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

Origin Bancorp, Inc. (NASDAQ:OBK) shares 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. The stock had previously closed at $40.75.

Analysts Set New Price Targets

OBK has been the subject of a number of research analyst reports. DA Davidson increased their target price 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. Piper Sandler increased their target price on shares of Origin Bancorp from $35.00 to $42.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $45.00 price objective (up previously from $42.00) on shares of Origin Bancorp in a research report on Wednesday, January 29th. Stephens reaffirmed an “overweight” rating and issued a $42.00 price objective on shares of Origin Bancorp in a research report on Thursday, January 23rd. Finally, Raymond James reaffirmed a “strong-buy” rating and issued a $44.00 price objective (up previously from $40.00) on shares of Origin Bancorp in a research report on Friday, January 24th. One equities research 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. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $43.40.

Origin Bancorp Stock Performance

The company has a market capitalization of $1.25 billion, a PE ratio of 16.29 and a beta of 1.00. 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 company has a 50 day moving average price of $35.89 and a 200 day moving average price of $33.75.

Origin Bancorp Announces Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend is Friday, February 14th. Origin Bancorp’s dividend payout ratio (DPR) is currently 24.39%.

Hedge Funds Weigh In On Origin Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in OBK. Point72 Asia Singapore Pte. Ltd. bought a new position in Origin Bancorp during the third quarter worth $30,000. Sterling Capital Management LLC increased its position in Origin Bancorp by 812.6% in the fourth quarter. Sterling Capital Management LLC now owns 940 shares of the company’s stock worth $31,000 after buying an additional 837 shares during the period. Brooklyn Investment Group acquired a new stake in Origin Bancorp in the fourth quarter worth $48,000. Quantbot Technologies LP increased its position in Origin Bancorp by 78.1% in the third quarter. Quantbot Technologies LP now owns 2,706 shares of the company’s stock worth $87,000 after buying an additional 1,187 shares during the period. Finally, Comerica Bank increased its position in Origin Bancorp by 13.0% in the fourth quarter. Comerica Bank now owns 3,008 shares of the company’s stock worth $100,000 after buying an additional 347 shares during the period. 54.68% of the stock is currently 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.