Origin Bancorp (NYSE:OBK) Lowered to “Hold” Rating by Piper Sandler

Piper Sandler cut shares of Origin Bancorp (NYSE:OBK) from a strong-buy rating to a hold rating in a research report released on Sunday,Zacks.com reports.

Other research analysts also recently issued reports about the company. Stephens lifted their price target on Origin Bancorp from $49.00 to $54.00 and gave the company an “overweight” rating in a report on Friday, April 24th. Weiss Ratings raised shares of Origin Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, April 27th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $51.50.

Origin Bancorp Stock Performance

OBK stock opened at $50.99 on Friday. Origin Bancorp has a 1-year low of $32.13 and a 1-year high of $52.90. The business has a 50-day moving average price of $48.72 and a 200 day moving average price of $44.46. The company has a market capitalization of $1.58 billion, a P/E ratio of 19.76 and a beta of 0.72. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.97 and a quick ratio of 0.97.

Origin Bancorp (NYSE:OBK) last posted its quarterly earnings results on Wednesday, April 22nd. The company reported $0.89 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.01). Origin Bancorp had a net margin of 13.46% and a return on equity of 6.53%. The business had revenue of $104.04 million during the quarter. As a group, equities research analysts forecast that Origin Bancorp will post 4.03 EPS for the current fiscal year.

Origin Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were issued a $0.25 dividend. This is a boost from Origin Bancorp’s previous quarterly dividend of $0.15. This represents a $1.00 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Friday, May 15th. Origin Bancorp’s dividend payout ratio is 38.76%.

Institutional Trading of Origin Bancorp

Several large investors have recently bought and sold shares of the stock. AQR Capital Management LLC lifted its stake in shares of Origin Bancorp by 50.5% during the first quarter. AQR Capital Management LLC now owns 39,056 shares of the company’s stock worth $1,354,000 after buying an additional 13,107 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Origin Bancorp by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,460 shares of the company’s stock valued at $605,000 after acquiring an additional 775 shares during the period. Goldman Sachs Group Inc. raised its stake in Origin Bancorp by 3.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 653,589 shares of the company’s stock worth $22,660,000 after acquiring an additional 20,146 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Origin Bancorp by 49.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 71,849 shares of the company’s stock worth $2,491,000 after acquiring an additional 23,906 shares during the period. Finally, Jane Street Group LLC grew its stake in Origin Bancorp by 97.9% during the 1st quarter. Jane Street Group LLC now owns 117,954 shares of the company’s stock valued at $4,089,000 after purchasing an additional 58,340 shares during the last quarter. Hedge funds and other institutional investors own 54.68% of the company’s stock.

About Origin Bancorp

Origin Bancorp, Inc (NYSE: OBK) is a bank holding company based in Atlanta, Georgia, and is the parent of Origin Bank, a full-service commercial banking franchise. The company provides a broad range of financial products and services to individuals, small and middle-market businesses, and institutional clients across the southeastern United States.

Through Origin Bank, the company offers a variety of deposit products, including checking and savings accounts, money market accounts, and certificates of deposit.