Brokerages Set Origin Bancorp, Inc. (NYSE:OBK) Price Target at $48.50

Shares of Origin Bancorp, Inc. (NYSE:OBK) have been assigned an average recommendation of “Moderate Buy” from the six analysts that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $51.50.

OBK has been the topic of a number of research analyst reports. Stephens boosted their target price on shares of Origin Bancorp from $49.00 to $54.00 and gave the company an “overweight” rating in a research note on Friday, April 24th. Weiss Ratings raised Origin Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, April 27th. Finally, Piper Sandler set a $55.00 target price on Origin Bancorp and gave the stock a “neutral” rating in a research report on Sunday.

Institutional Investors Weigh In On Origin Bancorp

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Origin Bancorp by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 1,753,530 shares of the company’s stock worth $65,950,000 after purchasing an additional 37,050 shares during the period. Dimensional Fund Advisors LP grew its stake in Origin Bancorp by 3.6% in the 1st 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. State Street Corp raised its holdings in Origin Bancorp by 1.2% during the 4th quarter. State Street Corp now owns 923,148 shares of the company’s stock valued at $34,720,000 after acquiring an additional 10,741 shares during the period. Goldman Sachs Group Inc. raised its holdings in Origin Bancorp by 17.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 797,576 shares of the company’s stock valued at $29,997,000 after acquiring an additional 116,410 shares during the period. Finally, Kennedy Capital Management LLC lifted its position in shares of Origin Bancorp by 13.5% during the fourth quarter. Kennedy Capital Management LLC now owns 706,235 shares of the company’s stock worth $26,561,000 after acquiring an additional 83,971 shares in the last quarter. Hedge funds and other institutional investors own 54.68% of the company’s stock.

Origin Bancorp Stock Performance

Shares of NYSE:OBK traded down $0.08 during midday trading on Friday, reaching $51.23. The company had a trading volume of 81,126 shares, compared to its average volume of 145,176. The company’s 50 day moving average price is $48.64 and its 200 day moving average price is $44.33. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.02. The stock has a market cap of $1.58 billion, a P/E ratio of 19.86 and a beta of 0.72. Origin Bancorp has a 52-week low of $32.13 and a 52-week high of $52.90.

Origin Bancorp (NYSE:OBK) last posted its quarterly earnings results on Wednesday, April 22nd. The company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.01). Origin Bancorp had a net margin of 13.46% and a return on equity of 6.53%. The company had revenue of $104.04 million for the quarter. As a group, sell-side analysts anticipate that Origin Bancorp will post 4.03 EPS for the current fiscal year.

Origin Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Friday, May 15th. This is a positive change from Origin Bancorp’s previous quarterly dividend of $0.15. Origin Bancorp’s dividend payout ratio is currently 38.76%.

Origin Bancorp Company Profile

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.