Origin Bancorp (NASDAQ:OBK) Reaches New 1-Year High – Time to Buy?

Origin Bancorp, Inc. (NASDAQ:OBK) shares reached 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.

Analysts Set New Price Targets

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

Origin Bancorp Price Performance

The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.97 and a current ratio of 0.97. The business’s 50 day simple moving average is $35.30 and its 200-day simple moving average is $33.57. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of 16.23 and a beta of 1.00.

Origin Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date is Friday, February 14th. Origin Bancorp’s payout ratio is 24.39%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in Origin Bancorp during the 3rd quarter valued at about $30,000. Brooklyn Investment Group acquired a new position in Origin Bancorp during the 4th quarter valued at about $48,000. Quantbot Technologies LP raised its position in shares of Origin Bancorp by 78.1% during the 3rd quarter. Quantbot Technologies LP now owns 2,706 shares of the company’s stock worth $87,000 after buying an additional 1,187 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Origin Bancorp during the 3rd quarter worth about $160,000. Finally, Janney Montgomery Scott LLC bought a new stake in shares of Origin Bancorp during the 4th quarter worth about $219,000. 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.