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

Key Points

• Origin Bancorp hit a new 52-week high, trading as high as $53.28 after its latest earnings report and recent market momentum.
• The company beat quarterly earnings expectations, reporting $1.09 EPS versus the $1.00 consensus, while analysts remain cautiously positive with a Moderate Buy rating and a consensus price target of $51.75.
• Origin Bancorp also announced a quarterly dividend of $0.25 per share, or $1.00 annualized, for a 1.9% yield with payment scheduled for August 31.

Origin Bancorp, Inc. (NYSE:OBK - Get Free Report) hit a new 52-week high on Friday . The stock traded as high as $53.28 and last traded at $53.4120, with a volume of 4619 shares changing hands. The stock had previously closed at $52.54.

Analysts Set New Price Targets

A number of brokerages recently commented on OBK. Piper Sandler reaffirmed a "neutral" rating and issued a $56.00 target price on shares of Origin Bancorp in a research report on Friday. Raymond James Financial reissued an "outperform" rating on shares of Origin Bancorp in a research note on Thursday. Stephens upped their target price on Origin Bancorp from $49.00 to $54.00 and gave the stock an "overweight" rating in a research report on Friday, April 24th. Finally, Weiss Ratings raised Origin Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, April 27th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $51.75.

Origin Bancorp Stock Performance

The firm has a market cap of $1.65 billion, a P/E ratio of 16.64 and a beta of 0.72. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.02. The company's 50-day moving average is $49.58 and its two-hundred day moving average is $45.24.

Origin Bancorp (NYSE:OBK - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $1.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.00 by $0.09. The business had revenue of $107.59 million during the quarter. Origin Bancorp had a return on equity of 8.03% and a net margin of 16.26%. As a group, equities analysts predict that Origin Bancorp, Inc. will post 3.97 EPS for the current fiscal year.

Origin Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 14th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, August 14th. This represents a $1.00 annualized dividend and a yield of 1.9%. Origin Bancorp's dividend payout ratio is 38.76%.

Hedge Funds Weigh In On Origin Bancorp

Several large investors have recently bought and sold shares of OBK. Tudor Investment Corp ET AL purchased a new stake in Origin Bancorp in the 3rd quarter worth approximately $2,964,000. JPMorgan Chase & Co. grew its position in shares of Origin Bancorp by 15.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 185,941 shares of the company's stock valued at $6,419,000 after purchasing an additional 24,949 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Origin Bancorp by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 1,753,530 shares of the company's stock valued at $65,950,000 after purchasing an additional 37,050 shares in the last quarter. Endeavour Capital Advisors Inc. increased its holdings in shares of Origin Bancorp by 44.3% in the fourth quarter. Endeavour Capital Advisors Inc. now owns 276,308 shares of the company's stock worth $10,392,000 after purchasing an additional 84,812 shares during the period. Finally, Algebris UK Ltd. bought a new position in shares of Origin Bancorp in the fourth quarter worth $6,925,000. 54.68% of the stock is currently 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.

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