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

Origin Bancorp, Inc. (NYSE:OBK)’s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $41.27 and last traded at $41.4640, with a volume of 69704 shares trading hands. The stock had previously closed at $39.70.

Analysts Set New Price Targets

OBK has been the topic of a number of research reports. Piper Sandler boosted their target price on shares of Origin Bancorp from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. Weiss Ratings reiterated a “hold (c)” rating on shares of Origin Bancorp in a research report on Wednesday, October 8th. Wall Street Zen raised Origin Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. DA Davidson assumed coverage on Origin Bancorp in a research report on Tuesday, November 25th. They set a “buy” rating and a $42.00 price objective on the stock. Finally, Zacks Research cut Origin Bancorp from a “hold” rating to a “strong sell” rating in a report on Monday, January 12th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Origin Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $42.80.

Origin Bancorp Trading Down 3.1%

The firm has a 50 day moving average of $38.02. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a market capitalization of $1.27 billion, a PE ratio of 21.40 and a beta of 0.74.

Origin Bancorp (NYSE:OBK) last released its earnings results on Wednesday, October 22nd. The company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.62). Origin Bancorp had a return on equity of 5.05% and a net margin of 10.23%.The business had revenue of $99.62 million during the quarter, compared to analysts’ expectations of $103.95 million.

Insider Transactions at Origin Bancorp

In related news, insider Preston Moore bought 6,500 shares of the company’s stock in a transaction on Monday, October 27th. The shares were acquired at an average cost of $34.27 per share, for a total transaction of $222,755.00. Following the purchase, the insider directly owned 54,882 shares of the company’s stock, valued at approximately $1,880,806.14. The trade was a 13.43% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jim Crotwell bought 3,000 shares of Origin Bancorp stock in a transaction dated Monday, October 27th. The shares were bought at an average cost of $34.32 per share, for a total transaction of $102,960.00. Following the completion of the transaction, the insider owned 24,475 shares of the company’s stock, valued at approximately $839,982. This trade represents a 13.97% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders purchased 25,918 shares of company stock valued at $893,280. Company insiders own 6.39% of the company’s stock.

Institutional Trading of Origin Bancorp

A number of large investors have recently modified their holdings of OBK. The Manufacturers Life Insurance Company grew its stake in Origin Bancorp by 2.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,402 shares of the company’s stock valued at $550,000 after purchasing an additional 300 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in Origin Bancorp by 2.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 13,724 shares of the company’s stock worth $474,000 after buying an additional 375 shares during the period. Harbor Capital Advisors Inc. raised its position in Origin Bancorp by 4.3% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 11,162 shares of the company’s stock worth $385,000 after buying an additional 460 shares during the last quarter. Mackenzie Financial Corp lifted its stake in Origin Bancorp by 2.8% during the 3rd quarter. Mackenzie Financial Corp now owns 18,511 shares of the company’s stock valued at $639,000 after acquiring an additional 510 shares during the period. Finally, Swiss National Bank boosted its holdings in shares of Origin Bancorp by 1.2% in the 3rd quarter. Swiss National Bank now owns 57,382 shares of the company’s stock valued at $1,981,000 after acquiring an additional 700 shares during the last quarter. Hedge funds and other institutional investors 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.