Origin Bancorp (NYSE:OBK) Sets New 12-Month High - Should You Buy?

Key Points

• Origin Bancorp shares reached a new 52-week high of $55.35, with the stock valued at approximately $1.70 billion and trading above both its 50-day and 200-day moving averages.
• Analyst sentiment is favorable, with five Buy ratings and two Holds producing a consensus “Moderate Buy” rating and a $55 average price target. DA Davidson raised its target to $62, while Piper Sandler maintained a Neutral rating with a $56 target.
• The company exceeded quarterly earnings expectations, reporting $1.09 in EPS versus the $1.00 consensus estimate, and declared a quarterly dividend of $0.25 per share—an annualized yield of about 1.8%.

Origin Bancorp, Inc. (NYSE:OBK - Get Free Report)'s share price reached a new 52-week high on Thursday . The company traded as high as $55.35 and last traded at $55.0760, with a volume of 166660 shares traded. The stock had previously closed at $55.21.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Raymond James Financial reaffirmed an "outperform" rating on shares of Origin Bancorp in a research report on Thursday, July 23rd. Weiss Ratings restated a "buy (b)" rating on shares of Origin Bancorp in a research note on Friday, July 24th. Stephens upped their price objective on shares of Origin Bancorp from $49.00 to $54.00 and gave the company an "overweight" rating in a report on Friday, April 24th. DA Davidson increased their price objective on shares of Origin Bancorp from $53.00 to $62.00 and gave the company a "buy" rating in a research report on Friday, July 24th. Finally, Piper Sandler lifted their target price on shares of Origin Bancorp from $55.00 to $56.00 and gave the stock a "neutral" rating in a research note on Friday, July 24th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $55.00.

Origin Bancorp Stock Performance

The firm has a 50-day moving average of $50.24 and a two-hundred day moving average of $45.69. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $1.70 billion, a PE ratio of 17.21 and a beta of 0.72.

Origin Bancorp (NYSE:OBK - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $1.09 EPS for the quarter, beating the consensus estimate of $1.00 by $0.09. Origin Bancorp had a net margin of 16.26% and a return on equity of 8.03%. The company had revenue of $107.59 million for the quarter. Research analysts anticipate that Origin Bancorp, Inc. will post 4.13 EPS for the current year.

Origin Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.8%. Origin Bancorp's dividend payout ratio is presently 31.25%.

Institutional Investors Weigh In On Origin Bancorp

Large investors have recently made changes to their positions in the stock. Revolve Wealth Partners LLC acquired a new stake in Origin Bancorp during the second quarter worth about $219,000. Summit Financial Wealth Advisors LLC boosted its holdings in Origin Bancorp by 5.3% in the 1st 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 last quarter. Bank of America Corp DE boosted its holdings in Origin Bancorp by 71.2% in the 1st quarter. Bank of America Corp DE now owns 74,524 shares of the company's stock valued at $3,090,000 after purchasing an additional 31,005 shares during the last quarter. Royal Bank of Canada grew its stake in shares of Origin Bancorp by 2.6% in the 1st quarter. Royal Bank of Canada now owns 18,167 shares of the company's stock valued at $753,000 after buying an additional 457 shares during the period. Finally, Empowered Funds LLC grew its stake in shares of Origin Bancorp by 4.9% in the 1st quarter. Empowered Funds LLC now owns 138,469 shares of the company's stock valued at $5,741,000 after buying an additional 6,506 shares during the period. 54.68% of the stock is currently owned by hedge funds and other 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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