Origin Bancorp (NYSE:OBK) Sets New 12-Month High – Should You Buy?

Origin Bancorp, Inc. (NYSE:OBK)’s share price hit a new 52-week high on Thursday . The stock traded as high as $55.35 and last traded at $55.0760, with a volume of 166660 shares traded. The stock had previously closed at $55.21.

Analyst Upgrades and Downgrades

OBK has been the topic of a number of research analyst reports. Raymond James Financial restated an “outperform” rating on shares of Origin Bancorp in a research report on Thursday, July 23rd. Piper Sandler raised their price objective on Origin Bancorp from $55.00 to $56.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Weiss Ratings restated a “buy (b)” rating on shares of Origin Bancorp in a report on Friday, July 24th. Stephens upped their target price 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. Finally, DA Davidson upped their target price on shares of Origin Bancorp from $53.00 to $62.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $55.00.

Origin Bancorp Stock 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 50-day moving average price of $50.24 and a 200 day moving average price of $45.69. The firm has a market capitalization of $1.70 billion, a PE ratio of 17.21 and a beta of 0.72.

Origin Bancorp (NYSE:OBK) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.09. Origin Bancorp had a return on equity of 8.03% and a net margin of 16.26%.The firm had revenue of $107.59 million for the quarter. Research analysts expect that Origin Bancorp, Inc. will post 4.13 earnings per share for the current year.

Origin Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 14th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, August 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.8%. Origin Bancorp’s dividend payout ratio is 31.25%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in OBK. Quarry LP purchased a new stake in Origin Bancorp during the 3rd quarter worth approximately $25,000. Kestra Advisory Services LLC acquired a new stake in Origin Bancorp during the 4th quarter worth approximately $27,000. International Assets Investment Management LLC purchased a new position in Origin Bancorp in the 4th quarter valued at approximately $30,000. Tower Research Capital LLC TRC boosted its position in Origin Bancorp by 232.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,620 shares of the company’s stock valued at $94,000 after buying an additional 1,832 shares during the period. Finally, PNC Financial Services Group Inc. grew its stake in shares of Origin Bancorp by 42.7% in the first quarter. PNC Financial Services Group Inc. now owns 2,509 shares of the company’s stock worth $104,000 after acquiring an additional 751 shares in 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.