Origin Bancorp (NASDAQ:OBNK) Rating Downgraded to Maintain Zacks Investment Research

Origin Bancorp (NASDAQ:OBNK – Get Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report released Wednesday, Zacks.com reports.

According to Zacks, “Origin Bancorp Inc. is a financial holding company that provides services to small and medium-sized businesses, municipalities, high net worth individuals and retail customers. The company offers banking products and services such as savings, debit and credit cards, business and personal loans, mortgages, cash management, line of credit, online banking and electronic statements. Origin Bancorp Inc. is based in Louisiana, USA.”

OBNK shares opened at $39.08 on Wednesday. Origin Bancorp has a 1 year minimum of $36.80 and a 1 year maximum of $47.58. The company’s fifty-day simple moving average is $39.87 and its 200-day simple moving average is $42.37. The company has a market capitalization of $928.89 million, a P/E ratio of 8.92 and a beta of 1.00. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt ratio of 0.68.

Origin Bancorp (NASDAQ:OBNK – Get Rating) last announced its results on Wednesday, April 27. The company reported earnings per share (EPS) of $0.87 for the quarter, beating analyst consensus estimates of $0.86 by $0.01. Origin Bancorp had a net margin of 34.71% and a return on equity of 14.81%. During the same quarter last year, the company achieved EPS of $1.08. Equity research analysts expect Origin Bancorp to post EPS of 3.5 for the current fiscal year.

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Institutional investors have recently changed their positions in the company. Lazard Asset Management LLC increased its stake in Origin Bancorp by 59.6% in the 1st quarter. Lazard Asset Management LLC now owns 967 shares of the company valued at $40,000 after purchasing an additional 361 shares during the period. Quantbot Technologies LP purchased a new stake in Origin Bancorp stock in Q1 for approximately $42,000. Royal Bank of Canada increased its holdings of Origin Bancorp shares by 68.8% in the third quarter. Royal Bank of Canada now owns 2,556 shares of the company worth $109,000 after buying an additional 1,042 shares in the last quarter. Exane Derivatives purchased a new equity stake in Origin Bancorp in Q1 for approximately $114,000. Finally, the Canada Pension Plan Investment Board bought a new stake in shares of Origin Bancorp in the 4th quarter for a value of approximately $172,000. 55.50% of the shares are currently held by hedge funds and other institutional investors.

Origin Bancorp Company Profile (Get a rating)

Origin Bancorp, Inc operates as a bank holding company for Origin Bank which provides banking and financial services to small and medium-sized businesses, municipalities, high net worth individuals and retail customers in Texas, Louisiana and Mississippi. It offers interest-free and interest-bearing checking accounts, savings deposits, money market accounts, and term deposits; and offers commercial real estate, construction and land development, consumer goods, residential, commercial and industrial real estate loans, warehouse mortgages, residential mortgages and paycheck protection programs.

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