Origin Bancorp (TXSE:OBK) Reaches New 52-Week High – Should You Buy?

Origin Bancorp, Inc. (TXSE:OBK) shares reached a new 52-week high on Wednesday. The company traded as high as $55.64 and last traded at $55.0830, with a volume of 3,572 shares. The stock had previously closed at $53.62.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Piper Sandler boosted their price target on Origin Bancorp from $55.00 to $56.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Raymond James Financial raised their price objective on shares of Origin Bancorp from $56.00 to $58.00 and gave the company an “outperform” rating in a research report on Friday, October 2nd. DA Davidson raised their price objective 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. Benchmark upgraded shares of Origin Bancorp to a “hold” rating in a research note on Thursday, September 24th. Finally, Weiss Ratings raised shares of Origin Bancorp from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, October 8th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $58.00.

Origin Bancorp Price Performance

The company has a debt-to-equity ratio of 0.12, a current ratio of 0.98 and a quick ratio of 0.98. The stock’s 50 day moving average price is $53.00 and its two-hundred day moving average price is $48.50. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of 16.88 and a beta of 0.74.

Origin Bancorp (TXSE:OBK) last posted its earnings results on Wednesday, October 28th. The company reported $1.22 earnings per share (EPS) for the quarter. The business had revenue of $113.22 million for the quarter. Origin Bancorp had a net margin of 16.26% and a return on equity of 7.97%. On average, equities research analysts anticipate that Origin Bancorp, Inc. will post 4.11 EPS for the current year.

Origin Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 30th. Shareholders of record on Friday, November 13th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Friday, November 13th. Origin Bancorp’s dividend payout ratio is 26.99%.

Institutional Investors Weigh In On Origin Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada grew its stake in shares of 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 acquiring an additional 457 shares during the last quarter. Nykredit A S bought a new position in Origin Bancorp during the second quarter worth $25,000. Allworth Financial LP acquired a new position in Origin Bancorp during the 2nd quarter valued at $30,000. Nisa Investment Advisors LLC raised its stake in Origin Bancorp by 31.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,546 shares of the company’s stock valued at $133,000 after purchasing an additional 616 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in Origin Bancorp by 4.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 17,554 shares of the company’s stock valued at $917,000 after purchasing an additional 689 shares during the last quarter. 54.68% of the stock is owned by institutional investors and hedge funds.

Origin Bancorp Company Profile

Origin Bancorp, Inc is a regional bank holding company headquartered in Ruston, Louisiana. Through its primary subsidiary, Origin Bank, the company provides banking and financial services to businesses, individuals and communities.

Origin Bank offers commercial and small-business lending, consumer loans, residential mortgage lending, deposit accounts, treasury management, cash-management services and wealth-related solutions. Its commercial banking activities include financing for operating needs, real estate and other business purposes, while its consumer offerings include personal deposits and lending products.

The bank serves customers through banking locations and digital channels across Louisiana, Texas and Mississippi.