Origin Bancorp’s (OBK) “Strong-Buy” Rating Reiterated at Raymond James

Raymond James reissued their strong-buy rating on shares of Origin Bancorp (NASDAQ:OBK) in a report issued on Friday morning,Benzinga reports. Raymond James currently has a $44.00 price target on the stock, up from their prior price target of $40.00.

Several other brokerages also recently issued reports on OBK. Keefe, Bruyette & Woods lifted their price objective on Origin Bancorp from $37.00 to $42.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. DA Davidson cut their price objective on Origin Bancorp from $41.00 to $38.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Stephens restated an “overweight” rating and set a $42.00 price objective on shares of Origin Bancorp in a research report on Thursday. Finally, Piper Sandler lifted their target price on shares of Origin Bancorp from $35.00 to $42.00 and gave the stock a “neutral” rating in a research note on Friday. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $41.60.

Origin Bancorp Price Performance

OBK stock opened at $37.73 on Friday. The firm has a 50 day moving average of $34.54 and a 200-day moving average of $33.31. Origin Bancorp has a 12-month low of $27.69 and a 12-month high of $38.76. 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 $1.18 billion, a price-to-earnings ratio of 15.34 and a beta of 1.00.

Origin Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a dividend of $0.15 per share. The ex-dividend date is Friday, February 14th. This represents a $0.60 annualized dividend and a dividend yield of 1.59%. Origin Bancorp’s payout ratio is 24.39%.

Hedge Funds Weigh In On Origin Bancorp

Institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP acquired a new stake in shares of Origin Bancorp in the 3rd quarter valued at about $4,187,000. Tributary Capital Management LLC raised its stake in shares of Origin Bancorp by 31.8% in the 4th quarter. Tributary Capital Management LLC now owns 456,480 shares of the company’s stock valued at $15,196,000 after purchasing an additional 110,056 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Origin Bancorp by 11.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,023,197 shares of the company’s stock valued at $32,454,000 after purchasing an additional 102,159 shares in the last quarter. Royce & Associates LP raised its stake in shares of Origin Bancorp by 7.3% in the 3rd quarter. Royce & Associates LP now owns 961,892 shares of the company’s stock valued at $30,934,000 after purchasing an additional 65,844 shares in the last quarter. Finally, Millennium Management LLC grew its position in shares of Origin Bancorp by 92.3% during the 2nd quarter. Millennium Management LLC now owns 124,521 shares of the company’s stock valued at $3,950,000 after buying an additional 59,763 shares during the last quarter. Institutional investors and hedge funds own 54.68% of the company’s stock.

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.