Origin Bancorp (NYSE:OBK) Reaches New 12-Month High - Still a Buy?

Key Points

• Origin Bancorp shares hit a new 52-week high, reaching $55.64 and trading up from the prior close of $53.62.
• Analyst sentiment is generally positive: five analysts rate the stock Buy and three Hold, for a Moderate Buy consensus and an average price target of $58.
• The company reported quarterly earnings of $1.22 per share on $113.22 million in revenue and announced a quarterly dividend of $0.28 per share, equivalent to a 2.0% yield.

Origin Bancorp, Inc. (NYSE:OBK - Get Free Report) hit a new 52-week high on Wednesday. The company traded as high as $55.64 and last traded at $55.0830, with a volume of 3,572 shares traded. The stock had previously closed at $53.62.

Analysts Set New Price Targets

Several analysts have commented on OBK shares. Keefe, Bruyette & Woods increased their target price on Origin Bancorp from $57.00 to $60.00 and gave the company an "outperform" rating in a research note on Tuesday, August 4th. Weiss Ratings upgraded Origin Bancorp from a "buy (b)" rating to a "buy (b+)" rating in a research note on Thursday, October 8th. Piper Sandler upped their price target on Origin Bancorp from $55.00 to $56.00 and gave the company a "neutral" rating in a report on Friday, July 24th. Benchmark raised Origin Bancorp to a "hold" rating in a research report on Thursday, September 24th. Finally, Raymond James Financial lifted their price target on shares of Origin Bancorp from $56.00 to $58.00 and gave the stock an "outperform" rating in a research note on Friday, October 2nd. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $58.00.

Origin Bancorp Trading Up 4.3%

The firm has a market capitalization of $1.73 billion, a P/E ratio of 17.48 and a beta of 0.74. The stock's 50-day simple moving average is $52.91 and its two-hundred day simple moving average is $48.36. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.98 and a quick ratio of 0.98.

Origin Bancorp (NYSE:OBK - Get Free Report) last released its earnings results on Wednesday, October 28th. The company reported $1.22 earnings per share for the quarter. Origin Bancorp had a net margin of 16.26% and a return on equity of 7.97%. The company had revenue of $113.22 million for the quarter. Equities research analysts expect that Origin Bancorp, Inc. will post 4.11 EPS for the current year.

Origin Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 13th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Friday, November 13th. Origin Bancorp's payout ratio is presently 26.99%.

Institutional Trading of Origin Bancorp

Several institutional investors have recently made changes to their positions in OBK. BlackRock Inc. purchased a new position in Origin Bancorp during the 2nd quarter valued at approximately $132,196,000. Dimensional Fund Advisors LP raised its holdings in shares of Origin Bancorp by 3.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,425,220 shares of the company's stock worth $59,089,000 after acquiring an additional 49,001 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Origin Bancorp by 1.1% during the 2nd quarter. Wellington Management Group LLP now owns 518,389 shares of the company's stock worth $26,516,000 after acquiring an additional 5,737 shares in the last quarter. Basswood Capital Management L.L.C. bought a new position in shares of Origin Bancorp during the 2nd quarter valued at approximately $21,391,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Origin Bancorp during the 2nd quarter valued at approximately $18,968,000. Hedge funds and other institutional investors own 54.68% of the company's stock.

About Origin Bancorp

Origin Bancorp, Inc is a regional bank holding company headquartered in Ruston, Louisiana. Through its primary subsidiary, Origin Bank, the company provides banking and financial services to businesses, individuals and communities.

Origin Bank offers commercial and small-business lending, consumer loans, residential mortgage lending, deposit accounts, treasury management, cash-management services and wealth-related solutions. Its commercial banking activities include financing for operating needs, real estate and other business purposes, while its consumer offerings include personal deposits and lending products.

The bank serves customers through banking locations and digital channels across Louisiana, Texas and Mississippi.

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