Origin Bancorp (NYSE:OBK) Reaches New 12-Month High – Still a Buy?

Shares of Origin Bancorp, Inc. (NYSE:OBK) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $48.15 and last traded at $48.03, with a volume of 2911 shares. The stock had previously closed at $47.32.

Analyst Ratings Changes

A number of research firms recently weighed in on OBK. DA Davidson set a $49.00 price objective on shares of Origin Bancorp in a research note on Friday, January 30th. Keefe, Bruyette & Woods lifted their price objective on shares of Origin Bancorp from $43.00 to $48.00 and gave the company an “outperform” rating in a research note on Monday, February 2nd. Zacks Research upgraded shares of Origin Bancorp from a “strong sell” rating to a “hold” rating in a research note on Monday, January 26th. Stephens lifted their price objective on shares of Origin Bancorp from $49.00 to $54.00 and gave the company an “overweight” rating in a research note on Friday, April 24th. Finally, Weiss Ratings upgraded shares of Origin Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, April 27th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $48.50.

Origin Bancorp Price Performance

The firm has a market capitalization of $1.48 billion, a PE ratio of 18.53 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 business’s 50 day moving average is $44.30 and its two-hundred day moving average is $41.28.

Origin Bancorp (NYSE:OBK) last posted its quarterly earnings data 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). 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. Equities research analysts anticipate that Origin Bancorp, Inc. will post 4.01 earnings per share for the current fiscal year.

Origin Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 15th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.1%. This is an increase from Origin Bancorp’s previous quarterly dividend of $0.15. Origin Bancorp’s payout ratio is presently 38.76%.

Institutional Trading of Origin Bancorp

Several hedge funds have recently added to or reduced their stakes in OBK. Millennium Management LLC lifted its stake in Origin Bancorp by 438.9% in the third quarter. Millennium Management LLC now owns 301,217 shares of the company’s stock worth $10,398,000 after purchasing an additional 245,320 shares during the last quarter. Algebris UK Ltd. bought a new stake in Origin Bancorp in the fourth quarter worth $6,925,000. Endeavour Capital Advisors Inc. lifted its stake in Origin Bancorp by 2,277.7% in the third quarter. Endeavour Capital Advisors Inc. now owns 191,496 shares of the company’s stock worth $6,610,000 after purchasing an additional 183,442 shares during the last quarter. Nuveen LLC lifted its stake in Origin Bancorp by 139.2% in the fourth quarter. Nuveen LLC now owns 275,721 shares of the company’s stock worth $10,370,000 after purchasing an additional 160,469 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in Origin Bancorp by 219.0% in the third quarter. Ameriprise Financial Inc. now owns 179,657 shares of the company’s stock worth $6,202,000 after purchasing an additional 123,333 shares during the last quarter. 54.68% of the stock is owned by institutional investors.

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.