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

Key Points

• Shares hit a new 52-week high, trading around $46.59, while analyst sentiment is bullish overall with a consensus rating of “Moderate Buy” and a consensus price target of $46.67 (individual targets and upgrades range up to $49).
• Origin reported an earnings beat (EPS $0.95 vs. $0.88) on $94M in revenue, has a P/E of 19.1, low debt-to-equity (0.03) and pays a $0.15 quarterly dividend (1.3% yield, 25% payout ratio).
• Institutional interest is notable—about 54.7% of shares are held by institutions, with several hedge funds substantially increasing their positions in recent quarters.

Shares of Origin Bancorp, Inc. (NYSE:OBK - Get Free Report) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $46.40 and last traded at $46.59, with a volume of 30051 shares trading hands. The stock had previously closed at $44.75.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on OBK. Zacks Research upgraded Origin Bancorp from a "strong sell" rating to a "hold" rating in a research note on Monday, January 26th. Weiss Ratings upgraded Origin Bancorp from a "hold (c)" rating to a "buy (b-)" rating in a research note on Monday, March 2nd. Keefe, Bruyette & Woods raised their target price on Origin Bancorp from $43.00 to $48.00 and gave the company an "outperform" rating in a research note on Monday, February 2nd. Finally, DA Davidson set a $49.00 target price on Origin Bancorp in a research note on Friday, January 30th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $46.67.

Origin Bancorp Trading Up 2.5%

The business's 50 day moving average is $42.48 and its two-hundred day moving average is $39.05. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $1.42 billion, a P/E ratio of 19.12 and a beta of 0.68.

Origin Bancorp (NYSE:OBK - Get Free Report) last issued its quarterly earnings data on Wednesday, January 28th. The company reported $0.95 earnings per share for the quarter, beating analysts' consensus estimates of $0.88 by $0.07. Origin Bancorp had a net margin of 12.58% and a return on equity of 6.21%. The business had revenue of $94.00 million for the quarter.

Origin Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 13th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Friday, February 13th. Origin Bancorp's payout ratio is currently 25.00%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of OBK. Tributary Capital Management LLC grew its holdings in Origin Bancorp by 92.5% during the third quarter. Tributary Capital Management LLC now owns 790,234 shares of the company's stock worth $27,279,000 after acquiring an additional 379,716 shares during the period. Millennium Management LLC grew its holdings in Origin Bancorp by 438.9% during the third quarter. Millennium Management LLC now owns 301,217 shares of the company's stock worth $10,398,000 after acquiring an additional 245,320 shares during the period. Algebris UK Ltd. acquired a new position in Origin Bancorp during the fourth quarter worth about $6,925,000. Endeavour Capital Advisors Inc. grew its holdings in Origin Bancorp by 2,277.7% during the third quarter. Endeavour Capital Advisors Inc. now owns 191,496 shares of the company's stock worth $6,610,000 after acquiring an additional 183,442 shares during the period. Finally, Nuveen LLC grew its holdings in Origin Bancorp by 139.2% during the fourth quarter. Nuveen LLC now owns 275,721 shares of the company's stock worth $10,370,000 after acquiring an additional 160,469 shares during the period. 54.68% of the stock is owned by institutional investors and hedge funds.

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.

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