Origin Bancorp (NASDAQ:OBK) Sets New 52-Week Low – Here’s What Happened

Origin Bancorp, Inc. (NASDAQ:OBK) hit 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. The stock had previously closed at $30.35.

Wall Street Analysts Forecast Growth

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

Origin Bancorp Stock Performance

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 company has a market cap of $915.76 million, a price-to-earnings ratio of 11.91 and a beta of 0.78. The stock has a 50 day moving average price of $36.70 and a two-hundred day moving average price of $34.79.

Origin Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.05%. The ex-dividend date was Friday, February 14th. Origin Bancorp’s payout ratio is 24.39%.

Hedge Funds Weigh In On Origin Bancorp

Several institutional investors have recently modified their holdings of the stock. Sterling Capital Management LLC increased its position in shares of 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 buying an additional 837 shares in the last quarter. Brooklyn Investment Group bought a new stake in shares of Origin Bancorp in the fourth quarter worth about $48,000. Comerica Bank raised its position in shares of Origin Bancorp by 13.0% during the fourth quarter. Comerica Bank now owns 3,008 shares of the company’s stock worth $100,000 after purchasing an additional 347 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Origin Bancorp by 66,933.3% during the 1st quarter. GAMMA Investing LLC now owns 4,022 shares of the company’s stock valued at $139,000 after purchasing an additional 4,016 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Origin Bancorp in the 4th quarter valued at approximately $183,000. 54.68% of the stock is currently owned by institutional investors and hedge funds.

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.