Origin Bancorp (NASDAQ:OBK) Downgraded by Raymond James to “Outperform”

Raymond James cut shares of Origin Bancorp (NASDAQ:OBK) from a strong-buy rating to an outperform rating in a research note published on Wednesday, Marketbeat Ratings reports. The firm currently has $39.00 price objective on the stock, down from their prior price objective of $44.00.

A number of other brokerages have also weighed in on OBK. DA Davidson boosted their price objective on Origin Bancorp from $41.00 to $44.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Stephens restated an “overweight” rating and set a $45.00 price target on shares of Origin Bancorp in a report on Thursday, March 20th. Piper Sandler raised their price objective on shares of Origin Bancorp from $35.00 to $42.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $45.00 target price (up from $42.00) on shares of Origin Bancorp in a report on Wednesday, January 29th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $43.00.

Origin Bancorp Stock Performance

Shares of Origin Bancorp stock opened at $34.33 on Wednesday. The company’s 50 day moving average price is $37.52 and its two-hundred day moving average price is $34.89. The firm has a market capitalization of $1.07 billion, a P/E ratio of 13.96 and a beta of 0.96. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.97 and a quick ratio of 0.97. Origin Bancorp has a fifty-two week low of $27.69 and a fifty-two week high of $41.17.

Origin Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend was Friday, February 14th. Origin Bancorp’s payout ratio is presently 24.39%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in OBK. Pitcairn Co. increased its position in shares of Origin Bancorp by 4.2% during the fourth quarter. Pitcairn Co. now owns 8,577 shares of the company’s stock worth $286,000 after buying an additional 343 shares during the period. Comerica Bank raised its position in shares of Origin Bancorp by 13.0% in the 4th quarter. Comerica Bank now owns 3,008 shares of the company’s stock worth $100,000 after acquiring an additional 347 shares in the last quarter. Mariner LLC raised its position in shares of Origin Bancorp by 5.4% in the 4th quarter. Mariner LLC now owns 6,965 shares of the company’s stock worth $232,000 after acquiring an additional 356 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Origin Bancorp by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,685 shares of the company’s stock valued at $555,000 after purchasing an additional 636 shares during the period. Finally, LPL Financial LLC boosted its position in shares of Origin Bancorp by 8.0% during the 4th quarter. LPL Financial LLC now owns 9,755 shares of the company’s stock valued at $325,000 after purchasing an additional 726 shares in the last quarter. Institutional investors own 54.68% of the company’s stock.

Origin Bancorp Company Profile

Origin Bancorp, Inc operates as a bank holding company for Origin Bank that provides banking and financial services to small and medium-sized businesses, municipalities, and retail clients in Texas, Louisiana, and Mississippi. It offers noninterest and interest-bearing checking accounts, savings deposits, money market accounts, and time deposits; and offers commercial real estate, construction and land development, consumer, residential real estate, commercial and industrial, mortgage warehouse, and residential mortgage loans.