Origin Bancorp (NASDAQ:OBK) Reaches New 1-Year High on Analyst Upgrade

Shares of Origin Bancorp, Inc. (NASDAQ:OBK) reached a new 52-week high on Friday after Piper Sandler raised their price target on the stock from $35.00 to $42.00. Piper Sandler currently has a neutral rating on the stock. Origin Bancorp traded as high as $38.35 and last traded at $38.57, with a volume of 67931 shares traded. The stock had previously closed at $37.06.

A number of other brokerages also recently weighed in on OBK. Raymond James raised shares of Origin Bancorp from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, December 19th. Stephens restated an “overweight” rating and issued a $42.00 price target on shares of Origin Bancorp in a research note on Thursday. Keefe, Bruyette & Woods boosted their price objective on Origin Bancorp from $37.00 to $42.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Finally, DA Davidson cut their target price on shares of Origin Bancorp from $41.00 to $38.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Origin Bancorp has an average rating of “Buy” and a consensus price target of $41.60.

Institutional Trading of Origin Bancorp

Hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its holdings in Origin Bancorp by 80.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 72,986 shares of the company’s stock worth $2,347,000 after purchasing an additional 32,619 shares in the last quarter. Barclays PLC increased its holdings in shares of Origin Bancorp by 79.9% in the 3rd quarter. Barclays PLC now owns 78,187 shares of the company’s stock worth $2,515,000 after buying an additional 34,733 shares during the last quarter. State Street Corp increased its stake in Origin Bancorp by 2.0% in the third quarter. State Street Corp now owns 844,151 shares of the company’s stock valued at $27,148,000 after acquiring an additional 16,309 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Origin Bancorp by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 673,189 shares of the company’s stock valued at $21,654,000 after buying an additional 9,435 shares in the last quarter. Finally, International Assets Investment Management LLC raised its position in Origin Bancorp by 3,116.0% in the 3rd quarter. International Assets Investment Management LLC now owns 24,281 shares of the company’s stock worth $755,000 after purchasing an additional 23,526 shares during the period. Institutional investors own 54.68% of the company’s stock.

Origin Bancorp Stock Performance

The company has a fifty day moving average price of $34.54 and a 200 day moving average price of $33.30. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.17. The stock has a market cap of $1.18 billion, a PE ratio of 15.34 and a beta of 1.00.

Origin Bancorp (NASDAQ:OBK) last posted its earnings results on Wednesday, October 23rd. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.06). Origin Bancorp had a net margin of 12.34% and a return on equity of 6.91%. The business had revenue of $160.25 million for the quarter, compared to analysts’ expectations of $93.40 million. During the same period last year, the firm posted $0.71 earnings per share. Analysts expect that Origin Bancorp, Inc. will post 2.43 earnings per share for the current year.

Origin Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.59%. The ex-dividend date is Friday, February 14th. Origin Bancorp’s dividend payout ratio is currently 24.39%.

About Origin Bancorp

Origin Bancorp, Inc operates as a bank holding company for Origin Bank that provides banking and financial services to small and medium-sized businesses, municipalities, and retail clients in Texas, Louisiana, and Mississippi. It offers noninterest and interest-bearing checking accounts, savings deposits, money market accounts, and time deposits; and offers commercial real estate, construction and land development, consumer, residential real estate, commercial and industrial, mortgage warehouse, and residential mortgage loans.