Origin Bancorp (NYSE:OBK) Price Target Raised to $60.00

Origin Bancorp (NYSE:OBK) had its price target hoisted by Keefe, Bruyette & Woods from $57.00 to $60.00 in a report published on Tuesday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other research analysts also recently commented on OBK. Raymond James Financial reaffirmed an “outperform” rating on shares of Origin Bancorp in a research report on Thursday, July 23rd. Piper Sandler boosted their price target on shares of Origin Bancorp from $55.00 to $56.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. DA Davidson raised their price objective on Origin Bancorp from $53.00 to $62.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Origin Bancorp in a report on Friday, July 24th. Finally, Stephens increased their price objective on Origin Bancorp from $49.00 to $54.00 and gave the company an “overweight” rating in a report on Friday, April 24th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $58.00.

Origin Bancorp Price Performance

Shares of NYSE OBK opened at $53.89 on Tuesday. The stock’s 50-day simple moving average is $51.10 and its 200-day simple moving average is $46.31. The firm has a market capitalization of $1.67 billion, a PE ratio of 16.84 and a beta of 0.72. Origin Bancorp has a fifty-two week low of $32.13 and a fifty-two week high of $55.57. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.97 and a current ratio of 0.97.

Origin Bancorp (NYSE:OBK) last announced its quarterly earnings results on Wednesday, July 22nd. The company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. The firm had revenue of $107.59 million during the quarter. Origin Bancorp had a return on equity of 8.03% and a net margin of 16.26%. As a group, equities research analysts forecast that Origin Bancorp will post 4.13 EPS for the current fiscal year.

Origin Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.9%. Origin Bancorp’s payout ratio is presently 31.25%.

Institutional Investors Weigh In On Origin Bancorp

A number of hedge funds have recently added to or reduced their stakes in the company. Tudor Investment Corp ET AL acquired a new position in Origin Bancorp in the third quarter worth about $2,964,000. Vanguard Group Inc. increased its holdings in shares of Origin Bancorp by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 1,753,530 shares of the company’s stock valued at $65,950,000 after acquiring an additional 37,050 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Origin Bancorp by 3.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,425,220 shares of the company’s stock valued at $59,089,000 after acquiring an additional 49,001 shares in the last quarter. Endeavour Capital Advisors Inc. lifted its stake in Origin Bancorp by 44.3% during the fourth quarter. Endeavour Capital Advisors Inc. now owns 276,308 shares of the company’s stock worth $10,392,000 after purchasing an additional 84,812 shares during the last quarter. Finally, Sterling Capital Management LLC lifted its stake in Origin Bancorp by 882.2% during the first quarter. Sterling Capital Management LLC now owns 15,951 shares of the company’s stock worth $661,000 after purchasing an additional 14,327 shares during the last quarter. Institutional investors and hedge funds own 54.68% of the company’s stock.

About Origin Bancorp

Origin Bancorp, Inc (NYSE: OBK) is a bank holding company based in Atlanta, Georgia, and is the parent of Origin Bank, a full-service commercial banking franchise. The company provides a broad range of financial products and services to individuals, small and middle-market businesses, and institutional clients across the southeastern United States.

Through Origin Bank, the company offers a variety of deposit products, including checking and savings accounts, money market accounts, and certificates of deposit.