DA Davidson Decreases Earnings Estimates for Origin Bancorp

Origin Bancorp, Inc. (NASDAQ:OBK - Free Report) - Research analysts at DA Davidson lowered their FY2024 EPS estimates for shares of Origin Bancorp in a report released on Tuesday, November 5th. DA Davidson analyst M. Navas now anticipates that the company will post earnings of $2.45 per share for the year, down from their previous forecast of $2.52. DA Davidson currently has a "Buy" rating and a $38.00 target price on the stock. The consensus estimate for Origin Bancorp's current full-year earnings is $2.47 per share. DA Davidson also issued estimates for Origin Bancorp's Q4 2024 earnings at $0.53 EPS and FY2025 earnings at $2.55 EPS.

Origin Bancorp (NASDAQ:OBK - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.06). Origin Bancorp had a return on equity of 7.48% and a net margin of 12.12%. The firm had revenue of $160.25 million during the quarter, compared to analyst estimates of $93.40 million. During the same quarter in the previous year, the business earned $0.71 earnings per share.

Several other brokerages have also recently commented on OBK. Stephens raised their target price on shares of Origin Bancorp from $37.00 to $38.00 and gave the stock an "overweight" rating in a report on Friday, October 25th. Keefe, Bruyette & Woods raised their target price on shares of Origin Bancorp from $38.00 to $39.00 and gave the stock an "outperform" rating in a report on Monday, July 29th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Origin Bancorp currently has a consensus rating of "Moderate Buy" and a consensus price target of $36.20.

Origin Bancorp Trading Up 11.8 %

Shares of OBK traded up $3.77 during midday trading on Wednesday, hitting $35.61. The stock had a trading volume of 387,948 shares, compared to its average volume of 104,563. Origin Bancorp has a fifty-two week low of $27.69 and a fifty-two week high of $37.56. The business has a 50-day simple moving average of $32.10 and a two-hundred day simple moving average of $31.90. The firm has a market cap of $1.11 billion, a P/E ratio of 14.65 and a beta of 0.98. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.18.

Origin Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend is Friday, November 15th. Origin Bancorp's dividend payout ratio is currently 24.69%.

Hedge Funds Weigh In On Origin Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OBK. Stieven Capital Advisors L.P. bought a new position in Origin Bancorp during the second quarter valued at approximately $5,637,000. Dimensional Fund Advisors LP raised its position in shares of Origin Bancorp by 11.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,023,197 shares of the company's stock valued at $32,454,000 after purchasing an additional 102,159 shares during the period. Royce & Associates LP raised its position in shares of Origin Bancorp by 7.3% in the third quarter. Royce & Associates LP now owns 961,892 shares of the company's stock valued at $30,934,000 after purchasing an additional 65,844 shares during the period. Tributary Capital Management LLC raised its position in shares of Origin Bancorp by 19.6% in the second quarter. Tributary Capital Management LLC now owns 398,486 shares of the company's stock valued at $12,640,000 after purchasing an additional 65,266 shares during the period. Finally, Millennium Management LLC raised its position in shares of Origin Bancorp by 92.3% in the second quarter. Millennium Management LLC now owns 124,521 shares of the company's stock valued at $3,950,000 after purchasing an additional 59,763 shares during the period. 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, 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, and residential mortgage loans.