Origin Bancorp (NYSE:OBK) Posts Earnings Results

Origin Bancorp (NYSE:OBK) issued its quarterly earnings data on Wednesday. The company reported $1.22 earnings per share for the quarter, FiscalAI reports. The company had revenue of $113.22 million for the quarter. Origin Bancorp had a return on equity of 7.97% and a net margin of 16.26%.

Origin Bancorp Price Performance

OBK traded up $0.29 on Friday, hitting $52.46. 48,242 shares of the company were exchanged, compared to its average volume of 181,181. The business’s fifty day moving average is $52.88 and its 200 day moving average is $48.15. The firm has a market capitalization of $1.62 billion, a P/E ratio of 16.42 and a beta of 0.74. Origin Bancorp has a fifty-two week low of $32.28 and a fifty-two week high of $55.57. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.98 and a current ratio of 0.98.

Origin Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 30th. Shareholders of record on Friday, November 13th will be given a $0.28 dividend. The ex-dividend date is Friday, November 13th. This represents a $1.12 annualized dividend and a yield of 2.1%. Origin Bancorp’s dividend payout ratio is presently 31.25%.

Analyst Upgrades and Downgrades

OBK has been the subject of a number of research reports. DA Davidson boosted their target price on shares of Origin Bancorp from $53.00 to $62.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Weiss Ratings raised shares of Origin Bancorp from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, October 8th. Raymond James Financial boosted their price objective on Origin Bancorp from $56.00 to $58.00 and gave the stock an “outperform” rating in a research note on Friday, October 2nd. Keefe, Bruyette & Woods lifted their target price on shares of Origin Bancorp from $57.00 to $60.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 4th. Finally, Benchmark upgraded Origin Bancorp to a “hold” rating in a report on Thursday, September 24th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $58.00.

Institutional Investors Weigh In On Origin Bancorp

Several hedge funds have recently modified their holdings of the company. BlackRock Inc. purchased a new stake in Origin Bancorp during the second quarter worth approximately $132,196,000. Dimensional Fund Advisors LP grew its stake in shares of Origin Bancorp by 3.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,425,220 shares of the company’s stock valued at $59,089,000 after buying an additional 49,001 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Origin Bancorp by 1.1% during the 2nd quarter. Wellington Management Group LLP now owns 518,389 shares of the company’s stock valued at $26,516,000 after buying an additional 5,737 shares during the period. Basswood Capital Management L.L.C. purchased a new stake in shares of Origin Bancorp during the 2nd quarter valued at about $21,391,000. Finally, Bank of New York Mellon Corp purchased a new position in Origin Bancorp in the 2nd quarter worth approximately $18,968,000. 54.68% of the stock is owned by institutional investors and hedge funds.

About Origin Bancorp

Origin Bancorp, Inc is a regional bank holding company headquartered in Ruston, Louisiana. Through its primary subsidiary, Origin Bank, the company provides banking and financial services to businesses, individuals and communities.

Origin Bank offers commercial and small-business lending, consumer loans, residential mortgage lending, deposit accounts, treasury management, cash-management services and wealth-related solutions. Its commercial banking activities include financing for operating needs, real estate and other business purposes, while its consumer offerings include personal deposits and lending products.

The bank serves customers through banking locations and digital channels across Louisiana, Texas and Mississippi.