Origin Bancorp (NASDAQ:OBNK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.
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. “
A number of other analysts have also issued reports on OBNK. Stephens reaffirmed a “buy” rating and issued a $44.00 price target on shares of Origin Bancorp in a research note on Thursday, October 25th. Raymond James lowered their price target on Origin Bancorp from $46.00 to $42.00 and set a “strong-buy” rating on the stock in a research note on Friday, October 26th.
Shares of NASDAQ:OBNK opened at $36.22 on Tuesday. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.69. Origin Bancorp has a 1 year low of $27.41 and a 1 year high of $42.31.
Origin Bancorp (NASDAQ:OBNK) last issued its quarterly earnings results on Wednesday, October 24th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.01. The firm had revenue of $49.73 million for the quarter, compared to analyst estimates of $49.77 million. Origin Bancorp had a return on equity of 9.99% and a net margin of 20.57%. As a group, equities analysts anticipate that Origin Bancorp will post 2.08 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its stake in Origin Bancorp by 7.7% during the third quarter. BlackRock Inc. now owns 959,039 shares of the company’s stock worth $36,108,000 after buying an additional 68,184 shares during the last quarter. Vanguard Group Inc. boosted its stake in Origin Bancorp by 141.8% during the third quarter. Vanguard Group Inc. now owns 196,943 shares of the company’s stock worth $7,415,000 after buying an additional 115,478 shares during the last quarter. Vanguard Group Inc boosted its stake in Origin Bancorp by 141.8% during the third quarter. Vanguard Group Inc now owns 196,943 shares of the company’s stock worth $7,415,000 after buying an additional 115,478 shares during the last quarter. Northern Trust Corp acquired a new position in Origin Bancorp during the second quarter worth $6,297,000. Finally, Clearbridge Investments LLC boosted its stake in Origin Bancorp by 1,295,490.9% during the third quarter. Clearbridge Investments LLC now owns 142,515 shares of the company’s stock worth $5,366,000 after buying an additional 142,504 shares during the last quarter. 45.07% of the stock is currently owned by institutional investors.
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 offers accepts noninterest and interest-bearing checking accounts, savings deposits, money market accounts, and time deposits; and grants single and multi-family real estate, residential construction, and commercial building loans, as well as loans to small and medium-sized businesses, and consumers.
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