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

Origin Bancorp, Inc. (NYSE:OBK)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $41.27 and last traded at $41.4640, with a volume of 69704 shares changing hands. The stock had previously closed at $39.70.

Analysts Set New Price Targets

Several equities research analysts have recently commented on OBK shares. Weiss Ratings restated a “hold (c)” rating on shares of Origin Bancorp in a research note on Wednesday, October 8th. Piper Sandler boosted their target price on Origin Bancorp from $42.00 to $43.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Wall Street Zen upgraded shares of Origin Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Zacks Research cut shares of Origin Bancorp from a “hold” rating to a “strong sell” rating in a report on Monday, January 12th. Finally, DA Davidson began coverage on Origin Bancorp in a report on Tuesday, November 25th. They issued a “buy” rating and a $42.00 price target for the company. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.80.

Origin Bancorp Stock Performance

The stock has a market capitalization of $1.29 billion, a PE ratio of 21.82 and a beta of 0.74. The stock has a 50-day moving average of $37.74. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.08.

Origin Bancorp (NYSE:OBK) last announced its quarterly earnings data on Wednesday, October 22nd. The company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.62). The business had revenue of $99.62 million during the quarter, compared to the consensus estimate of $103.95 million. Origin Bancorp had a return on equity of 5.05% and a net margin of 10.23%.

Insider Buying and Selling

In related news, insider Preston Moore acquired 6,500 shares of the company’s stock in a transaction dated Monday, October 27th. The shares were bought at an average price of $34.27 per share, for a total transaction of $222,755.00. Following the purchase, the insider directly owned 54,882 shares in the company, valued at approximately $1,880,806.14. This trade represents a 13.43% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jim Crotwell acquired 3,000 shares of the business’s stock in a transaction dated Monday, October 27th. The stock was bought at an average cost of $34.32 per share, with a total value of $102,960.00. Following the acquisition, the insider owned 24,475 shares in the company, valued at $839,982. The trade was a 13.97% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 25,918 shares of company stock worth $893,280 over the last three months. Company insiders own 6.39% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Tributary Capital Management LLC grew its holdings in Origin Bancorp by 92.5% during the third quarter. Tributary Capital Management LLC now owns 790,234 shares of the company’s stock worth $27,279,000 after purchasing an additional 379,716 shares during the period. Millennium Management LLC boosted its stake in shares of Origin Bancorp by 438.9% during the 3rd quarter. Millennium Management LLC now owns 301,217 shares of the company’s stock worth $10,398,000 after acquiring an additional 245,320 shares during the period. Endeavour Capital Advisors Inc. boosted its stake in shares of Origin Bancorp by 2,277.7% during the 3rd quarter. Endeavour Capital Advisors Inc. now owns 191,496 shares of the company’s stock worth $6,610,000 after acquiring an additional 183,442 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of Origin Bancorp by 219.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 179,657 shares of the company’s stock worth $6,202,000 after acquiring an additional 123,333 shares during the last quarter. Finally, Tudor Investment Corp ET AL bought a new stake in Origin Bancorp in the 3rd quarter valued at $2,964,000. 54.68% of the stock is currently owned by institutional investors and hedge funds.

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.