Origin Bancorp (NYSE:OBK) Cut to “Hold” at Piper Sandler

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

Several other research firms also recently weighed in on OBK. Weiss Ratings upgraded Origin Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, April 27th. Stephens increased their target price on shares of Origin Bancorp from $49.00 to $54.00 and gave the stock an “overweight” rating in a 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $51.50.

Origin Bancorp Trading Down 0.5%

Shares of NYSE OBK opened at $50.99 on Friday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.02. The business has a fifty day simple moving average of $48.72 and a two-hundred day simple moving average of $44.46. The firm has a market cap of $1.58 billion, a PE ratio of 19.76 and a beta of 0.72. Origin Bancorp has a twelve month low of $32.13 and a twelve month high of $52.90.

Origin Bancorp (NYSE:OBK) last issued its 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 firm had revenue of $104.04 million during the quarter. Analysts expect that Origin Bancorp will post 4.03 earnings per share for the current fiscal year.

Institutional Trading of Origin Bancorp

A number of institutional investors have recently modified their holdings of the company. Quarry LP purchased a new position in shares of Origin Bancorp in the 3rd quarter worth approximately $25,000. Kestra Advisory Services LLC purchased a new stake in Origin Bancorp during the fourth quarter valued at approximately $27,000. International Assets Investment Management LLC purchased a new stake in Origin Bancorp during the fourth quarter valued at approximately $30,000. Tower Research Capital LLC TRC lifted its position in Origin Bancorp by 232.5% during the second quarter. Tower Research Capital LLC TRC now owns 2,620 shares of the company’s stock valued at $94,000 after acquiring an additional 1,832 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in Origin Bancorp by 42.7% in the first quarter. PNC Financial Services Group Inc. now owns 2,509 shares of the company’s stock valued at $104,000 after acquiring an additional 751 shares in the last quarter. 54.68% of the stock is currently owned by institutional investors.

About Origin Bancorp

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.