Origin Bancorp (NYSE:OBK) Reaches New 12-Month High – Still a Buy?

Origin Bancorp, Inc. (NYSE:OBK) hit a new 52-week high on Tuesday . The stock traded as high as $48.15 and last traded at $48.03, with a volume of 2911 shares trading hands. The stock had previously closed at $47.32.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on OBK. Stephens raised their price target on shares of Origin Bancorp from $49.00 to $54.00 and gave the company an “overweight” rating in a research report on Friday, April 24th. Zacks Research raised shares of Origin Bancorp from a “strong sell” rating to a “hold” rating in a research report on Monday, January 26th. Keefe, Bruyette & Woods raised their price target on shares of Origin Bancorp from $43.00 to $48.00 and gave the company an “outperform” rating in a research report on Monday, February 2nd. Weiss Ratings raised shares of Origin Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, April 27th. Finally, DA Davidson set a $49.00 price target on shares of Origin Bancorp in a research report on Friday, January 30th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Origin Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.50.

Origin Bancorp Stock Performance

The company’s 50-day simple moving average is $44.30 and its 200 day simple moving average is $41.28. 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 cap of $1.48 billion, a P/E ratio of 18.53 and a beta of 0.73.

Origin Bancorp (NYSE:OBK) last posted its earnings results 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 return on equity of 6.53% and a net margin of 13.46%.The firm had revenue of $104.04 million for the quarter. As a group, sell-side analysts expect that Origin Bancorp, Inc. will post 4.01 EPS for the current fiscal year.

Origin Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 15th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $1.00 annualized dividend and a dividend yield of 2.1%. This is an increase from Origin Bancorp’s previous quarterly dividend of $0.15. Origin Bancorp’s payout ratio is 38.76%.

Hedge Funds Weigh In On Origin Bancorp

Hedge funds have recently modified their holdings of the company. Kestra Advisory Services LLC bought a new position in shares of Origin Bancorp during the 4th quarter worth approximately $27,000. Quarry LP purchased a new stake in shares of Origin Bancorp during the 3rd quarter worth approximately $25,000. International Assets Investment Management LLC purchased a new stake in shares of Origin Bancorp during the 4th quarter worth approximately $30,000. PNC Financial Services Group Inc. increased its stake 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. Finally, 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 during the last quarter. 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.