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

Origin Bancorp, Inc. (NYSE:OBK)’s share price hit a new 52-week high during mid-day trading 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.

Analyst Ratings Changes

A number of analysts recently commented on OBK shares. Keefe, Bruyette & Woods upped their price target on shares of Origin Bancorp from $43.00 to $48.00 and gave the company an “outperform” rating in a research note on Monday, February 2nd. Weiss Ratings raised Origin Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, April 27th. DA Davidson set a $49.00 price objective on Origin Bancorp in a research note on Friday, January 30th. Finally, Stephens increased their price objective on Origin Bancorp from $49.00 to $54.00 and gave the stock an “overweight” rating in a report on Friday, April 24th. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Origin Bancorp has an average rating of “Moderate Buy” and an average price target of $48.50.

Origin Bancorp Stock Up 0.1%

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 has a market capitalization of $1.46 billion, a P/E ratio of 18.37 and a beta of 0.73. The company has a 50 day moving average of $44.58 and a 200-day moving average of $41.46.

Origin Bancorp (NYSE:OBK) last released its quarterly earnings results on Wednesday, April 22nd. The company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.01). The company had revenue of $104.04 million during the quarter. Origin Bancorp had a net margin of 13.46% and a return on equity of 6.53%. As a group, equities analysts anticipate that Origin Bancorp, Inc. will post 4.01 EPS for the current year.

Origin Bancorp Increases Dividend

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in OBK. Tudor Investment Corp ET AL bought a new position in Origin Bancorp in the third quarter worth $2,964,000. Endeavour Capital Advisors Inc. raised its holdings in Origin Bancorp by 2,277.7% in the third quarter. Endeavour Capital Advisors Inc. now owns 191,496 shares of the company’s stock worth $6,610,000 after purchasing an additional 183,442 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Origin Bancorp by 15.5% in the third quarter. JPMorgan Chase & Co. now owns 185,941 shares of the company’s stock worth $6,419,000 after purchasing an additional 24,949 shares in the last quarter. Elizabeth Park Capital Advisors Ltd. bought a new position in Origin Bancorp in the third quarter worth $1,933,000. Finally, Vanguard Group Inc. raised its holdings in Origin Bancorp by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 1,753,530 shares of the company’s stock worth $65,950,000 after purchasing an additional 37,050 shares in the last quarter. Hedge funds and other institutional investors own 54.68% of the company’s stock.

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.