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

Origin Bancorp, Inc. (NYSE:OBK)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $52.24 and last traded at $52.2290, with a volume of 36278 shares trading hands. The stock had previously closed at $51.15.

Analyst Upgrades and Downgrades

OBK has been the topic of several recent research reports. Stephens raised their price target on Origin Bancorp from $49.00 to $54.00 and gave the stock an “overweight” rating in a research report on Friday, April 24th. Weiss Ratings raised Origin Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, April 27th. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $48.50.

Origin Bancorp Trading Up 1.8%

The company’s fifty day simple moving average is $47.84 and its two-hundred day simple moving average is $43.69. 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 company has a market capitalization of $1.61 billion, a price-to-earnings ratio of 20.17 and a beta of 0.73.

Origin Bancorp (NYSE:OBK) last announced 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 net margin of 13.46% and a return on equity of 6.53%. The firm had revenue of $104.04 million during the quarter. Research analysts forecast that Origin Bancorp, Inc. will post 4.03 earnings per share for the current fiscal year.

Origin Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.9%. This is an increase from Origin Bancorp’s previous quarterly dividend of $0.15. The ex-dividend date was Friday, May 15th. Origin Bancorp’s dividend payout ratio is currently 38.76%.

Hedge Funds Weigh In On Origin Bancorp

Several institutional investors and hedge funds have recently modified their holdings of OBK. Kestra Advisory Services LLC bought a new stake in Origin Bancorp during the 4th quarter worth approximately $27,000. Quarry LP acquired a new position in shares of Origin Bancorp in the third quarter valued at approximately $25,000. International Assets Investment Management LLC acquired a new position in shares of Origin Bancorp in the fourth quarter valued at approximately $30,000. PNC Financial Services Group Inc. increased its position in shares of 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. Finally, Tower Research Capital LLC TRC raised its holdings in shares of 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 during the period. 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.