Origin Bancorp (NASDAQ:OBNK) Stock Rating Upgraded by Zacks Investment Research

Origin Bancorp (NASDAQ:OBNKGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports. The brokerage currently has a $42.00 price objective on the stock. Zacks Investment Research‘s target price indicates a potential upside of 10.03% from the company’s current price.

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. “

Shares of OBNK stock opened at $38.17 on Wednesday. Origin Bancorp has a 12-month low of $36.80 and a 12-month high of $47.58. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.68. The stock’s 50-day moving average price is $40.17 and its 200-day moving average price is $42.55. The stock has a market capitalization of $907.26 million, a price-to-earnings ratio of 8.71 and a beta of 1.00.

Origin Bancorp (NASDAQ:OBNKGet Rating) last issued its earnings results on Wednesday, April 27th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.01. Origin Bancorp had a return on equity of 14.81% and a net margin of 34.71%. During the same period in the previous year, the business earned $1.08 EPS. As a group, research analysts predict that Origin Bancorp will post 3.45 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in OBNK. BlackRock Inc. raised its position in Origin Bancorp by 12.6% during the 1st quarter. BlackRock Inc. now owns 1,883,033 shares of the company’s stock valued at $79,634,000 after purchasing an additional 210,740 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Origin Bancorp by 0.9% during the first quarter. Vanguard Group Inc. now owns 1,161,847 shares of the company’s stock valued at $49,135,000 after buying an additional 10,382 shares during the period. State Street Corp increased its stake in shares of Origin Bancorp by 3.0% during the first quarter. State Street Corp now owns 445,174 shares of the company’s stock valued at $18,826,000 after buying an additional 13,086 shares during the period. Geode Capital Management LLC increased its stake in shares of Origin Bancorp by 1.0% during the third quarter. Geode Capital Management LLC now owns 381,616 shares of the company’s stock valued at $16,161,000 after buying an additional 3,800 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of Origin Bancorp by 44.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 322,178 shares of the company’s stock valued at $13,827,000 after buying an additional 98,418 shares during the period. Institutional investors and hedge funds own 55.50% of the company’s stock.

About Origin Bancorp (Get Rating)

Origin Bancorp, Inc operates as a bank 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 Texas, Louisiana, and Mississippi. It offers noninterest and interest-bearing checking accounts, savings deposits, money market accounts, and time deposits; and offers commercial real estate, construction and land development, consumer, residential real estate, commercial and industrial, mortgage warehouse, residential mortgage, and paycheck protection program loans.

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