Origin Bancorp (NYSE:OBK) Given New $62.00 Price Target at DA Davidson

Origin Bancorp (NYSE:OBK) had its price target hoisted by DA Davidson from $53.00 to $62.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.

OBK has been the topic of a number of other research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Origin Bancorp in a research note on Friday. Piper Sandler upped their price objective on shares of Origin Bancorp from $55.00 to $56.00 and gave the company a “neutral” rating in a research note on Friday. Raymond James Financial reissued an “outperform” rating on shares of Origin Bancorp in a research report on Thursday. Finally, Stephens upped their price target on shares of Origin Bancorp from $49.00 to $54.00 and gave the stock an “overweight” rating in a research report on Friday, April 24th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $55.00.

Origin Bancorp Trading Down 0.0%

NYSE:OBK opened at $53.61 on Friday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.02. The stock has a fifty day simple moving average of $49.75 and a 200-day simple moving average of $45.35. Origin Bancorp has a 52-week low of $32.13 and a 52-week high of $54.21. The company has a market capitalization of $1.66 billion, a PE ratio of 16.75 and a beta of 0.72.

Origin Bancorp (NYSE:OBK) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.09. Origin Bancorp had a return on equity of 8.03% and a net margin of 16.26%.The firm had revenue of $107.59 million during the quarter. On average, equities research analysts expect that Origin Bancorp will post 4.08 earnings per share for the current fiscal year.

Origin Bancorp Announces Dividend

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

Institutional Investors Weigh In On Origin Bancorp

Hedge funds have recently added to or reduced their stakes in the stock. Quarry LP bought a new stake in shares of Origin Bancorp during the third quarter valued at approximately $25,000. Kestra Advisory Services LLC acquired a new position in Origin Bancorp during the 4th quarter valued at about $27,000. International Assets Investment Management LLC acquired a new position in Origin Bancorp during the 4th quarter valued at about $30,000. Tower Research Capital LLC TRC raised its position in shares of Origin Bancorp by 232.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,620 shares of the company’s stock worth $94,000 after buying an additional 1,832 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Origin Bancorp by 42.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,509 shares of the company’s stock worth $104,000 after buying an additional 751 shares in the last quarter. 54.68% of the stock is currently owned by institutional investors.

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.