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Sandler, Raymond James, Stephens initiate coverage of Origin Bancorp

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Sandler, Raymond James, Stephens initiate coverage of Origin Bancorp

Initiations

* Sandler O'Neill & Partners analyst Brad Milsaps is now covering Ruston, La.-based Origin Bancorp Inc.'s stock. He gave it a "hold" rating and set the price target at $41.

The analyst wrote that Origin Bancorp, after closing its IPO, has excess capital to leverage its existing infrastructure, particularly in Houston and Dallas-Fort Worth, Texas, "in hopes of improving the [return on average assets] to greater than 1.10% in 2018, 1.20% in 2019 and 1.30% in 2020."

Milsaps further wrote that he liked Origin Bancorp's "mix of legacy Northern Louisiana markets where [it] enjoys dominant market share coupled with the higher growth markets of Dallas, Houston, and Jackson, [Miss.,] where [Origin Bancorp] has small market share."

* William Wallace IV of Raymond James also initiated coverage of Origin Bancorp's stock. He gave it a "strong buy" rating and set the price target at $45.

The analyst introduced Origin Bancorp EPS estimates at $2.10 for 2018 and $2.40 for 2019.

According to Wallace, Origin Bancorp "has put energy-related asset quality issues behind it and is well-positioned to drive meaningful profitability increases moving forward."

* Origin Bancorp stock coverage was also initiated by Stephens Inc.'s Matt Olney. He gave it an "overweight" rating and a price target at $43.

Olney introduced Origin Bancorp EPS estimates at $2.08 for 2018 and $2.37 for 2019.

The analyst wrote that Origin Bancorp is a "high quality community bank focused on organic growth via producer lift-outs from regional banks within its footprint." Origin Bancorp's profitability, according to Olney, is at an "inflection point as multiple headwinds are abating."