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 on Wednesday . The company traded as high as $41.27 and last traded at $41.4640, with a volume of 69704 shares. The stock had previously closed at $39.70.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. DA Davidson initiated coverage on shares of Origin Bancorp in a report on Tuesday, November 25th. They set a “buy” rating and a $42.00 price target for the company. Zacks Research cut shares of Origin Bancorp from a “hold” rating to a “strong sell” rating in a report on Monday, January 12th. Wall Street Zen raised shares of Origin Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Origin Bancorp in a report on Wednesday, October 8th. Finally, Piper Sandler raised their price objective on shares of Origin Bancorp from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, October 27th. Five equities research 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.com, Origin Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $42.80.

Origin Bancorp Trading Up 5.0%

The company has a debt-to-equity ratio of 0.08, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 21.82 and a beta of 0.74. The company’s fifty day moving average price is $37.74.

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

Insider Buying and Selling at Origin Bancorp

In related news, insider Preston Moore acquired 6,500 shares of the business’s stock in a transaction that occurred on Monday, October 27th. The shares were acquired at an average cost of $34.27 per share, with a total value of $222,755.00. Following the purchase, the insider owned 54,882 shares of the company’s stock, valued at approximately $1,880,806.14. The trade was a 13.43% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James Samuel Jr. D’agostino bought 1,000 shares of the firm’s stock in a transaction on Monday, October 27th. The shares were bought at an average cost of $33.93 per share, with a total value of $33,930.00. Following the transaction, the director directly owned 47,917 shares of the company’s stock, valued at approximately $1,625,823.81. This trade represents a 2.13% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 25,918 shares of company stock worth $893,280 in the last 90 days. Company insiders own 6.39% of the company’s stock.

Hedge Funds Weigh In On Origin Bancorp

Large investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC bought a new stake in shares of Origin Bancorp in the second quarter valued at about $483,000. Creative Planning lifted its position in shares of Origin Bancorp by 17.6% in the 2nd quarter. Creative Planning now owns 59,884 shares of the company’s stock worth $2,140,000 after acquiring an additional 8,941 shares during the period. Concurrent Investment Advisors LLC acquired a new stake in shares of Origin Bancorp during the 2nd quarter worth approximately $224,000. Tributary Capital Management LLC increased its position in shares of Origin Bancorp by 92.5% during the third quarter. Tributary Capital Management LLC now owns 790,234 shares of the company’s stock valued at $27,279,000 after purchasing an additional 379,716 shares during the period. Finally, Franklin Resources Inc. raised its stake in shares of Origin Bancorp by 25.6% in the second quarter. Franklin Resources Inc. now owns 138,574 shares of the company’s stock valued at $4,953,000 after purchasing an additional 28,263 shares in the last quarter. Institutional investors and hedge funds 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.