Origin Bancorp (NASDAQ:OBK) Cut to “Outperform” at Raymond James

Origin Bancorp (NASDAQ:OBK) was downgraded by equities research analysts at Raymond James from a “strong-buy” rating to an “outperform” rating in a note issued to investors on Wednesday,Finviz reports. They presently have a $39.00 price target on the stock. Raymond James’ price target points to a potential upside of 13.68% from the company’s previous close.

A number of other brokerages have also issued reports on OBK. DA Davidson raised their target price on shares of Origin Bancorp from $41.00 to $44.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Piper Sandler upped their target price 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. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $45.00 target price (up previously from $42.00) on shares of Origin Bancorp in a research note on Wednesday, January 29th. Finally, Stephens restated an “overweight” rating and issued a $45.00 price target on shares of Origin Bancorp in a research report on Thursday, March 20th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $43.00.

Origin Bancorp Stock Down 1.0 %

Shares of NASDAQ OBK opened at $34.31 on Wednesday. The business has a 50-day moving average price of $37.54 and a 200 day moving average price of $34.90. The stock has a market cap of $1.07 billion, a PE ratio of 13.95 and a beta of 0.96. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.17. Origin Bancorp has a 52-week low of $27.69 and a 52-week high of $41.17.

Institutional Investors Weigh In On Origin Bancorp

Several institutional investors have recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Origin Bancorp in the third quarter valued at about $30,000. Sterling Capital Management LLC lifted its position in shares of Origin Bancorp by 812.6% during the 4th quarter. Sterling Capital Management LLC now owns 940 shares of the company’s stock valued at $31,000 after acquiring an additional 837 shares during the period. Brooklyn Investment Group purchased a new stake in shares of Origin Bancorp during the 4th quarter worth approximately $48,000. Quantbot Technologies LP grew its holdings in shares of Origin Bancorp by 78.1% in the 3rd quarter. Quantbot Technologies LP now owns 2,706 shares of the company’s stock worth $87,000 after acquiring an additional 1,187 shares during the period. Finally, Comerica Bank increased its stake in Origin Bancorp by 13.0% in the 4th quarter. Comerica Bank now owns 3,008 shares of the company’s stock valued at $100,000 after purchasing an additional 347 shares in the last quarter. 54.68% of the stock is currently owned by hedge funds and other institutional investors.

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.