Piper Sandler Forecasts Strong Price Appreciation for Origin Bancorp (NASDAQ:OBK) Stock

Origin Bancorp (NASDAQ:OBK) had its price objective hoisted by analysts at Piper Sandler from $35.00 to $42.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Piper Sandler’s price objective would suggest a potential upside of 9.01% from the company’s current price.

A number of other research firms have also recently weighed in on OBK. Raymond James raised Origin Bancorp from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, December 19th. Stephens reissued an “overweight” rating and issued a $42.00 price target on shares of Origin Bancorp in a research note on Thursday. DA Davidson lowered their price target on Origin Bancorp from $41.00 to $38.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Origin Bancorp from $37.00 to $42.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $39.60.

Origin Bancorp Stock Performance

NASDAQ OBK traded up $1.47 during trading hours on Friday, hitting $38.53. The company had a trading volume of 139,590 shares, compared to its average volume of 144,187. Origin Bancorp has a fifty-two week low of $27.69 and a fifty-two week high of $38.76. The firm has a market cap of $1.20 billion, a P/E ratio of 15.65 and a beta of 1.00. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.17. The business has a fifty day simple moving average of $34.44 and a 200-day simple moving average of $33.22.

Origin Bancorp (NASDAQ:OBK) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.06). Origin Bancorp had a net margin of 12.34% and a return on equity of 6.91%. The firm had revenue of $160.25 million during the quarter, compared to the consensus estimate of $93.40 million. During the same quarter in the prior year, the business earned $0.71 earnings per share. Equities analysts predict that Origin Bancorp will post 2.43 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in Origin Bancorp by 11.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,023,197 shares of the company’s stock worth $32,454,000 after acquiring an additional 102,159 shares in the last quarter. Royce & Associates LP raised its holdings in shares of Origin Bancorp by 7.3% in the 3rd quarter. Royce & Associates LP now owns 961,892 shares of the company’s stock worth $30,934,000 after purchasing an additional 65,844 shares in the last quarter. State Street Corp lifted its stake in Origin Bancorp by 2.0% during the third quarter. State Street Corp now owns 844,151 shares of the company’s stock valued at $27,148,000 after purchasing an additional 16,309 shares during the last quarter. Geode Capital Management LLC lifted its stake in Origin Bancorp by 1.4% during the third quarter. Geode Capital Management LLC now owns 673,189 shares of the company’s stock valued at $21,654,000 after purchasing an additional 9,435 shares during the last quarter. Finally, Tributary Capital Management LLC boosted its holdings in Origin Bancorp by 31.8% during the fourth quarter. Tributary Capital Management LLC now owns 456,480 shares of the company’s stock worth $15,196,000 after buying an additional 110,056 shares in the last quarter. Institutional investors own 54.68% of the company’s stock.

About Origin Bancorp

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.