Origin Bancorp (NASDAQ:OBK) Given New $39.00 Price Target at Keefe, Bruyette & Woods

Origin Bancorp (NASDAQ:OBK) had its price objective raised by Keefe, Bruyette & Woods from $38.00 to $39.00 in a research note issued to investors on Monday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

OBK has been the subject of several other research reports. Stephens restated an overweight rating and issued a $39.00 target price on shares of Origin Bancorp in a research note on Thursday, July 25th. Piper Sandler reissued a neutral rating and set a $32.00 price target (up from $30.00) on shares of Origin Bancorp in a report on Friday, April 26th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $36.00.

Origin Bancorp Stock Performance

NASDAQ OBK opened at $32.51 on Monday. The business’s 50-day moving average price is $31.94 and its 200 day moving average price is $31.13. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.16. The firm has a market cap of $1.01 billion, a P/E ratio of 12.68 and a beta of 1.00. Origin Bancorp has a 52-week low of $26.68 and a 52-week high of $37.56.

Origin Bancorp (NASDAQ:OBK) last announced its earnings results on Wednesday, July 24th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.05. Origin Bancorp had a return on equity of 8.03% and a net margin of 13.18%. The company had revenue of $164.26 million for the quarter, compared to the consensus estimate of $90.70 million. During the same period last year, the business posted $0.69 EPS. On average, equities research analysts expect that Origin Bancorp will post 2.61 earnings per share for the current year.

Origin Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Thursday, August 15th will be issued a $0.15 dividend. The ex-dividend date is Thursday, August 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.85%. Origin Bancorp’s dividend payout ratio is presently 22.64%.

Institutional Investors Weigh In On Origin Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. purchased a new position in Origin Bancorp in the 3rd quarter valued at approximately $45,900,000. SG Americas Securities LLC acquired a new position in shares of Origin Bancorp during the 4th quarter worth $311,000. Raymond James & Associates acquired a new position in shares of Origin Bancorp during the 4th quarter worth $493,000. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Origin Bancorp in the 4th quarter worth about $246,000. Finally, Denali Advisors LLC acquired a new stake in Origin Bancorp in the 4th quarter valued at about $249,000. 54.68% of the stock is currently owned by institutional investors and hedge funds.

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.