Origin Bancorp (NASDAQ:OBK) Sets New 12-Month Low – Here’s Why

Origin Bancorp, Inc. (NASDAQ:OBK) shares reached a new 52-week low on Monday . The company traded as low as $19.00 and last traded at $26.26, with a volume of 606 shares traded. The stock had previously closed at $30.35.

Wall Street Analysts Forecast Growth

A number of analysts have commented on OBK shares. Piper Sandler increased 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. Stephens reissued an “overweight” rating and set a $45.00 price objective on shares of Origin Bancorp in a research note on Thursday, March 20th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $45.00 target price (up from $42.00) on shares of Origin Bancorp in a research note on Wednesday, January 29th. DA Davidson increased their price target on shares of Origin Bancorp from $41.00 to $44.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Finally, Raymond James cut Origin Bancorp from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the company from $44.00 to $39.00 in a report on Wednesday, April 2nd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $43.00.

Origin Bancorp Trading Up 1.0 %

The stock has a market cap of $957.44 million, a price-to-earnings ratio of 12.46 and a beta of 0.78. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.97 and a current ratio of 0.97. The company has a 50 day moving average of $37.25 and a 200-day moving average of $34.88.

Origin Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a dividend of $0.15 per share. The ex-dividend date was Friday, February 14th. This represents a $0.60 annualized dividend and a dividend yield of 1.96%. Origin Bancorp’s dividend payout ratio is presently 24.39%.

Institutional Investors Weigh In On Origin Bancorp

A number of hedge funds have recently added to or reduced their stakes in the business. Pitcairn Co. increased its holdings in Origin Bancorp by 4.2% during the 4th quarter. Pitcairn Co. now owns 8,577 shares of the company’s stock worth $286,000 after purchasing an additional 343 shares during the period. Comerica Bank raised its holdings in Origin Bancorp by 13.0% in the fourth quarter. Comerica Bank now owns 3,008 shares of the company’s stock valued at $100,000 after acquiring an additional 347 shares in the last quarter. Mariner LLC lifted its stake in Origin Bancorp by 5.4% in the fourth quarter. Mariner LLC now owns 6,965 shares of the company’s stock worth $232,000 after acquiring an additional 356 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position 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 last quarter. Finally, LPL Financial LLC raised its holdings in shares of Origin Bancorp by 8.0% in 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. 54.68% of the stock is currently owned by institutional investors and hedge funds.

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.