Origin Bancorp (NASDAQ:OBK) Price Target Raised to $42.00

Origin Bancorp (NASDAQ:OBK) had its target price lifted by Piper Sandler from $35.00 to $42.00 in a report issued on Friday morning,Benzinga reports. They currently have a neutral rating on the stock.

OBK has been the topic of a number of other research reports. Raymond James upgraded shares of Origin Bancorp from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, December 19th. Stephens restated an “overweight” rating and set a $42.00 target price on shares of Origin Bancorp in a research report on Thursday. Keefe, Bruyette & Woods increased their price target on shares of Origin Bancorp from $37.00 to $42.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Finally, DA Davidson reduced their price target on shares of Origin Bancorp from $41.00 to $38.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $41.60.

Origin Bancorp Stock Up 1.8 %

Shares of OBK stock opened at $37.73 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.97 and a current ratio of 0.97. The firm’s 50-day moving average is $34.54 and its 200-day moving average is $33.31. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of 15.34 and a beta of 1.00. Origin Bancorp has a 52-week low of $27.69 and a 52-week high of $38.76.

Origin Bancorp Announces Dividend

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

Institutional Investors Weigh In On Origin Bancorp

Several large investors have recently modified their holdings of the company. Tributary Capital Management LLC lifted its position in shares of Origin Bancorp by 31.8% during the fourth 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. Janney Montgomery Scott LLC bought a new stake in shares of Origin Bancorp in the fourth quarter valued at approximately $219,000. Brooklyn Investment Group bought a new stake in shares of Origin Bancorp in the fourth quarter valued at approximately $48,000. JPMorgan Chase & Co. raised its position in shares of Origin Bancorp by 80.8% in the third quarter. JPMorgan Chase & Co. now owns 72,986 shares of the company’s stock valued at $2,347,000 after purchasing an additional 32,619 shares during the period. Finally, Franklin Resources Inc. grew its stake in Origin Bancorp by 27.6% during the third quarter. Franklin Resources Inc. now owns 71,321 shares of the company’s stock valued at $2,302,000 after acquiring an additional 15,405 shares in the last quarter. 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.