Origin Bancorp (NASDAQ:OBNK) Rating Increased to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Origin Bancorp (NASDAQ:OBNK) from a hold rating to a buy rating in a research report sent to investors on Saturday, Zacks.com reports. They currently have $42.00 price objective on the stock.

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. “

Several other research firms have also recently commented on OBNK. DA Davidson assumed coverage on Origin Bancorp in a research report on Thursday, December 12th. They set a buy rating and a $41.50 target price for the company. Stephens restated a buy rating and set a $38.00 target price on shares of Origin Bancorp in a research report on Monday, November 25th.

Origin Bancorp stock opened at $36.55 on Friday. Origin Bancorp has a 52 week low of $30.85 and a 52 week high of $38.14. The business has a 50-day simple moving average of $36.82 and a 200 day simple moving average of $34.52. The company has a quick ratio of 1.05, a current ratio of 1.06 and a debt-to-equity ratio of 0.73. The stock has a market cap of $871.17 million, a price-to-earnings ratio of 16.61 and a beta of 0.51.

Origin Bancorp (NASDAQ:OBNK) last posted its earnings results on Thursday, October 24th. The company reported $0.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.01. Origin Bancorp had a return on equity of 9.47% and a net margin of 20.11%. The business had revenue of $57.50 million during the quarter, compared to analysts’ expectations of $56.44 million. On average, research analysts anticipate that Origin Bancorp will post 2.3 earnings per share for the current year.

In related news, insider Cary Stephen Davis sold 10,000 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $36.75, for a total transaction of $367,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.30% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in shares of Origin Bancorp by 8.5% in the 2nd quarter. BlackRock Inc. now owns 1,123,823 shares of the company’s stock worth $37,087,000 after purchasing an additional 88,103 shares in the last quarter. Patriot Financial Partners GP LP boosted its holdings in shares of Origin Bancorp by 108.2% in the 3rd quarter. Patriot Financial Partners GP LP now owns 577,285 shares of the company’s stock worth $19,478,000 after purchasing an additional 300,000 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Origin Bancorp by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 562,427 shares of the company’s stock worth $18,559,000 after purchasing an additional 9,333 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Origin Bancorp by 4.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 299,540 shares of the company’s stock worth $10,107,000 after purchasing an additional 11,493 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Origin Bancorp by 4.5% in the 2nd quarter. Northern Trust Corp now owns 190,716 shares of the company’s stock worth $6,294,000 after purchasing an additional 8,210 shares in the last quarter. Hedge funds and other institutional investors own 49.72% of the company’s stock.

About Origin Bancorp

Origin Bancorp, Inc operates as the 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 Louisiana, Texas, and Mississippi. It accepts noninterest and interest-bearing checking accounts, savings deposits, money market accounts, and time deposits; and offers single and multi-family real estate, residential construction, commercial building, and consumer loans, as well as loans to small and medium-sized businesses.

Further Reading: Cash Flow

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