Origin Bancorp (NYSE:OBK) Reaches New 1-Year High – Time to Buy?

Shares of Origin Bancorp, Inc. (NYSE:OBK) reached a new 52-week high on Thursday . The company traded as high as $53.04 and last traded at $53.0080, with a volume of 58211 shares. The stock had previously closed at $51.52.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Weiss Ratings raised Origin Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, April 27th. Piper Sandler restated a “neutral” rating and issued a $55.00 price target (up from $51.00) on shares of Origin Bancorp in a research note on Sunday. Finally, Stephens boosted their price target on Origin Bancorp from $49.00 to $54.00 and gave the stock an “overweight” rating in a research note on Friday, April 24th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $51.50.

Origin Bancorp Trading Up 3.1%

The firm’s 50 day simple moving average is $48.88 and its 200-day simple moving average is $44.64. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $1.64 billion, a PE ratio of 20.59 and a beta of 0.72.

Origin Bancorp (NYSE:OBK) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $0.89 EPS 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 company had revenue of $104.04 million during the quarter. As a group, equities research analysts anticipate that Origin Bancorp, Inc. will post 3.97 EPS for the current year.

Origin Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were paid a dividend of $0.25 per share. This is an increase from Origin Bancorp’s previous quarterly dividend of $0.15. The ex-dividend date was Friday, May 15th. This represents a $1.00 annualized dividend and a dividend yield of 1.9%. Origin Bancorp’s dividend payout ratio (DPR) is currently 38.76%.

Institutional Trading of Origin Bancorp

Several institutional investors have recently added to or reduced their stakes in OBK. Revolve Wealth Partners LLC bought a new stake in shares of Origin Bancorp during the 2nd quarter valued at about $219,000. Summit Financial Wealth Advisors LLC increased its position in Origin Bancorp by 5.3% in the first quarter. Summit Financial Wealth Advisors LLC now owns 13,917 shares of the company’s stock worth $577,000 after buying an additional 700 shares during the period. Bank of America Corp DE lifted its stake in Origin Bancorp by 71.2% in the first quarter. Bank of America Corp DE now owns 74,524 shares of the company’s stock valued at $3,090,000 after buying an additional 31,005 shares during the last quarter. Royal Bank of Canada grew its position in shares of Origin Bancorp by 2.6% during the first quarter. Royal Bank of Canada now owns 18,167 shares of the company’s stock worth $753,000 after acquiring an additional 457 shares during the last quarter. Finally, Empowered Funds LLC increased its holdings in shares of Origin Bancorp by 4.9% in the 1st quarter. Empowered Funds LLC now owns 138,469 shares of the company’s stock worth $5,741,000 after acquiring an additional 6,506 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.