Piper Sandler Reaffirms “Neutral” Rating for Origin Bancorp (NASDAQ:OBK)

Piper Sandler restated their neutral rating on shares of Origin Bancorp (NASDAQ:OBK) in a research note published on Friday morning, Benzinga reports. They currently have a $32.00 price objective on the stock, up from their prior price objective of $30.00.

Several other brokerages also recently weighed in on OBK. Raymond James increased their price target on shares of Origin Bancorp from $33.00 to $34.00 and gave the stock an outperform rating in a report on Friday, January 26th. TheStreet lowered shares of Origin Bancorp from a b- rating to a c+ rating in a research note on Wednesday, March 13th. Finally, DA Davidson restated a buy rating on shares of Origin Bancorp in a research report on Monday, January 15th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $33.33.

Origin Bancorp Stock Performance

Shares of OBK opened at $30.97 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a 50-day moving average of $29.78 and a two-hundred day moving average of $31.34. The stock has a market cap of $960.38 million, a P/E ratio of 11.34 and a beta of 0.96. Origin Bancorp has a one year low of $25.59 and a one year high of $36.91.

Origin Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Wednesday, May 15th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend is Tuesday, May 14th. Origin Bancorp’s dividend payout ratio (DPR) is presently 22.64%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Community Bank & Trust Waco Texas purchased a new position in Origin Bancorp during the first quarter worth approximately $207,000. Tributary Capital Management LLC grew its stake in Origin Bancorp by 6.1% in the 1st quarter. Tributary Capital Management LLC now owns 333,220 shares of the company’s stock valued at $10,410,000 after acquiring an additional 19,042 shares during the period. PNC Financial Services Group Inc. purchased a new stake in Origin Bancorp in the 4th quarter worth $237,000. Fisher Asset Management LLC acquired a new position in Origin Bancorp during the fourth quarter worth $1,552,000. Finally, Greenwood Capital Associates LLC acquired a new position in Origin Bancorp during the fourth quarter worth $551,000. Hedge funds and other institutional investors own 54.68% of the company’s stock.

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.