money market accounts, and time deposits; and grants single and multi-family real estate, residential construction, and commercial building loans, as well as loans to small and medium-sized businesses, and consumers.
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