DA Davidson Begins Coverage on Origin Bancorp (NYSE:OBK)

Research analysts at DA Davidson began coverage on shares of Origin Bancorp (NYSE:OBK) in a note issued to investors on Tuesday, MarketBeat.com reports. The firm set a “buy” rating and a $42.00 price target on the stock. DA Davidson’s target price would suggest a potential upside of 18.57% from the company’s previous close.

A number of other equities analysts also recently issued reports on the company. Wall Street Zen upgraded Origin Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Piper Sandler lifted their target price on shares of Origin Bancorp from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Origin Bancorp in a research report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods upped their price target on Origin Bancorp from $41.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, July 28th. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $42.80.

Origin Bancorp Stock Down 0.3%

Shares of OBK opened at $35.42 on Tuesday. The stock has a market cap of $1.10 billion, a PE ratio of 18.55 and a beta of 0.81. The firm’s fifty day moving average price is $34.64. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.08. Origin Bancorp has a twelve month low of $28.80 and a twelve month high of $41.17.

Origin Bancorp (NYSE:OBK) last posted its earnings results on Wednesday, October 22nd. The company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.62). The business had revenue of $99.62 million for the quarter, compared to analysts’ expectations of $103.95 million. Origin Bancorp had a net margin of 10.23% and a return on equity of 5.05%.

Insider Activity

In related news, Director Cecil W. Jones acquired 8,500 shares of Origin Bancorp stock in a transaction dated Tuesday, November 4th. The stock was purchased at an average cost of $34.71 per share, for a total transaction of $295,035.00. Following the purchase, the director directly owned 12,709 shares of the company’s stock, valued at approximately $441,129.39. This trade represents a 201.95% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jim Crotwell bought 3,000 shares of the firm’s stock in a transaction that occurred on Monday, October 27th. The stock was bought at an average cost of $34.32 per share, for a total transaction of $102,960.00. Following the completion of the acquisition, the insider owned 24,475 shares in the company, valued at $839,982. This trade represents a 13.97% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have purchased 25,918 shares of company stock worth $893,280. Company insiders own 6.39% of the company’s stock.

Hedge Funds Weigh In On Origin Bancorp

Several large investors have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. boosted its holdings in Origin Bancorp by 6.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 66,462 shares of the company’s stock worth $2,304,000 after buying an additional 4,054 shares during the period. CWM LLC lifted its holdings in shares of Origin Bancorp by 44.8% in the first quarter. CWM LLC now owns 1,018 shares of the company’s stock worth $35,000 after buying an additional 315 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Origin Bancorp during the first quarter valued at $226,000. TD Asset Management Inc boosted its holdings in shares of Origin Bancorp by 5.2% during the 1st quarter. TD Asset Management Inc now owns 49,676 shares of the company’s stock valued at $1,722,000 after purchasing an additional 2,440 shares during the last quarter. Finally, Federated Hermes Inc. bought a new stake in shares of Origin Bancorp in the first quarter worth about $40,000. Hedge funds and other institutional investors own 54.68% of the company’s stock.

Origin Bancorp Company Profile

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.