Origin Bancorp (NYSE:OBK) Hits New 52-Week High – Here’s Why

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

Analyst Ratings Changes

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

Origin Bancorp Trading Up 1.4%

The company has a 50 day moving average of $46.35 and a 200-day moving average of $42.53. 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 stock has a market cap of $1.55 billion, a price-to-earnings ratio of 19.47 and a beta of 0.73.

Origin Bancorp (NYSE:OBK) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.01). Origin Bancorp had a return on equity of 6.53% and a net margin of 13.46%.The company had revenue of $104.04 million for the quarter. On average, research analysts anticipate that Origin Bancorp, Inc. will post 4.01 earnings per share for the current year.

Origin Bancorp Increases Dividend

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

Institutional Investors Weigh In On Origin Bancorp

Several large investors have recently bought and sold shares of OBK. AQR Capital Management LLC increased its holdings in Origin Bancorp by 50.5% during the 1st quarter. AQR Capital Management LLC now owns 39,056 shares of the company’s stock worth $1,354,000 after purchasing an additional 13,107 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Origin Bancorp by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,460 shares of the company’s stock worth $605,000 after purchasing an additional 775 shares during the period. Goldman Sachs Group Inc. increased its holdings in Origin Bancorp by 3.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 653,589 shares of the company’s stock worth $22,660,000 after purchasing an additional 20,146 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Origin Bancorp by 49.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 71,849 shares of the company’s stock worth $2,491,000 after purchasing an additional 23,906 shares during the period. Finally, Jane Street Group LLC increased its holdings in Origin Bancorp by 97.9% during the 1st quarter. Jane Street Group LLC now owns 117,954 shares of the company’s stock worth $4,089,000 after purchasing an additional 58,340 shares during the period. Hedge funds and other institutional investors 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.