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

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

Analyst Ratings Changes

Several research analysts recently commented on the stock. Stephens increased their target price on shares of Origin Bancorp from $49.00 to $54.00 and gave the stock an “overweight” rating in a report on Friday, April 24th. Weiss Ratings upgraded shares of Origin Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, April 27th. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.50.

Origin Bancorp Price Performance

The company has a debt-to-equity ratio of 0.02, a current ratio of 0.97 and a quick ratio of 0.97. The company’s 50-day simple moving average is $45.53 and its 200-day simple moving average is $42.01. The stock has a market capitalization of $1.49 billion, a P/E ratio of 18.65 and a beta of 0.73.

Origin Bancorp (NYSE:OBK) last posted its quarterly earnings results 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). 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 declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.1%. This is an increase 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 currently 38.76%.

Institutional Trading of Origin Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in OBK. Quarry LP bought a new stake in Origin Bancorp during the third quarter worth $25,000. Kestra Advisory Services LLC bought a new stake in Origin Bancorp during the fourth quarter worth $27,000. International Assets Investment Management LLC bought a new stake in Origin Bancorp during the fourth quarter worth $30,000. Tower Research Capital LLC TRC raised its position in Origin Bancorp by 232.5% during the second quarter. Tower Research Capital LLC TRC now owns 2,620 shares of the company’s stock worth $94,000 after acquiring an additional 1,832 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in Origin Bancorp by 42.7% during 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. 54.68% of the stock is owned by institutional investors.

Origin Bancorp Company Profile

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.