Origin Bancorp (NASDAQ:OBK) Hits New 12-Month Low – What’s Next?

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Stephens restated an “overweight” rating and issued a $45.00 price target on shares of Origin Bancorp in a report on Thursday, March 20th. DA Davidson lifted their price target on shares of Origin Bancorp from $41.00 to $44.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $45.00 price objective (up previously from $42.00) on shares of Origin Bancorp in a research report on Wednesday, January 29th. Piper Sandler lifted their price objective on shares of Origin Bancorp from $35.00 to $42.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. Finally, Raymond James downgraded Origin Bancorp from a “strong-buy” rating to an “outperform” rating and dropped their price target for the company from $44.00 to $39.00 in a research note on Wednesday, April 2nd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Origin Bancorp has a consensus rating of “Moderate Buy” and an average target price of $43.00.

Origin Bancorp Stock Up 1.0 %

The business has a 50 day moving average price of $37.25 and a 200 day moving average price of $34.88. 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 stock has a market cap of $957.44 million, a PE ratio of 12.46 and a beta of 0.78.

Origin Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors 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 1.96%. The ex-dividend date was Friday, February 14th. Origin Bancorp’s dividend payout ratio (DPR) is presently 24.39%.

Institutional Investors Weigh In On Origin Bancorp

Hedge funds have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in Origin Bancorp in the 3rd quarter worth about $30,000. Sterling Capital Management LLC grew its stake in Origin Bancorp by 812.6% in 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 position in Origin Bancorp in the 4th quarter valued at about $48,000. Comerica Bank lifted its position in shares of 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. Finally, KLP Kapitalforvaltning AS purchased a new position in Origin Bancorp in the 4th quarter valued at $183,000. 54.68% of the stock is 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.