Origin Bancorp (NYSE:OBK) Posts Quarterly Earnings Results, Beats Expectations By $0.09 EPS

Origin Bancorp (NYSE:OBK) issued its earnings results on Wednesday. The company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09, FiscalAI reports. The firm had revenue of $107.59 million during the quarter. Origin Bancorp had a net margin of 13.46% and a return on equity of 6.53%.

Origin Bancorp Stock Down 0.4%

Shares of NYSE OBK traded down $0.23 during trading hours on Wednesday, hitting $51.57. 148,195 shares of the stock were exchanged, compared to its average volume of 185,814. Origin Bancorp has a 12 month low of $32.13 and a 12 month high of $53.20. The firm has a fifty day moving average price of $49.34 and a 200-day moving average price of $45.04. 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 company has a market cap of $1.59 billion, a PE ratio of 19.99 and a beta of 0.72.

Hedge Funds Weigh In On Origin Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of OBK. Quarry LP acquired a new position in Origin Bancorp during the 3rd quarter valued at about $25,000. Kestra Advisory Services LLC acquired a new stake in Origin Bancorp in the 4th quarter worth approximately $27,000. International Assets Investment Management LLC purchased a new stake in Origin Bancorp during the 4th quarter worth approximately $30,000. Tower Research Capital LLC TRC grew its position in 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 purchasing an additional 1,832 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in 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 purchasing an additional 751 shares during the last quarter. 54.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

OBK has been the subject of several research reports. Weiss Ratings raised shares of Origin Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, April 27th. Stephens lifted their price target 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. Finally, Piper Sandler reiterated a “neutral” rating and issued a $55.00 price target (up from $51.00) on shares of Origin Bancorp in a report on Sunday, July 12th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $51.50.

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.