Origin Bancorp (NASDAQ:OBK) Sets New 12-Month High – Here’s Why

Origin Bancorp, Inc. (NASDAQ:OBK) hit a new 52-week high on Wednesday . The stock traded as high as $39.51 and last traded at $38.98, with a volume of 85273 shares. The stock had previously closed at $38.94.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on OBK shares. DA Davidson increased their target price on Origin Bancorp from $41.00 to $44.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Piper Sandler raised their target price on Origin Bancorp from $35.00 to $42.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Stephens reaffirmed an “overweight” rating and set a $42.00 price target on shares of Origin Bancorp in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $45.00 price objective (up previously from $42.00) on shares of Origin Bancorp in a report on Wednesday, January 29th. Finally, Raymond James reaffirmed a “strong-buy” rating and issued a $44.00 target price (up from $40.00) on shares of Origin Bancorp in a report on Friday, January 24th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Origin Bancorp has a consensus rating of “Buy” and an average price target of $43.40.

Origin Bancorp Stock Up 1.2 %

The firm has a market cap of $1.23 billion, a price-to-earnings ratio of 16.02 and a beta of 1.00. The firm has a fifty day moving average price of $35.09 and a 200-day moving average price of $33.48. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.17.

Origin Bancorp Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.60 annualized dividend and a yield of 1.52%. Origin Bancorp’s payout ratio is 24.39%.

Institutional Investors Weigh In On Origin Bancorp

Large investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company increased its holdings in Origin Bancorp by 5.5% in the second quarter. The Manufacturers Life Insurance Company now owns 11,419 shares of the company’s stock valued at $362,000 after buying an additional 599 shares during the last quarter. Fisher Asset Management LLC increased its holdings in shares of Origin Bancorp by 1.5% in the 3rd quarter. Fisher Asset Management LLC now owns 40,329 shares of the company’s stock valued at $1,297,000 after acquiring an additional 612 shares during the last quarter. US Bancorp DE lifted its stake in Origin Bancorp by 12.4% during the fourth quarter. US Bancorp DE now owns 6,683 shares of the company’s stock worth $222,000 after purchasing an additional 736 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Origin Bancorp in the third quarter worth $30,000. Finally, Harbor Capital Advisors Inc. increased its stake in Origin Bancorp by 12.3% during the third quarter. Harbor Capital Advisors Inc. now owns 8,889 shares of the company’s stock valued at $286,000 after purchasing an additional 977 shares during the last quarter. 54.68% of the stock is owned by institutional investors and hedge funds.

Origin Bancorp Company Profile

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.