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

Origin Bancorp (NASDAQ:OBNKGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday, Zacks.com reports. The brokerage currently has a $42.00 price objective on the stock. Zacks Investment Research‘s price objective indicates a potential upside of 10.35% from the stock’s previous close.

According to Zacks, “Origin Bancorp Inc. is a financial holding company which provides services to small and medium-sized businesses, municipalities, high net-worth individuals and retail clients. The Company offers banking products and services such as savings accounts, debit and credit cards, business and personal loans, mortgages, cash management, line of credit, online banking, and e-statements. Origin Bancorp Inc. is based Louisiana, United States. “

NASDAQ OBNK opened at $38.06 on Wednesday. The business’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-to-earnings ratio of 8.69 and a beta of 1.00. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.85 and a quick ratio of 0.84. Origin Bancorp has a 1-year low of $36.80 and a 1-year high of $47.58.

Origin Bancorp (NASDAQ:OBNKGet Rating) last released its quarterly earnings results on Wednesday, April 27th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.01. Origin Bancorp had a return on equity of 14.81% and a net margin of 34.71%. During the same quarter in the previous year, the business posted $1.08 EPS. Equities research analysts anticipate that Origin Bancorp will post 3.45 EPS for the current year.

Large investors have recently bought and sold shares of the company. RFG Advisory LLC increased its stake in shares of Origin Bancorp by 55.4% in the 4th quarter. RFG Advisory LLC now owns 14,528 shares of the company’s stock worth $624,000 after purchasing an additional 5,182 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Origin Bancorp by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 381,616 shares of the company’s stock worth $16,161,000 after purchasing an additional 3,800 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its stake in shares of Origin Bancorp by 28.4% in the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 8,596 shares of the company’s stock worth $364,000 after purchasing an additional 1,900 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Origin Bancorp in the 3rd quarter worth $465,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of Origin Bancorp by 9.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 279,794 shares of the company’s stock 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 stock.

About Origin Bancorp (Get Rating)

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, high net worth individuals, 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, residential mortgage, and paycheck protection program loans.

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