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

Origin Bancorp, Inc. (NYSE:OBK)’s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $53.28 and last traded at $53.4120, with a volume of 4619 shares changing hands. The stock had previously closed at $52.54.

Analysts Set New Price Targets

Several research firms recently commented on OBK. Weiss Ratings upgraded Origin Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, April 27th. Raymond James Financial restated an “outperform” rating on shares of Origin Bancorp in a research note on Thursday. Stephens raised their price target on shares of Origin Bancorp from $49.00 to $54.00 and gave the company an “overweight” rating in a report on Friday, April 24th. Finally, Piper Sandler raised their price target on shares of Origin Bancorp from $55.00 to $56.00 and gave the company a “neutral” rating in a report on Friday. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $51.75.

Origin Bancorp Stock Performance

The business’s 50 day simple moving average is $49.75 and its two-hundred day simple moving average is $45.30. The firm has a market capitalization of $1.66 billion, a PE ratio of 16.75 and a beta of 0.72. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.02.

Origin Bancorp (NYSE:OBK) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. Origin Bancorp had a return on equity of 8.03% and a net margin of 16.26%.The firm had revenue of $107.59 million for the quarter. Research analysts expect that Origin Bancorp, Inc. will post 4.08 earnings per share for the current fiscal year.

Origin Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 14th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.9%. Origin Bancorp’s dividend payout ratio is currently 31.25%.

Institutional Investors Weigh In On Origin Bancorp

Large investors have recently made changes to their positions in the company. Revolve Wealth Partners LLC bought a new position in shares of Origin Bancorp in the 2nd quarter worth approximately $219,000. Summit Financial Wealth Advisors LLC grew its position in Origin Bancorp by 5.3% during the first quarter. Summit Financial Wealth Advisors LLC now owns 13,917 shares of the company’s stock valued at $577,000 after buying an additional 700 shares during the period. Bank of America Corp DE grew its position in Origin Bancorp by 71.2% during the first quarter. Bank of America Corp DE now owns 74,524 shares of the company’s stock valued at $3,090,000 after buying an additional 31,005 shares during the period. Royal Bank of Canada increased its holdings in Origin Bancorp by 2.6% during the first quarter. Royal Bank of Canada now owns 18,167 shares of the company’s stock valued at $753,000 after buying an additional 457 shares during the last quarter. Finally, Empowered Funds LLC increased its holdings in Origin Bancorp by 4.9% during the first quarter. Empowered Funds LLC now owns 138,469 shares of the company’s stock valued at $5,741,000 after buying an additional 6,506 shares during the last quarter. 54.68% of the stock is currently owned by institutional investors.

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.