Origin Bancorp (NYSE:OBK) Reaches New 52-Week High – Time to Buy?

Origin Bancorp, Inc. (NYSE:OBK)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as $53.28 and last traded at $53.4120, with a volume of 4619 shares. The stock had previously closed at $52.54.

Wall Street Analysts Forecast Growth

OBK has been the topic of several recent analyst reports. Stephens raised their price target on 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 Origin Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, April 27th. Raymond James Financial restated an “outperform” rating on shares of Origin Bancorp in a research report on Thursday. Finally, Piper Sandler restated a “neutral” rating and issued a $56.00 price objective on shares of Origin Bancorp in a research report on Friday. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $51.75.

Origin Bancorp Price Performance

The firm has a market capitalization of $1.65 billion, a P/E ratio of 16.64 and a beta of 0.72. The business’s 50-day simple moving average is $49.58 and its 200 day simple moving average is $45.24. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.02.

Origin Bancorp (NYSE:OBK) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. Origin Bancorp had a net margin of 16.26% and a return on equity of 8.03%. The firm had revenue of $107.59 million during the quarter. Sell-side analysts forecast that Origin Bancorp, Inc. will post 3.97 earnings per share for the current year.

Origin Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 14th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.9%. The ex-dividend date is Friday, August 14th. Origin Bancorp’s dividend payout ratio is presently 38.76%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of OBK. Tudor Investment Corp ET AL bought a new stake in shares of Origin Bancorp in the 3rd quarter valued at about $2,964,000. JPMorgan Chase & Co. boosted its holdings in Origin Bancorp by 15.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 185,941 shares of the company’s stock valued at $6,419,000 after acquiring an additional 24,949 shares during the period. Vanguard Group Inc. grew its position in Origin Bancorp by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 1,753,530 shares of the company’s stock worth $65,950,000 after acquiring an additional 37,050 shares during the last quarter. Endeavour Capital Advisors Inc. grew its position in Origin Bancorp by 44.3% during the 4th quarter. Endeavour Capital Advisors Inc. now owns 276,308 shares of the company’s stock worth $10,392,000 after acquiring an additional 84,812 shares during the last quarter. Finally, Algebris UK Ltd. purchased a new position in Origin Bancorp in the 4th quarter worth approximately $6,925,000. 54.68% of the stock is owned by 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.