Origin Bancorp (NYSE:OBK) Sets New 1-Year High – Should You Buy?

Origin Bancorp, Inc. (NYSE:OBK) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $55.35 and last traded at $55.0760, with a volume of 166660 shares trading hands. The stock had previously closed at $55.21.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on OBK. Raymond James Financial restated an “outperform” rating on shares of Origin Bancorp in a research note on Thursday, July 23rd. DA Davidson lifted their price target on shares of Origin Bancorp from $53.00 to $62.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Weiss Ratings reissued a “buy (b)” rating on shares of Origin Bancorp in a report on Friday, July 24th. Stephens increased their price objective on shares of Origin Bancorp from $49.00 to $54.00 and gave the company an “overweight” rating in a research note on Friday, April 24th. Finally, Piper Sandler raised their price objective on shares of Origin Bancorp from $55.00 to $56.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $55.00.

Origin Bancorp Price Performance

The stock has a fifty day moving average of $50.53 and a two-hundred day moving average of $45.85. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of 17.09 and a beta of 0.72.

Origin Bancorp (NYSE:OBK) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. Origin Bancorp had a return on equity of 8.03% and a net margin of 16.26%.The company had revenue of $107.59 million for the quarter. As a group, equities research analysts forecast that Origin Bancorp, Inc. will post 4.13 earnings per share for the current year.

Origin Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 14th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, August 14th. This represents a $1.00 annualized dividend and a yield of 1.8%. Origin Bancorp’s dividend payout ratio is 31.25%.

Institutional Investors Weigh In On Origin Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quarry LP bought a new position in shares of Origin Bancorp in the third quarter worth about $25,000. Kestra Advisory Services LLC acquired a new position in shares of Origin Bancorp during the fourth quarter worth approximately $27,000. International Assets Investment Management LLC bought a new stake in shares of Origin Bancorp during the fourth quarter valued at approximately $30,000. Tower Research Capital LLC TRC grew its stake in shares of 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 purchasing an additional 1,832 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of 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 purchasing an additional 751 shares in the last quarter. Institutional investors and hedge funds own 54.68% of the company’s stock.

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.