Origin Bancorp (NYSE:OBK) Downgraded to "Hold" Rating by Piper Sandler

Key Points

• Piper Sandler downgraded Origin Bancorp from “strong-buy” to “hold”, signaling a more cautious stance on the stock.
• Despite the downgrade, analyst sentiment remains mixed-to-positive overall: four analysts rate OBK a Buy and two rate it Hold, with a Moderate Buy consensus and an average price target of $51.50.
• Origin Bancorp recently reported quarterly EPS of $0.89, narrowly missing estimates by one cent, while shares opened at $50.99 and are trading near their 52-week high of $52.90.

Origin Bancorp (NYSE:OBK - Get Free Report) was downgraded by Piper Sandler from a "strong-buy" rating to a "hold" rating in a research report issued on Sunday,Zacks.com reports.

OBK has been the subject of a number of other reports. Stephens raised their target price on shares of Origin Bancorp from $49.00 to $54.00 and gave the company an "overweight" rating in a report on Friday, April 24th. Weiss Ratings raised shares of Origin Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, April 27th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $51.50.

Origin Bancorp Price Performance

NYSE:OBK opened at $50.99 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $1.58 billion, a P/E ratio of 19.76 and a beta of 0.72. Origin Bancorp has a 12 month low of $32.13 and a 12 month high of $52.90. The business's 50-day moving average is $48.72 and its 200 day moving average is $44.46.

Origin Bancorp (NYSE:OBK - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The company reported $0.89 EPS for the quarter, missing analysts' consensus estimates of $0.90 by ($0.01). Origin Bancorp had a net margin of 13.46% and a return on equity of 6.53%. The firm had revenue of $104.04 million for the quarter. On average, equities research analysts forecast that Origin Bancorp will post 4.03 earnings per share for the current fiscal year.

Institutional Trading of Origin Bancorp

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Origin Bancorp by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 1,753,530 shares of the company's stock worth $65,950,000 after buying an additional 37,050 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Origin Bancorp by 3.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,425,220 shares of the company's stock valued at $59,089,000 after buying an additional 49,001 shares in the last quarter. State Street Corp boosted its position in Origin Bancorp by 1.2% in the 4th quarter. State Street Corp now owns 923,148 shares of the company's stock valued at $34,720,000 after buying an additional 10,741 shares during the period. Goldman Sachs Group Inc. boosted its position in Origin Bancorp by 17.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 797,576 shares of the company's stock valued at $29,997,000 after buying an additional 116,410 shares during the period. Finally, Kennedy Capital Management LLC boosted its position in Origin Bancorp by 13.5% in the 4th quarter. Kennedy Capital Management LLC now owns 706,235 shares of the company's stock valued at $26,561,000 after buying an additional 83,971 shares during the period. 54.68% of the stock is owned by hedge funds and other institutional investors.

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.

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