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

Origin Bancorp, Inc. (NASDAQ:OBK)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $41.17 and last traded at $39.70, with a volume of 113483 shares traded. The stock had previously closed at $40.75.

Analyst Ratings Changes

OBK has been the topic of several recent research reports. DA Davidson boosted their price objective on shares of Origin Bancorp from $41.00 to $44.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $45.00 target price (up from $42.00) on shares of Origin Bancorp in a report on Wednesday, January 29th. Piper Sandler upped their target price 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. Stephens restated an “overweight” rating and issued a $42.00 target price on shares of Origin Bancorp in a report on Thursday, January 23rd. Finally, Raymond James restated 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $43.40.

Origin Bancorp Stock Performance

The stock’s 50 day moving average price is $35.89 and its 200 day moving average price is $33.75. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.17. The company has a market cap of $1.25 billion, a price-to-earnings ratio of 16.29 and a beta of 1.00.

Origin Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders 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 dividend yield of 1.50%. The ex-dividend date is Friday, February 14th. Origin Bancorp’s dividend payout ratio is currently 24.39%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. increased its stake in shares of Origin Bancorp by 80.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 72,986 shares of the company’s stock valued at $2,347,000 after acquiring an additional 32,619 shares during the last quarter. Barclays PLC increased its position in Origin Bancorp by 79.9% during the 3rd quarter. Barclays PLC now owns 78,187 shares of the company’s stock worth $2,515,000 after purchasing an additional 34,733 shares in the last quarter. State Street Corp increased its position in Origin Bancorp by 2.0% during the 3rd quarter. State Street Corp now owns 844,151 shares of the company’s stock worth $27,148,000 after purchasing an additional 16,309 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in Origin Bancorp during the 4th quarter worth approximately $219,000. Finally, Geode Capital Management LLC increased its position in Origin Bancorp by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 673,189 shares of the company’s stock worth $21,654,000 after purchasing an additional 9,435 shares in the last quarter. Institutional investors and hedge funds own 54.68% of the company’s stock.

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.