Origin Bancorp (NASDAQ:OBK) Hits New 52-Week Low - Here's Why

Origin Bancorp, Inc. (NASDAQ:OBK - Get Free Report)'s share price reached a new 52-week low during trading on Monday . The stock traded as low as $19.00 and last traded at $26.26, with a volume of 606 shares. The stock had previously closed at $30.35.

Wall Street Analyst Weigh In

OBK has been the topic of a number of research analyst reports. Stephens restated an "overweight" rating and issued a $45.00 target price on shares of Origin Bancorp in a research note on Thursday, March 20th. Piper Sandler lifted their target price on shares of Origin Bancorp from $35.00 to $42.00 and gave the company a "neutral" rating in a research report on Friday, January 24th. Raymond James downgraded Origin Bancorp from a "strong-buy" rating to an "outperform" rating and lowered their price target for the company from $44.00 to $39.00 in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods restated an "outperform" rating and issued a $45.00 target price (up previously from $42.00) on shares of Origin Bancorp in a research report on Wednesday, January 29th. Finally, DA Davidson boosted their target price on Origin Bancorp from $41.00 to $44.00 and gave the company a "buy" rating in a research note on Monday, January 27th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $43.00.

Origin Bancorp Stock Performance

The business has a fifty day moving average of $36.08 and a 200-day moving average of $34.73. The company has a market cap of $914.61 million, a PE ratio of 11.90 and a beta of 0.78. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.17.

Origin Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a dividend of $0.15 per share. The ex-dividend date was Friday, February 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.05%. Origin Bancorp's dividend payout ratio is presently 24.39%.

Institutional Investors Weigh In On Origin Bancorp

Large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its position in shares of Origin Bancorp by 5.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,150,054 shares of the company's stock worth $38,285,000 after buying an additional 60,272 shares during the period. Royce & Associates LP boosted its holdings in Origin Bancorp by 1.6% in the fourth quarter. Royce & Associates LP now owns 977,088 shares of the company's stock worth $32,527,000 after acquiring an additional 15,196 shares in the last quarter. State Street Corp raised its position in shares of Origin Bancorp by 2.0% in the 3rd quarter. State Street Corp now owns 844,151 shares of the company's stock worth $27,148,000 after purchasing an additional 16,309 shares during the last quarter. Geode Capital Management LLC grew its position in Origin Bancorp by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 673,189 shares of the company's stock valued at $21,654,000 after purchasing an additional 9,435 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of Origin Bancorp by 11.3% in the fourth quarter. American Century Companies Inc. now owns 600,925 shares of the company's stock worth $20,005,000 after buying an additional 61,240 shares in the last quarter. Institutional investors own 54.68% of the company's stock.

About Origin Bancorp

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.