Origin Bancorp (NASDAQ:OBK) Stock Rating Lowered by Raymond James

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

Other research analysts have also issued research reports about the company. Piper Sandler increased their price target on Origin Bancorp from $35.00 to $42.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. DA Davidson lifted their price target on shares of Origin Bancorp from $41.00 to $44.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $45.00 price objective (up previously from $42.00) on shares of Origin Bancorp in a report on Wednesday, January 29th. Finally, Stephens reiterated an “overweight” rating and set a $45.00 price objective on shares of Origin Bancorp in a report on Thursday, March 20th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $43.00.

Origin Bancorp Price Performance

Shares of NASDAQ OBK opened at $34.33 on Wednesday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.17. The firm’s 50-day moving average price is $37.52 and its 200-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. Origin Bancorp has a 1-year low of $27.69 and a 1-year high of $41.17.

Origin Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend was Friday, February 14th. Origin Bancorp’s dividend payout ratio is 24.39%.

Institutional Trading of Origin Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in the company. Mackenzie Financial Corp bought a new stake in Origin Bancorp in the 4th quarter worth about $518,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Origin Bancorp by 3.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 47,943 shares of the company’s stock valued at $1,596,000 after acquiring an additional 1,586 shares in the last quarter. Squarepoint Ops LLC increased its position in shares of Origin Bancorp by 42.2% during the fourth quarter. Squarepoint Ops LLC now owns 9,247 shares of the company’s stock valued at $308,000 after acquiring an additional 2,745 shares during the last quarter. Two Sigma Advisers LP lifted its holdings in Origin Bancorp by 43.7% during the fourth quarter. Two Sigma Advisers LP now owns 48,000 shares of the company’s stock worth $1,598,000 after acquiring an additional 14,600 shares during the period. Finally, Two Sigma Investments LP boosted its position in Origin Bancorp by 19.9% in the fourth quarter. Two Sigma Investments LP now owns 74,927 shares of the company’s stock worth $2,494,000 after purchasing an additional 12,411 shares during the last quarter. Hedge funds and other 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.