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

Origin Bancorp, Inc. (NYSE:OBK) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $49.70 and last traded at $49.2270, with a volume of 136233 shares traded. The stock had previously closed at $48.81.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Stephens raised their price objective on shares of Origin Bancorp from $49.00 to $54.00 and gave the stock an “overweight” rating in a research note on Friday, April 24th. Weiss Ratings upgraded Origin Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, April 27th. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Origin Bancorp has an average rating of “Moderate Buy” and an average target price of $48.50.

Origin Bancorp Stock Up 0.9%

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 stock has a market cap of $1.52 billion, a P/E ratio of 19.08 and a beta of 0.73. The company’s 50 day moving average price is $46.02 and its two-hundred day moving average price is $42.38.

Origin Bancorp (NYSE:OBK) last announced its quarterly earnings data 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). The firm 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%. As a group, research analysts expect that Origin Bancorp, Inc. will post 4.01 earnings per share for the current year.

Origin Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were issued a $0.25 dividend. The ex-dividend date was Friday, May 15th. This is an increase from Origin Bancorp’s previous quarterly dividend of $0.15. This represents a $1.00 annualized dividend and a dividend yield of 2.0%. Origin Bancorp’s dividend payout ratio is presently 38.76%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in OBK. The Manufacturers Life Insurance Company raised its holdings in shares of Origin Bancorp by 2.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,402 shares of the company’s stock valued at $550,000 after purchasing an additional 300 shares in the last quarter. LPL Financial LLC increased its holdings in shares of Origin Bancorp by 1.9% in the 4th quarter. LPL Financial LLC now owns 16,122 shares of the company’s stock valued at $606,000 after acquiring an additional 300 shares during the period. Jacobs Levy Equity Management Inc. lifted its stake in shares of Origin Bancorp by 2.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 13,724 shares of the company’s stock worth $474,000 after purchasing an additional 375 shares during the last quarter. Natixis Advisors LLC boosted its position in Origin Bancorp by 2.4% during 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 raised its holdings in Origin Bancorp by 2.6% in the first quarter. Royal Bank of Canada now owns 18,167 shares of the company’s stock worth $753,000 after purchasing an additional 457 shares in the last quarter. Hedge funds and other institutional investors own 54.68% of the company’s stock.

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.