Origin Bancorp (NYSE:OBK) Reaches New 52-Week High – What’s Next?

Origin Bancorp, Inc. (NYSE:OBK)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $49.70 and last traded at $49.2270, with a volume of 136233 shares changing hands. The stock had previously closed at $48.81.

Wall Street Analysts Forecast Growth

OBK has been the subject of a number of recent analyst reports. Weiss Ratings raised Origin Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, April 27th. Stephens upped their target price on shares of Origin Bancorp from $49.00 to $54.00 and gave the stock an “overweight” rating in a research report on Friday, April 24th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $48.50.

Origin Bancorp Stock Up 0.9%

The business has a 50-day moving average of $46.02 and a 200 day moving average of $42.38. The company has a market capitalization of $1.52 billion, a PE ratio of 19.08 and a beta of 0.73. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.97 and a quick ratio of 0.97.

Origin Bancorp (NYSE:OBK) last released its quarterly 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). The firm had revenue of $104.04 million for the quarter. Origin Bancorp had a net margin of 13.46% and a return on equity of 6.53%. Equities research analysts predict that Origin Bancorp, Inc. will post 4.01 earnings per share for the current year.

Origin Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were given a $0.25 dividend. This is a boost from Origin Bancorp’s previous quarterly dividend of $0.15. This represents a $1.00 annualized dividend and a yield of 2.0%. The ex-dividend date was Friday, May 15th. Origin Bancorp’s dividend payout ratio (DPR) is presently 38.76%.

Hedge Funds Weigh In On Origin Bancorp

Several institutional investors have recently bought and sold shares of OBK. Quarry LP bought a new position in shares of Origin Bancorp in the 3rd quarter valued at about $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 stake in shares of Origin Bancorp by 232.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,620 shares of the company’s stock valued at $94,000 after purchasing an additional 1,832 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Origin Bancorp by 42.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,509 shares of the company’s stock worth $104,000 after purchasing an additional 751 shares during the period. Institutional investors own 54.68% of the company’s stock.

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.