Origin Bancorp (NASDAQ:OBNK) Raised to “Buy” Zacks Investment Research

Origin Bancorp (NASDAQ: OBNK – Get a rating) has been updated by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note published Wednesday, Zacks.com reports. The brokerage currently has a price target of $42.00 on the stock. Zacks Investment ResearchThe stock’s price target indicates a potential upside of 10.35% from the stock’s previous close.

According to Zacks, “Origin Bancorp Inc. is a financial holding company that provides services to small and medium-sized businesses, municipalities, high net worth individuals and retail customers. The company offers banking products and services such as savings, debit and credit cards, business and personal loans, mortgages, cash management, line of credit, online banking and electronic statements. Origin Bancorp Inc. is based in Louisiana, USA.”

NASDAQ OBNK opened at $38.06 on Wednesday. The company’s fifty-day moving average price is $40.41 and its 200-day moving average price is $42.65. The stock has a market capitalization of $904.65 million, a price/earnings ratio of 8.69 and a beta of 1.00. The company has a debt ratio of 0.68, a current ratio of 0.85 and a quick ratio of 0.84. Origin Bancorp has a 1 year minimum of $36.80 and a 1 year maximum of $47.58.

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Origin Bancorp (NASDAQ: OBNK – Get a rating) last released its quarterly results on Wednesday, April 27. The company reported earnings per share of $0.87 for the quarter, beating the consensus estimate of $0.86 by $0.01. Origin Bancorp achieved a return on equity of 14.81% and a net margin of 34.71%. In the same quarter a year earlier, the company posted EPS of $1.08. Equity research analysts expect Origin Bancorp to post EPS of 3.45 for the current year.

Major investors have recently been buying and selling shares of the company. RFG Advisory LLC increased its stake in Origin Bancorp shares by 55.4% in Q4. RFG Advisory LLC now owns 14,528 shares of the company worth $624,000 after purchasing an additional 5,182 shares in the last quarter. Geode Capital Management LLC increased its stake in Origin Bancorp shares by 1.0% in Q3. Geode Capital Management LLC now owns 381,616 shares of the company worth $16,161,000 after purchasing an additional 3,800 shares last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its stake in Origin Bancorp shares by 28.4% in Q3. Grantham Mayo Van Otterloo & Co. LLC now owns 8,596 shares of the company worth $364,000 after purchasing an additional 1,900 shares in the last quarter. GSA Capital Partners LLP purchased a new equity stake in Origin Bancorp in Q3 for $465,000. Finally, Dimensional Fund Advisors LP increased its stake in Origin Bancorp shares by 9.2% in the third quarter. Dimensional Fund Advisors LP now owns 279,794 shares of the company worth $11,850,000 after purchasing an additional 23,558 shares in the last quarter. Hedge funds and other institutional investors own 55.50% of the company’s shares.

About Origin Bancorp (Get a rating)

Origin Bancorp, Inc operates as a bank holding company for Origin Bank which provides banking and financial services to small and medium-sized businesses, municipalities, high net worth individuals and retail customers in Texas, Louisiana and Mississippi. It offers interest-free and interest-bearing checking accounts, savings deposits, money market accounts, and term deposits; and offers commercial real estate, construction and land development, consumer goods, residential, commercial and industrial real estate loans, warehouse mortgages, residential mortgages and paycheck protection programs.

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