Origin Bancorp (NASDAQ:OBK) Reaches New 12-Month High – What’s Next?

Origin Bancorp, Inc. (NASDAQ:OBK) shares reached a new 52-week high on Friday . The company traded as high as $38.35 and last traded at $38.57, with a volume of 67931 shares traded. The stock had previously closed at $37.06.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on OBK shares. DA Davidson dropped their price target on shares of Origin Bancorp from $41.00 to $38.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Stephens reissued an “overweight” rating and issued a $42.00 target price on shares of Origin Bancorp in a report on Thursday. Keefe, Bruyette & Woods boosted their target price on shares of Origin Bancorp from $37.00 to $42.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Finally, Raymond James raised shares of Origin Bancorp from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, December 19th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Origin Bancorp presently has a consensus rating of “Buy” and an average target price of $37.60.

Origin Bancorp Price Performance

The firm’s fifty day moving average price is $34.44 and its 200 day moving average price is $33.22. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.17. The stock has a market cap of $1.19 billion, a PE ratio of 15.66 and a beta of 1.00.

Origin Bancorp (NASDAQ:OBK) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.06). The business had revenue of $160.25 million for the quarter, compared to analysts’ expectations of $93.40 million. Origin Bancorp had a net margin of 12.34% and a return on equity of 6.91%. During the same period in the previous year, the company earned $0.71 EPS. As a group, equities analysts expect that Origin Bancorp, Inc. will post 2.43 EPS for the current fiscal year.

Origin Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors 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 1.57%. The ex-dividend date of this dividend is Friday, February 14th. Origin Bancorp’s payout ratio is 24.39%.

Institutional Investors Weigh In On Origin Bancorp

A number of hedge funds have recently bought and sold shares of OBK. Envestnet Asset Management Inc. raised its stake in shares of Origin Bancorp by 19.6% in the second quarter. Envestnet Asset Management Inc. now owns 60,044 shares of the company’s stock valued at $1,905,000 after acquiring an additional 9,851 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Origin Bancorp by 11.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,023,197 shares of the company’s stock valued at $32,454,000 after acquiring an additional 102,159 shares during the period. Hsbc Holdings PLC raised its stake in shares of Origin Bancorp by 20.2% in the second quarter. Hsbc Holdings PLC now owns 16,007 shares of the company’s stock valued at $503,000 after acquiring an additional 2,692 shares during the period. Cubist Systematic Strategies LLC raised its stake in shares of Origin Bancorp by 120.1% in the second quarter. Cubist Systematic Strategies LLC now owns 25,650 shares of the company’s stock valued at $814,000 after acquiring an additional 13,996 shares during the period. Finally, AQR Capital Management LLC raised its stake in shares of Origin Bancorp by 72.7% in the second quarter. AQR Capital Management LLC now owns 22,392 shares of the company’s stock valued at $710,000 after acquiring an additional 9,425 shares during the period. Hedge funds and other institutional investors 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.