Origin Bancorp (NYSE:OBK) Sets New 1-Year High – What’s Next?

Origin Bancorp, Inc. (NYSE:OBK) shares reached a new 52-week high during mid-day trading on Friday . The company traded as high as $48.67 and last traded at $48.2290, with a volume of 14970 shares. The stock had previously closed at $48.10.

Wall Street Analyst Weigh In

A number of research firms have issued reports on OBK. Weiss Ratings upgraded Origin Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, April 27th. Stephens increased their price objective on Origin Bancorp from $49.00 to $54.00 and gave the stock an “overweight” rating in a report on Friday, April 24th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $48.50.

Origin Bancorp Price Performance

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 firm has a fifty day moving average price of $45.39 and a two-hundred day moving average price of $41.97. The stock has a market capitalization of $1.50 billion, a P/E ratio of 18.85 and a beta of 0.73.

Origin Bancorp (NYSE:OBK) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $0.89 earnings per share 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 for the quarter. On average, analysts expect that Origin Bancorp, Inc. will post 4.01 EPS for the current year.

Origin Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.1%. This is a boost from Origin Bancorp’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Friday, May 15th. Origin Bancorp’s payout ratio is 38.76%.

Institutional Investors Weigh In On Origin Bancorp

Several institutional investors have recently modified their holdings of the business. Summit Financial Wealth Advisors LLC boosted its position in shares of Origin Bancorp by 5.3% during the first quarter. Summit Financial Wealth Advisors LLC now owns 13,917 shares of the company’s stock valued at $577,000 after buying an additional 700 shares during the last quarter. Bank of America Corp DE boosted its position 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 worth $3,090,000 after purchasing an additional 31,005 shares during the last quarter. Royal Bank of Canada boosted its position in Origin Bancorp by 2.6% in the first quarter. Royal Bank of Canada now owns 18,167 shares of the company’s stock worth $753,000 after purchasing an additional 457 shares during the last quarter. Empowered Funds LLC boosted its position in Origin Bancorp by 4.9% in the first quarter. Empowered Funds LLC now owns 138,469 shares of the company’s stock worth $5,741,000 after purchasing an additional 6,506 shares during the last quarter. Finally, Quantinno Capital Management LP purchased a new position in Origin Bancorp in the first quarter worth about $280,000. 54.68% of the stock is owned by hedge funds and other institutional investors.

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.