Brokerages Set Origin Bancorp, Inc. (NYSE:OBK) Price Target at $48.50

Origin Bancorp, Inc. (NYSE:OBK) has been assigned an average recommendation of “Moderate Buy” from the six brokerages that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $48.50.

Several research firms have recently issued reports on OBK. Stephens upped their price objective on Origin Bancorp from $49.00 to $54.00 and gave the stock an “overweight” rating in a research report on Friday, April 24th. Weiss Ratings upgraded shares of Origin Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, April 27th.

Origin Bancorp Trading Down 0.2%

OBK opened at $51.30 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of 19.89 and a beta of 0.72. The business has a fifty day moving average price of $48.41 and a 200 day moving average price of $44.12. Origin Bancorp has a 12 month low of $32.13 and a 12 month high of $52.90.

Origin Bancorp (NYSE:OBK) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.01). The firm had revenue of $104.04 million during the quarter. Origin Bancorp had a return on equity of 6.53% and a net margin of 13.46%. Sell-side analysts expect that Origin Bancorp will post 4.03 earnings per share for the current fiscal year.

Origin Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.9%. This is an increase from Origin Bancorp’s previous quarterly dividend of $0.15. The ex-dividend date was Friday, May 15th. Origin Bancorp’s payout ratio is presently 38.76%.

Institutional Investors Weigh In On Origin Bancorp

Several large investors have recently modified their holdings of OBK. Millennium Management LLC lifted its holdings in shares of Origin Bancorp by 438.9% in the 3rd quarter. Millennium Management LLC now owns 301,217 shares of the company’s stock valued at $10,398,000 after buying an additional 245,320 shares during the period. Algebris UK Ltd. purchased a new position in Origin Bancorp in the fourth quarter worth $6,925,000. Nuveen LLC raised its position in Origin Bancorp by 139.2% in the fourth quarter. Nuveen LLC now owns 275,721 shares of the company’s stock worth $10,370,000 after acquiring an additional 160,469 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in Origin Bancorp by 219.0% in the third quarter. Ameriprise Financial Inc. now owns 179,657 shares of the company’s stock valued at $6,202,000 after acquiring an additional 123,333 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in shares of Origin Bancorp by 17.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 797,576 shares of the company’s stock worth $29,997,000 after purchasing an additional 116,410 shares during the period. 54.68% of the stock is owned by institutional investors and hedge funds.

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.