Origin Bancorp, Inc. (NASDAQ:OBK) Forecasted to Earn FY2024 Earnings of $2.52 Per Share

Origin Bancorp, Inc. (NASDAQ:OBK) – Equities research analysts at DA Davidson cut their FY2024 earnings estimates for Origin Bancorp in a report released on Thursday, October 3rd. DA Davidson analyst M. Navas now expects that the company will post earnings per share of $2.52 for the year, down from their previous forecast of $2.53. The consensus estimate for Origin Bancorp’s current full-year earnings is $2.60 per share.

OBK has been the subject of a number of other reports. Stephens reissued an “overweight” rating and set a $39.00 price target on shares of Origin Bancorp in a research report on Thursday, July 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 investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Origin Bancorp currently has an average rating of “Moderate Buy” and a consensus target price of $36.00.

Origin Bancorp Trading Up 2.2 %

Shares of NASDAQ:OBK opened at $31.40 on Friday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.18. Origin Bancorp has a 52-week low of $26.68 and a 52-week high of $37.56. The stock has a market cap of $973.87 million, a price-to-earnings ratio of 11.85 and a beta of 0.99. The business has a 50-day moving average price of $31.95 and a 200-day moving average price of $31.52.

Origin Bancorp (NASDAQ:OBK) last announced its earnings results on Wednesday, July 24th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.05. The company had revenue of $164.26 million for the quarter, compared to analyst estimates of $90.70 million. Origin Bancorp had a return on equity of 7.94% and a net margin of 13.18%. During the same period in the prior year, the company posted $0.69 EPS.

Origin Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Thursday, August 15th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.91%. The ex-dividend date was Thursday, August 15th. Origin Bancorp’s payout ratio is currently 22.64%.

Hedge Funds Weigh In On Origin Bancorp

Several institutional investors and hedge funds have recently modified their holdings of OBK. PNC Financial Services Group Inc. acquired a new stake in Origin Bancorp in the fourth quarter valued at approximately $237,000. TD Asset Management Inc acquired a new stake in Origin Bancorp in the 4th quarter valued at $2,182,000. First National Bank of Omaha purchased a new stake in Origin Bancorp in the 4th quarter worth $472,000. Connectus Wealth LLC acquired a new position in Origin Bancorp during the fourth quarter worth $1,336,000. Finally, RMB Capital Management LLC purchased a new position in Origin Bancorp during the fourth quarter valued at $7,648,000. 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, 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.