Origin Bancorp (NYSE:OBK) Hits New 1-Year High – Here’s What Happened
by Amy Steele · The Cerbat GemOrigin Bancorp, Inc. (NYSE:OBK – Get Free Report)’s stock price hit a new 52-week high during trading on Friday . The company traded as high as $46.79 and last traded at $46.8750, with a volume of 11487 shares trading hands. The stock had previously closed at $46.56.
Analysts Set New Price Targets
A number of research analysts have recently issued reports on OBK shares. Keefe, Bruyette & Woods boosted their price target on shares of Origin Bancorp from $43.00 to $48.00 and gave the stock an “outperform” rating in a research note on Monday, February 2nd. DA Davidson set a $49.00 price target on shares of Origin Bancorp in a research note on Friday, January 30th. Zacks Research upgraded shares of Origin Bancorp from a “strong sell” rating to a “hold” rating in a research note on Monday, January 26th. Weiss Ratings upgraded shares of Origin Bancorp from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, March 2nd. Finally, Stephens boosted their price target on shares of Origin Bancorp from $49.00 to $54.00 and gave the stock an “overweight” rating in a research note on Friday. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.50.
Get Our Latest Report on Origin Bancorp
Origin Bancorp Stock Down 0.7%
The company has a debt-to-equity ratio of 0.03, a current ratio of 0.97 and a quick ratio of 0.97. The firm’s 50-day simple moving average is $42.57 and its two-hundred day simple moving average is $39.43. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of 17.92 and a beta of 0.68.
Origin Bancorp (NYSE:OBK – Get Free Report) last issued its earnings results on Wednesday, April 22nd. The company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.01). Origin Bancorp had a return on equity of 6.58% and a net margin of 13.46%.The company had revenue of $104.04 million for the quarter. Sell-side analysts predict that Origin Bancorp, Inc. will post 3.86 EPS for the current fiscal year.
Origin Bancorp Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 15th will be given a $0.25 dividend. This is a boost from Origin Bancorp’s previous quarterly dividend of $0.15. This represents a $1.00 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Friday, May 15th. Origin Bancorp’s dividend payout ratio (DPR) is currently 25.00%.
Institutional Trading of Origin Bancorp
Several large investors have recently modified their holdings of OBK. Tributary Capital Management LLC grew its position in shares of Origin Bancorp by 92.5% in the third quarter. Tributary Capital Management LLC now owns 790,234 shares of the company’s stock valued at $27,279,000 after purchasing an additional 379,716 shares during the last quarter. Millennium Management LLC grew its position in shares of Origin Bancorp by 438.9% in the third quarter. Millennium Management LLC now owns 301,217 shares of the company’s stock valued at $10,398,000 after purchasing an additional 245,320 shares during the last quarter. Algebris UK Ltd. acquired a new stake in shares of Origin Bancorp in the fourth quarter valued at approximately $6,925,000. Endeavour Capital Advisors Inc. grew its position in shares of Origin Bancorp by 2,277.7% in the third quarter. Endeavour Capital Advisors Inc. now owns 191,496 shares of the company’s stock valued at $6,610,000 after purchasing an additional 183,442 shares during the last quarter. Finally, Nuveen LLC grew its position in shares of Origin Bancorp by 139.2% in the fourth quarter. Nuveen LLC now owns 275,721 shares of the company’s stock valued at $10,370,000 after purchasing an additional 160,469 shares during the last quarter. 54.68% of the stock is currently owned by institutional investors and hedge funds.
Origin Bancorp Company Profile
Origin Bancorp, Inc (NYSE: OBK) is a bank holding company based in Atlanta, Georgia, and is the parent of Origin Bank, a full-service commercial banking franchise. The company provides a broad range of financial products and services to individuals, small and middle-market businesses, and institutional clients across the southeastern United States.
Through Origin Bank, the company offers a variety of deposit products, including checking and savings accounts, money market accounts, and certificates of deposit.