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

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on OBK shares. Stephens restated an “overweight” rating and issued a $42.00 price target on shares of Origin Bancorp in a report on Thursday. Raymond James upgraded shares of Origin Bancorp from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, December 19th. DA Davidson dropped their target price on shares of Origin Bancorp from $41.00 to $38.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Finally, Keefe, Bruyette & Woods increased 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. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $37.60.

Origin Bancorp Trading Up 3.4 %

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’s fifty day simple moving average is $34.44 and its 200-day simple moving average is $33.22. The company has a market capitalization of $1.19 billion, a P/E 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 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.06). The firm 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 posted $0.71 earnings per share. Research analysts predict that Origin Bancorp, Inc. will post 2.43 earnings per share for the current year.

Origin Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend is Friday, February 14th. Origin Bancorp’s payout ratio is 24.39%.

Institutional Trading of Origin Bancorp

Several hedge funds have recently modified their holdings of the company. Wellington Management Group LLP purchased a new position in shares of Origin Bancorp in the 3rd quarter valued at approximately $4,187,000. Tributary Capital Management LLC raised its position in shares of Origin Bancorp by 31.8% in the 4th quarter. Tributary Capital Management LLC now owns 456,480 shares of the company’s stock valued at $15,196,000 after purchasing an additional 110,056 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Origin Bancorp by 11.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,023,197 shares of the company’s stock valued at $32,454,000 after purchasing an additional 102,159 shares during the last quarter. Royce & Associates LP raised its position in shares of Origin Bancorp by 7.3% in the 3rd quarter. Royce & Associates LP now owns 961,892 shares of the company’s stock valued at $30,934,000 after purchasing an additional 65,844 shares during the last quarter. Finally, Millennium Management LLC raised its position in shares of Origin Bancorp by 92.3% in the 2nd quarter. Millennium Management LLC now owns 124,521 shares of the company’s stock valued at $3,950,000 after purchasing an additional 59,763 shares during the last quarter. 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.