Origin Bancorp (NYSE:OBK) Hits New 12-Month High – Here’s What Happened

Origin Bancorp, Inc. (NYSE:OBK)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $50.35 and last traded at $50.35, with a volume of 48281 shares changing hands. The stock had previously closed at $49.54.

Wall Street Analysts Forecast Growth

Several research firms have commented on OBK. Stephens lifted their price objective on shares of Origin Bancorp from $49.00 to $54.00 and gave the stock an “overweight” rating in a research note on Friday, April 24th. Weiss Ratings raised shares of Origin Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, April 27th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $48.50.

Origin Bancorp Stock Up 0.2%

The firm has a market cap of $1.59 billion, a PE ratio of 19.92 and a beta of 0.73. The company has a 50-day simple moving average of $47.35 and a 200-day simple moving average of $43.31. 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) last issued 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 business had revenue of $104.04 million during the quarter. Analysts expect that Origin Bancorp, Inc. will post 4.01 earnings per share for the current fiscal year.

Origin Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were paid a $0.25 dividend. The ex-dividend date was Friday, May 15th. This is a positive change from Origin Bancorp’s previous quarterly dividend of $0.15. This represents a $1.00 dividend on an annualized basis and a yield of 1.9%. Origin Bancorp’s payout ratio is 38.76%.

Institutional Trading of Origin Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in the business. Summit Financial Wealth Advisors LLC grew its holdings in shares of Origin Bancorp by 5.3% in the first quarter. Summit Financial Wealth Advisors LLC now owns 13,917 shares of the company’s stock worth $577,000 after purchasing an additional 700 shares during the last quarter. Bank of America Corp DE lifted its holdings 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 valued at $3,090,000 after buying an additional 31,005 shares in the last quarter. Royal Bank of Canada boosted its position in 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. Empowered Funds LLC boosted its position in 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. Finally, Quantinno Capital Management LP bought a new position in Origin Bancorp in the 1st quarter worth about $280,000. 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.