Origin Bancorp (NYSE:OBK) Reaches New 1-Year High – Still a Buy?

Origin Bancorp, Inc. (NYSE:OBK) hit a new 52-week high during trading on Tuesday . The stock traded as high as $50.35 and last traded at $50.35, with a volume of 48281 shares trading hands. The stock had previously closed at $49.54.

Analyst Ratings Changes

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

Origin Bancorp Trading Up 1.6%

The company has a market cap of $1.56 billion, a PE ratio of 19.51 and a beta of 0.73. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.97 and a current ratio of 0.97. The company has a 50 day simple moving average of $47.11 and a two-hundred day simple moving average of $43.12.

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

Origin Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Friday, May 15th. This is a positive change from Origin Bancorp’s previous quarterly dividend of $0.15. Origin Bancorp’s payout ratio is currently 38.76%.

Institutional Investors Weigh In On Origin Bancorp

Institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company grew its holdings in shares of Origin Bancorp by 2.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,402 shares of the company’s stock valued at $550,000 after acquiring an additional 300 shares in the last quarter. LPL Financial LLC boosted its position in Origin Bancorp by 1.9% during the fourth quarter. LPL Financial LLC now owns 16,122 shares of the company’s stock valued at $606,000 after purchasing an additional 300 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in Origin Bancorp by 2.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 13,724 shares of the company’s stock valued at $474,000 after purchasing an additional 375 shares during the last quarter. Natixis Advisors LLC grew its stake in Origin Bancorp by 2.4% in the fourth quarter. Natixis Advisors LLC now owns 16,511 shares of the company’s stock valued at $621,000 after purchasing an additional 394 shares in the last quarter. Finally, Royal Bank of Canada increased its position in Origin Bancorp by 2.6% in the 1st quarter. Royal Bank of Canada now owns 18,167 shares of the company’s stock worth $753,000 after purchasing an additional 457 shares during 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.