Origin Bancorp (NASDAQ:OBK) Hits New 1-Year High at $37.25

Origin Bancorp, Inc. (NASDAQ:OBK) shares hit a new 52-week high on Tuesday . The company traded as high as $37.25 and last traded at $37.23, with a volume of 47280 shares trading hands. The stock had previously closed at $36.31.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Piper Sandler reissued a “neutral” rating and issued a $32.00 price target (up from $30.00) on shares of Origin Bancorp in a research report on Friday, April 26th. Stephens reissued an “overweight” rating and issued a $39.00 price target on shares of Origin Bancorp in a research report on Thursday. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $35.00.

Origin Bancorp Stock Down 4.8 %

The business’s fifty day moving average price is $31.76 and its 200 day moving average price is $31.08. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $1.07 billion, a PE ratio of 13.30 and a beta of 1.00.

Origin Bancorp (NASDAQ:OBK) last announced its earnings results on Wednesday, July 24th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.05. The business had revenue of $164.26 million during the quarter, compared to analysts’ expectations of $90.70 million. Origin Bancorp had a net margin of 13.66% and a return on equity of 8.17%. During the same period in the prior year, the company earned $0.69 earnings per share. On average, equities research analysts forecast that Origin Bancorp, Inc. will post 2.65 earnings per share for the current fiscal year.

Origin Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Thursday, August 15th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $0.60 annualized dividend and a yield of 1.73%. Origin Bancorp’s dividend payout ratio is currently 22.64%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC purchased a new position in Origin Bancorp during the fourth quarter worth about $30,000. First Horizon Advisors Inc. acquired a new position in Origin Bancorp during the fourth quarter worth about $40,000. Public Employees Retirement System of Ohio acquired a new position in Origin Bancorp during the fourth quarter worth about $87,000. Quadrant Capital Group LLC acquired a new position in Origin Bancorp during the fourth quarter worth about $90,000. Finally, Amalgamated Bank acquired a new position in Origin Bancorp during the fourth quarter worth about $91,000. 54.68% of the stock is owned by hedge funds and other institutional investors.

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.