Origin Bancorp (NYSE:OBK) Hits New 52-Week High - Still a Buy?

Key Points

• Origin Bancorp shares hit a new 52-week high on Thursday, trading as high as $53.04 and closing near that level at $53.01, above the prior close of $51.52.
• Analyst sentiment remains constructive, with the stock carrying a “Moderate Buy” rating overall and a consensus price target of $51.50, even as recent price targets were raised by Stephens and Piper Sandler.
• The company boosted its dividend to $0.25 per quarter from $0.15, implying a $1.00 annual dividend and a 1.9% yield, while latest quarterly EPS slightly missed expectations by $0.01.

Shares of Origin Bancorp, Inc. (NYSE:OBK - Get Free Report) hit a new 52-week high during trading on Thursday . The stock traded as high as $53.04 and last traded at $53.0080, with a volume of 58211 shares. The stock had previously closed at $51.52.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Weiss Ratings raised Origin Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, April 27th. Stephens lifted their target price on Origin Bancorp from $49.00 to $54.00 and gave the company an "overweight" rating in a research report on Friday, April 24th. Finally, Piper Sandler reissued a "neutral" rating and set a $55.00 price target (up from $51.00) on shares of Origin Bancorp in a research report on Sunday. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Origin Bancorp currently has an average rating of "Moderate Buy" and a consensus price target of $51.50.

Origin Bancorp Price Performance

The stock has a market cap of $1.64 billion, a price-to-earnings ratio of 20.59 and a beta of 0.72. The stock has a fifty day moving average of $48.88 and a 200 day moving average of $44.64. 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 - Get Free Report) last announced 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, analysts expect that Origin Bancorp, Inc. will post 3.97 EPS for the current fiscal year.

Origin Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were paid a $0.25 dividend. The ex-dividend date was Friday, May 15th. This represents a $1.00 annualized dividend and a dividend yield of 1.9%. This is a boost from Origin Bancorp's previous quarterly dividend of $0.15. Origin Bancorp's dividend payout ratio (DPR) is presently 38.76%.

Hedge Funds Weigh In On Origin Bancorp

A number of large investors have recently added to or reduced their stakes in OBK. Revolve Wealth Partners LLC acquired a new stake in Origin Bancorp in the 2nd quarter worth about $219,000. Summit Financial Wealth Advisors LLC raised its position in Origin Bancorp by 5.3% in the first quarter. Summit Financial Wealth Advisors LLC now owns 13,917 shares of the company's stock valued at $577,000 after purchasing an additional 700 shares during the period. Bank of America Corp DE grew its stake in Origin Bancorp by 71.2% during the 1st quarter. Bank of America Corp DE now owns 74,524 shares of the company's stock worth $3,090,000 after purchasing an additional 31,005 shares in the last quarter. Royal Bank of Canada lifted its stake in Origin Bancorp by 2.6% in the first quarter. Royal Bank of Canada now owns 18,167 shares of the company's stock worth $753,000 after acquiring an additional 457 shares during the last quarter. Finally, Empowered Funds LLC lifted its position in shares of Origin Bancorp by 4.9% during the 1st quarter. Empowered Funds LLC now owns 138,469 shares of the company's stock worth $5,741,000 after purchasing an additional 6,506 shares during the last quarter. 54.68% of the stock is currently owned by institutional investors and hedge funds.

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.

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