T. Rowe Price Investment Manageme recently announced the acquisition of new stake in Origin Bancorp Inc. (NASDAQ:OBNK). This fresh investment now brings its stake to 10.41% valued currently at $117.19 million. In addition, BlackRock Fund Advisors raised its holdings by 0.12 million to 1.79 million shares. And The Vanguard Group, Inc. has lifted its position by 8.89% or 99135.0 shares – to 1.21 million shares.
With over 80269.0 Origin Bancorp Inc. (OBNK) shares trading Tuesday and a closing price of $38.58 on the day, the dollar volume was approximately $3.1 million. The shares have shown a negative half year performance of -6.36% and its price on 01/24/23 lost nearly -0.36%. Currently, there are 30.67M common shares owned by the public and among those 29.06M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 5 analysts who have offered their price forecasts for OBNK have a consensus price objective of $48.40. The analysts have set the share’s price value over the next 12 months at a high of $52.00 and a low of $46.00. The average price target is 20.29% above its recent price level and an upside to the estimated low will see the stock gain 16.13% over that period. But an upside of 25.81% will see the stock hit the forecast high price target while median target price for the stock is $48.00.
Insiders at the company have transacted a total of 39 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 28 of these insider trades were purchases, accounting for 253,388 shares. Insider sales of the common stock occurred on 11 occasions, with total insider shares sold totaling 19,514 shares.
The top 3 mutual fund holders in Origin Bancorp Inc. are T Rowe Price Small Cap Stock Fund, Vanguard Total Stock Market Index, and T Rowe Price Small Cap Value Fund. T Rowe Price Small Cap Stock Fund owns 0.93 million shares of the company’s stock, all valued at over $34.15 million. The company bought an additional 0.11 million shares recently to bring their total holdings to about 3.03% of the shares outstanding. Vanguard Total Stock Market Index bought 0.25 million shares to see its total holdings expand to 0.9 million shares valued at over $33.14 million and representing 2.94% of the shares outstanding. T Rowe Price Small Cap Value Fund sold 1400.0 shares to bring its total holdings to over 0.81 million shares at a value of $29.56 million. T Rowe Price Small Cap Value Fund now owns shares totaling to 2.63% of the shares outstanding.
Shares of Origin Bancorp Inc. (NASDAQ: OBNK) opened at $38.51, down -$0.21 from a prior closing price of $38.72. However, the script later moved the day high at 38.94, down -0.36%. The company’s stock has a 5-day price change of 0.31% and -3.93% over the past three months. OBNK shares are trading 5.12% year to date (YTD), with the 12-month market performance down to -9.16% lower. It has a 12-month low price of $35.36 and touched a high of $47.28 over the same period. OBNK has an average intraday trading volume of 98.05K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 4.31%, -0.25%, and -3.49% respectively.
Institutional ownership of Origin Bancorp Inc. (NASDAQ: OBNK) shares accounts for 48.80% of the company’s 30.67M shares outstanding. Mutual fund holders own 17.76%, while other institutional holders and individual stakeholders account for 31.31% and 16.92% respectively.
It has a market capitalization of $1.18B and a beta (3y monthly) value of 0.94. The stock’s trailing 12-month PE ratio is 10.91, while the earnings-per-share (ttm) stands at $3.54. The company has a debt-to-equity ratio at 0.22. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.34% over the week and 2.31% over the month.
Analysts forecast that Origin Bancorp Inc. (OBNK) will achieve an EPS of $0.98 for the current quarter, $1.13 for the next quarter and $4.58 for 2023. The lowest estimate earnings-per-share for the quarter is $0.75 while analysts give the company a high EPS estimate of $1.09. Comparatively, EPS for the current quarter was $1.2 a year ago. Earnings per share for the fiscal year are expected to increase by 197.30%, and 35.76% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 5 brokerage firm advisors rate Origin Bancorp Inc. (OBNK) as a “Strong Buy” at a consensus score of 1.60. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 0 of the 5 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the OBNK, a number of firms have released research notes about the stock. Raymond James stated their Strong Buy rating for the stock in a research note on October 10, 2022, with the firm’s price target at $49. DA Davidson coverage for the Origin Bancorp Inc. (OBNK) stock in a research note released on May 11, 2021 offered a Buy rating with a price target of $51. DA Davidson on their part issued Neutral rating on September 15, 2020.
