Origin Bancorp (NYSE:OBK) Reaches New 52-Week High – Time to Buy?

Origin Bancorp, Inc. (NYSE:OBK) shares reached a new 52-week high on Wednesday . The stock traded as high as $52.24 and last traded at $52.2290, with a volume of 36278 shares. The stock had previously closed at $51.15.

Wall Street Analysts Forecast Growth

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

Origin Bancorp Price Performance

The company has a fifty day moving average of $48.09 and a 200-day moving average of $43.87. The firm has a market cap of $1.59 billion, a P/E ratio of 19.91 and a beta of 0.72. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.97 and a quick ratio of 0.97.

Origin Bancorp (NYSE:OBK) last issued its quarterly earnings data 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). The company had revenue of $104.04 million for the quarter. Origin Bancorp had a net margin of 13.46% and a return on equity of 6.53%. On average, sell-side analysts anticipate that Origin Bancorp, Inc. will post 4.03 EPS for the current fiscal year.

Origin Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were issued a $0.25 dividend. 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 1.9%. The ex-dividend date was Friday, May 15th. Origin Bancorp’s dividend payout ratio is currently 38.76%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC increased its position in shares of Origin Bancorp by 438.9% during the 3rd quarter. Millennium Management LLC now owns 301,217 shares of the company’s stock valued at $10,398,000 after purchasing an additional 245,320 shares during the last quarter. Algebris UK Ltd. purchased a new position in shares of Origin Bancorp in the 4th quarter worth about $6,925,000. Nuveen LLC boosted its holdings in shares of Origin Bancorp by 139.2% in the 4th quarter. Nuveen LLC now owns 275,721 shares of the company’s stock worth $10,370,000 after buying an additional 160,469 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Origin Bancorp by 219.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 179,657 shares of the company’s stock worth $6,202,000 after buying an additional 123,333 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Origin Bancorp by 17.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 797,576 shares of the company’s stock valued at $29,997,000 after buying an additional 116,410 shares during the period. 54.68% of the stock is currently owned by hedge funds and other institutional investors.

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.