Origin Bancorp (NYSE:OBK) Sets New 1-Year High – Here’s Why

Shares of Origin Bancorp, Inc. (NYSE:OBK) reached a new 52-week high during trading on Wednesday. The stock traded as high as $55.64 and last traded at $55.0830, with a volume of 3,572 shares trading hands. The stock had previously closed at $53.62.

Wall Street Analysts Forecast Growth

OBK has been the subject of a number of recent research reports. Weiss Ratings raised shares of Origin Bancorp from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, October 8th. Keefe, Bruyette & Woods upped their target price on shares of Origin Bancorp from $57.00 to $60.00 and gave the company an “outperform” rating in a research report on Tuesday, August 4th. Piper Sandler increased 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, July 24th. DA Davidson lifted their price target on Origin Bancorp from $53.00 to $62.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Finally, Raymond James Financial boosted their price objective on Origin Bancorp from $56.00 to $58.00 and gave the stock an “outperform” rating in a research note on Friday, October 2nd. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $58.00.

Origin Bancorp Price Performance

The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.12. The firm’s 50 day simple moving average is $52.91 and its 200 day simple moving average is $48.36. The company has a market capitalization of $1.73 billion, a PE ratio of 17.48 and a beta of 0.74.

Origin Bancorp (NYSE:OBK) last announced its earnings results on Wednesday, October 28th. The company reported $1.22 earnings per share for the quarter. Origin Bancorp had a net margin of 16.26% and a return on equity of 7.97%. The business had revenue of $113.22 million for the quarter. As a group, research analysts anticipate that Origin Bancorp, Inc. will post 4.11 EPS for the current fiscal year.

Origin Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 30th. Investors of record on Friday, November 13th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.0%. The ex-dividend date is Friday, November 13th. Origin Bancorp’s dividend payout ratio is presently 26.99%.

Institutional Trading of Origin Bancorp

Institutional investors have recently added to or reduced their stakes in the company. Nykredit A S purchased a new position in shares of Origin Bancorp during the second quarter valued at approximately $25,000. Allworth Financial LP purchased a new stake in shares of Origin Bancorp in the second quarter worth approximately $30,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Origin Bancorp in the second quarter worth approximately $47,000. USA Financial Formulas bought a new stake in shares of Origin Bancorp during the 3rd quarter worth approximately $49,000. Finally, Heritage Family Offices LLP bought a new stake in shares of Origin Bancorp during the 3rd quarter worth approximately $75,000. Institutional investors own 54.68% of the company’s stock.

Origin Bancorp Company Profile

Origin Bancorp, Inc is a regional bank holding company headquartered in Ruston, Louisiana. Through its primary subsidiary, Origin Bank, the company provides banking and financial services to businesses, individuals and communities.

Origin Bank offers commercial and small-business lending, consumer loans, residential mortgage lending, deposit accounts, treasury management, cash-management services and wealth-related solutions. Its commercial banking activities include financing for operating needs, real estate and other business purposes, while its consumer offerings include personal deposits and lending products.

The bank serves customers through banking locations and digital channels across Louisiana, Texas and Mississippi.