Origin Bancorp (NASDAQ:OBK) Sets New 1-Year High - Here's What Happened

Origin Bancorp, Inc. (NASDAQ:OBK - Get Free Report) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $32.21 and last traded at $32.04, with a volume of 211205 shares trading hands. The stock had previously closed at $31.93.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Keefe, Bruyette & Woods decreased their price target on shares of Origin Bancorp from $44.00 to $41.00 and set an "outperform" rating on the stock in a research note on Monday, April 28th. Stephens reaffirmed an "overweight" rating and issued a $45.00 price target on shares of Origin Bancorp in a report on Thursday, March 20th. Piper Sandler upgraded shares of Origin Bancorp from a "neutral" rating to an "overweight" rating in a research report on Thursday, April 24th. Raymond James lowered shares of Origin Bancorp from a "strong-buy" rating to an "outperform" rating and reduced their target price for the stock from $44.00 to $39.00 in a research report on Wednesday, April 2nd. Finally, DA Davidson raised their price target on shares of Origin Bancorp from $41.00 to $44.00 and gave the company a "buy" rating in a report on Monday, January 27th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Origin Bancorp has an average rating of "Buy" and an average price target of $42.20.

Origin Bancorp Stock Performance

The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.17. The company has a market cap of $1.03 billion, a price-to-earnings ratio of 13.37 and a beta of 0.79. The stock has a 50 day moving average price of $33.54 and a two-hundred day moving average price of $34.69.

Origin Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Thursday, May 15th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.82%. Origin Bancorp's dividend payout ratio (DPR) is presently 24.59%.

Institutional Investors Weigh In On Origin Bancorp

Large investors have recently bought and sold shares of the company. Barclays PLC increased its position in shares of Origin Bancorp by 79.9% in the 3rd quarter. Barclays PLC now owns 78,187 shares of the company's stock valued at $2,515,000 after buying an additional 34,733 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Origin Bancorp by 27.6% in the third quarter. Franklin Resources Inc. now owns 71,321 shares of the company's stock worth $2,302,000 after acquiring an additional 15,405 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Origin Bancorp by 80.8% during the third quarter. JPMorgan Chase & Co. now owns 72,986 shares of the company's stock worth $2,347,000 after purchasing an additional 32,619 shares during the period. Brooklyn Investment Group acquired a new position in shares of Origin Bancorp in the 4th quarter valued at approximately $48,000. Finally, Janney Montgomery Scott LLC bought a new stake in Origin Bancorp during the 4th quarter worth approximately $219,000. Institutional investors own 54.68% of the company's stock.

About Origin Bancorp

Origin Bancorp, Inc operates as a bank holding company for Origin Bank that provides banking and financial services to small and medium-sized businesses, municipalities, and retail clients in Texas, Louisiana, and Mississippi. It offers noninterest and interest-bearing checking accounts, savings deposits, money market accounts, and time deposits; and offers commercial real estate, construction and land development, consumer, residential real estate, commercial and industrial, mortgage warehouse, and residential mortgage loans.