DA Davidson Increases Price Target for Origin Bancorp (NASDAQ:OBK) to $44.00

Origin Bancorp (NASDAQ:OBK – Get Free Report) has received an updated price target from financial analysts at DA Davidson, who raised it from $41.00 to $44.00. This information was shared with investors on Monday, according to reports from Benzinga. Currently, the brokerage maintains a "buy" rating on the stock. The new price target suggests a potential upside of 13.17% from Origin Bancorp's recent trading price.

Following this update, Origin Bancorp has been discussed in various reports by other financial institutions. For example, Keefe, Bruyette & Woods increased their target price for Origin Bancorp from $37.00 to $42.00, assigning the company an "outperform" rating in a note released on December 4th. Similarly, Stephens reiterated an "overweight" rating and set a price objective of $42.00 on January 23rd. Additionally, Piper Sandler raised their price target from $35.00 to $42.00, giving the stock a "neutral" rating on January 24th. Also on that date, Raymond James confirmed a "strong-buy" rating and also raised their target to $44.00 from a previous $40.00. Overall, among investment analysts, there is one hold rating, three buy ratings, and one strong buy rating for the stock. As per MarketBeat, Origin Bancorp currently has an average rating of "Buy" with a consensus price target of $42.80.

Origin Bancorp's Recent Trading Activity

On Monday, shares of NASDAQ:OBK opened at $38.88. The company's market capitalization stands at $1.21 billion, with a price-to-earnings (PE) ratio of 15.80 and a beta of 1.00. The 50-day and 200-day moving averages are $34.65 and $33.36, respectively. Origin Bancorp's financial position includes a debt-to-equity ratio of 0.17, a current ratio of 0.97, and a quick ratio of 0.97. The stock has experienced a low of $27.69 and a high of $39.48 over the past year.

Recent Institutional Investor Activity

Several large investors have modified their stakes in Origin Bancorp recently. Envestnet Asset Management Inc. increased its stake by 19.6% during the second quarter, now owning 60,044 shares valued at approximately $1,905,000 after acquiring an additional 9,851 shares. Dimensional Fund Advisors LP lifted its stake by 11.1%, owning 1,023,197 shares valued at $32,454,000 after adding 102,159 shares during the same period. HSBC Holdings PLC boosted its holdings by 20.2%, now having 16,007 shares valued at $503,000 after acquiring an extra 2,692 shares. Cubist Systematic Strategies LLC recorded a 120.1% increase in its position, owning 25,650 shares valued at $814,000. AQR Capital Management LLC also raised its stake by 72.7%, owning 22,392 shares valued at $710,000. Institutional investors currently hold 54.68% of the company's stock.

About Origin Bancorp

Origin Bancorp, Inc serves as a bank holding company for Origin Bank, which offers a range of banking and financial services primarily to small and medium-sized businesses as well as municipalities and retail clients across Texas, Louisiana, and Mississippi. Services include interest and non-interest checking accounts, savings deposits, money market accounts, and time deposits. The company also provides various types of loans, such as commercial real estate, construction, and consumer loans.

Origin, Bancorp, DA, Davidson, Price