Origin Bancorp (NYSE:OBK) Hits New 52-Week High – Here’s What Happened

Origin Bancorp, Inc. (NYSE:OBK)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $50.35 and last traded at $50.35, with a volume of 48281 shares. The stock had previously closed at $49.54.

Analysts Set New Price Targets

OBK has been the subject of a number of recent analyst reports. Weiss Ratings upgraded 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 Origin Bancorp from $49.00 to $54.00 and gave the company an “overweight” rating in a research report on Friday, April 24th. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $48.50.

Origin Bancorp Stock Performance

The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a 50 day moving average of $47.11 and a 200 day moving average of $43.12. The stock has a market capitalization of $1.56 billion, a P/E ratio of 19.51 and a beta of 0.73.

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

Origin Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, May 15th. This is an increase from Origin Bancorp’s previous quarterly dividend of $0.15. This represents a $1.00 dividend on an annualized basis and a yield of 2.0%. Origin Bancorp’s dividend payout ratio is presently 38.76%.

Institutional Trading of Origin Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC grew its position in Origin Bancorp by 438.9% in the third quarter. Millennium Management LLC now owns 301,217 shares of the company’s stock worth $10,398,000 after buying an additional 245,320 shares during the last quarter. Algebris UK Ltd. acquired a new stake in shares of Origin Bancorp during the 4th quarter valued at $6,925,000. Nuveen LLC boosted its stake in shares of Origin Bancorp by 139.2% during the 4th quarter. Nuveen LLC now owns 275,721 shares of the company’s stock worth $10,370,000 after acquiring an additional 160,469 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Origin Bancorp by 219.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 179,657 shares of the company’s stock worth $6,202,000 after acquiring an additional 123,333 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Origin Bancorp by 17.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 797,576 shares of the company’s stock worth $29,997,000 after acquiring an additional 116,410 shares during the last quarter. 54.68% of the stock is owned by institutional investors and hedge funds.

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.