Keefe, Bruyette & Woods Issues Positive Forecast for Origin Bancorp (NYSE:OBK) Stock Price

Origin Bancorp (NYSE:OBK) had its price target lifted by equities researchers at Keefe, Bruyette & Woods from $57.00 to $60.00 in a research note issued to investors on Tuesday, August 4th,Benzinga reports. The firm currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 13.21% from the stock’s previous close.

A number of other analysts have also recently issued reports on OBK. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Origin Bancorp in a research note on Friday, July 24th. DA Davidson lifted their target price on Origin Bancorp from $53.00 to $62.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Stephens boosted their price target on Origin Bancorp from $49.00 to $54.00 and gave the stock an “overweight” rating in a report on Friday, April 24th. Piper Sandler upped their price target on Origin Bancorp from $55.00 to $56.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of Origin Bancorp in a report on Thursday, July 23rd. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.00.

Origin Bancorp Stock Performance

Origin Bancorp stock traded down $0.25 during mid-day trading on Tuesday, reaching $53.00. 59,524 shares of the stock traded hands, compared to its average volume of 185,454. The stock has a market capitalization of $1.64 billion, a PE ratio of 16.56 and a beta of 0.72. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.98 and a quick ratio of 0.98. Origin Bancorp has a 12-month low of $32.13 and a 12-month high of $55.57. The business’s 50-day moving average is $52.67 and its 200-day moving average is $47.52.

Origin Bancorp (NYSE:OBK) last announced its earnings results on Wednesday, July 22nd. The company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. The company had revenue of $107.59 million for the quarter. Origin Bancorp had a return on equity of 7.97% and a net margin of 16.26%. As a group, sell-side analysts predict that Origin Bancorp will post 4.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Origin Bancorp

Institutional investors have recently made changes to their positions in the company. California State Teachers Retirement System lifted its holdings in Origin Bancorp by 5,228.7% during the second quarter. California State Teachers Retirement System now owns 1,529,487 shares of the company’s stock worth $78,233,000 after buying an additional 1,500,784 shares during the period. Nykredit A S purchased a new stake in shares of Origin Bancorp during the second quarter valued at about $25,000. Wellington Management Group LLP grew its position in shares of Origin Bancorp by 1.1% in the 2nd quarter. Wellington Management Group LLP now owns 518,389 shares of the company’s stock worth $26,516,000 after buying an additional 5,737 shares during the last quarter. Beacon Pointe Advisors LLC purchased a new stake in Origin Bancorp during the second quarter valued at approximately $476,000. Finally, Empowered Funds LLC purchased a new position in Origin Bancorp in the second quarter worth $7,366,000. Hedge funds and other institutional investors own 54.68% of the company’s stock.

Origin Bancorp Company Profile

Origin Bancorp, Inc (NYSE: OBK) is a bank holding company based in Ruston, Louisiana, 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.