Origin Bancorp (NYSE:OBK) Releases Earnings Results

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

Origin Bancorp Stock Down 1.1%

NYSE OBK traded down $0.55 on Wednesday, reaching $51.22. The company had a trading volume of 137,897 shares, compared to its average volume of 181,605. 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 1 year low of $32.28 and a 1 year high of $55.57. The firm has a 50-day moving average of $52.93 and a 200-day moving average of $48.02. The firm has a market capitalization of $1.58 billion, a PE ratio of 16.01 and a beta of 0.74.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. DA Davidson lifted their price target on shares of Origin Bancorp from $53.00 to $62.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Keefe, Bruyette & Woods raised their target price on shares of Origin Bancorp from $57.00 to $60.00 and gave the company an “outperform” rating in a research note on Tuesday, August 4th. Piper Sandler lifted their target price on shares of Origin Bancorp from $55.00 to $56.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Raymond James Financial upped their price target on shares of Origin Bancorp from $56.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday, October 2nd. Finally, Benchmark upgraded Origin Bancorp to a “hold” rating in a report on Thursday, September 24th. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $58.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in OBK. Nisa Investment Advisors LLC grew its position in shares of Origin Bancorp by 31.9% during the third quarter. Nisa Investment Advisors LLC now owns 2,546 shares of the company’s stock worth $133,000 after buying an additional 616 shares in the last quarter. Counterpoint Mutual Funds LLC acquired a new position in Origin Bancorp in the third quarter worth about $672,000. USA Financial Formulas acquired a new position in Origin Bancorp in the third quarter worth about $49,000. Steel Grove Capital Advisors LLC increased its holdings in Origin Bancorp by 50.0% in the third quarter. Steel Grove Capital Advisors LLC now owns 6,000 shares of the company’s stock valued at $314,000 after buying an additional 2,000 shares during the last quarter. Finally, Integrated Wealth Concepts LLC bought a new stake in Origin Bancorp in the second quarter valued at about $47,000. 54.68% of the stock is currently owned by hedge funds and other institutional investors.

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.