Origin Bancorp (NASDAQ:OBK) Hits New 1-Year High – Should You Buy?

Origin Bancorp, Inc. (NASDAQ:OBK)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company 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

A number of equities analysts have issued reports on the company. Raymond James restated a “strong-buy” rating and set a $44.00 price target (up from $40.00) on shares of Origin Bancorp in a report on Friday, January 24th. Piper Sandler increased their price target on Origin Bancorp from $35.00 to $42.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Keefe, Bruyette & Woods reiterated 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. Stephens reiterated an “overweight” rating and issued a $42.00 target price on shares of Origin Bancorp in a report on Thursday, January 23rd. Finally, DA Davidson increased their target price on Origin Bancorp from $41.00 to $44.00 and gave the stock a “buy” rating in a report on Monday, January 27th. One equities 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. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $43.40.

Origin Bancorp Price Performance

The firm has a market capitalization of $1.23 billion, a PE ratio of 16.04 and a beta of 1.00. The business has a 50-day moving average of $36.08 and a 200 day moving average of $33.90. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.17.

Origin Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date is Friday, February 14th. Origin Bancorp’s payout ratio is currently 24.39%.

Institutional Investors Weigh In On Origin Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the stock. Pitcairn Co. increased its position in shares of Origin Bancorp by 4.2% during the 4th quarter. Pitcairn Co. now owns 8,577 shares of the company’s stock valued at $286,000 after purchasing an additional 343 shares during the last quarter. Comerica Bank increased its position in shares of Origin Bancorp by 13.0% during the 4th quarter. Comerica Bank now owns 3,008 shares of the company’s stock valued at $100,000 after purchasing an additional 347 shares during the last quarter. Mariner LLC increased its position in shares of Origin Bancorp by 5.4% during the 4th quarter. Mariner LLC now owns 6,965 shares of the company’s stock valued at $232,000 after purchasing an additional 356 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of Origin Bancorp by 1.5% during the 3rd quarter. Fisher Asset Management LLC now owns 40,329 shares of the company’s stock valued at $1,297,000 after purchasing an additional 612 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Origin Bancorp by 4.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,685 shares of the company’s stock valued at $555,000 after purchasing an additional 636 shares during the last quarter. 54.68% of the stock is owned by hedge funds and other institutional investors.

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.