Piper Sandler Downgrades Origin Bancorp (NYSE:OBK) to Hold

Origin Bancorp (NYSE:OBK) was downgraded by equities researchers at Piper Sandler from a “strong-buy” rating to a “hold” rating in a research report issued on Sunday,Zacks.com reports.

Other equities analysts also recently issued research reports about the company. Weiss Ratings upgraded Origin Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, April 27th. Stephens boosted their price target on Origin Bancorp from $49.00 to $54.00 and gave the stock an “overweight” rating in a research report on Friday, April 24th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Origin Bancorp currently has a consensus rating of “Moderate Buy” and an average price target of $51.50.

Origin Bancorp Stock Down 0.5%

Shares of NYSE OBK opened at $50.99 on Friday. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of 19.76 and a beta of 0.72. The company’s 50-day simple moving average is $48.72 and its 200-day simple moving average is $44.46. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.02. Origin Bancorp has a 52-week low of $32.13 and a 52-week high of $52.90.

Origin Bancorp (NYSE:OBK) last released its quarterly earnings results on Wednesday, April 22nd. The company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.01). Origin Bancorp had a return on equity of 6.53% and a net margin of 13.46%.The company had revenue of $104.04 million for the quarter. Equities analysts predict that Origin Bancorp will post 4.03 EPS for the current fiscal year.

Institutional Trading of Origin Bancorp

A number of hedge funds have recently bought and sold shares of the business. Tudor Investment Corp ET AL acquired a new position in shares of Origin Bancorp during the 3rd quarter worth approximately $2,964,000. JPMorgan Chase & Co. increased its holdings in shares of Origin Bancorp by 15.5% in the third quarter. JPMorgan Chase & Co. now owns 185,941 shares of the company’s stock valued at $6,419,000 after purchasing an additional 24,949 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Origin Bancorp by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 1,753,530 shares of the company’s stock valued at $65,950,000 after purchasing an additional 37,050 shares during the last quarter. Endeavour Capital Advisors Inc. lifted its position in Origin Bancorp by 44.3% during the fourth quarter. Endeavour Capital Advisors Inc. now owns 276,308 shares of the company’s stock worth $10,392,000 after buying an additional 84,812 shares in the last quarter. Finally, Deprince Race & Zollo Inc. lifted its position in Origin Bancorp by 83.9% during the first quarter. Deprince Race & Zollo Inc. now owns 108,259 shares of the company’s stock worth $4,488,000 after buying an additional 49,399 shares in the last quarter. Institutional investors and hedge funds own 54.68% of the company’s stock.

Origin Bancorp Company Profile

Origin Bancorp, Inc (NYSE: OBK) is a bank holding company based in Atlanta, Georgia, and is the parent of Origin Bank, a full-service commercial banking franchise. The company provides a broad range of financial products and services to individuals, small and middle-market businesses, and institutional clients across the southeastern United States.

Through Origin Bank, the company offers a variety of deposit products, including checking and savings accounts, money market accounts, and certificates of deposit.