Origin Bancorp (NYSE:OBK) Sets New 1-Year High – Here’s Why

Origin Bancorp, Inc. (NYSE:OBKGet Free Report)’s stock price reached a new 52-week high during mid-day trading on Thursday . The stock 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.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Weiss Ratings upgraded shares of Origin Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, April 27th. Stephens increased their price target on shares of Origin Bancorp from $49.00 to $54.00 and gave the company an “overweight” rating in a report on Friday, April 24th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $55.00 price objective (up from $51.00) on shares of Origin Bancorp in a research note on Sunday, July 12th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $51.50.

View Our Latest Report on OBK

Origin Bancorp Trading Down 1.9%

The firm has a market cap of $1.61 billion, a price-to-earnings ratio of 20.23 and a beta of 0.72. The business has a fifty day moving average of $49.12 and a two-hundred day moving average of $44.80. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.97 and a current ratio of 0.97.

Origin Bancorp (NYSE:OBKGet Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.01). The firm had revenue of $104.04 million for the quarter. Origin Bancorp had a return on equity of 6.53% and a net margin of 13.46%. As a group, equities analysts expect that Origin Bancorp, Inc. will post 3.97 earnings per share for the current fiscal year.

Origin Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were given a $0.25 dividend. 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 dividend yield of 1.9%. The ex-dividend date was Friday, May 15th. Origin Bancorp’s dividend payout ratio (DPR) is 38.76%.

Institutional Investors Weigh In On Origin Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in OBK. Quarry LP acquired a new position in Origin Bancorp during the third quarter worth about $25,000. Kestra Advisory Services LLC acquired a new stake in shares of Origin Bancorp in the fourth quarter valued at approximately $27,000. International Assets Investment Management LLC purchased a new position in shares of Origin Bancorp during the 4th quarter worth approximately $30,000. Tower Research Capital LLC TRC increased its stake in shares of Origin Bancorp by 232.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,620 shares of the company’s stock worth $94,000 after purchasing an additional 1,832 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Origin Bancorp by 42.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,509 shares of the company’s stock worth $104,000 after purchasing an additional 751 shares during the last quarter. 54.68% of the stock is currently owned by hedge funds and other institutional investors.

About Origin Bancorp

(Get Free Report)

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.

Further Reading

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