Zacks Investment Research lowered shares of Origin Bancorp (NASDAQ:OBNK) from a buy rating to a hold rating in a research note published on Thursday morning.
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 issued reports on OBNK. Raymond James cut their target price 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. Stephens reissued a buy rating and issued a $44.00 target price on shares of Origin Bancorp in a research note on Thursday, October 25th.
Origin Bancorp (NASDAQ:OBNK) last posted its earnings results on Wednesday, October 24th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.01. The company had revenue of $49.73 million for the quarter, compared to analysts’ expectations of $49.77 million. Origin Bancorp had a return on equity of 9.99% and a net margin of 20.57%. As a group, analysts forecast that Origin Bancorp will post 2.07 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Strs Ohio bought a new stake in shares of Origin Bancorp in the second quarter worth about $196,000. California Public Employees Retirement System bought a new stake in shares of Origin Bancorp in the second quarter worth about $202,000. CIBC World Markets Inc. bought a new stake in shares of Origin Bancorp in the third quarter worth about $248,000. First Trust Advisors LP bought a new stake in shares of Origin Bancorp in the third quarter worth about $297,000. Finally, Bank of America Corp DE bought a new stake in shares of Origin Bancorp in the second quarter worth about $350,000. 42.27% 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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