Origin Bancorp (NASDAQ:OBK) Reaches New 1-Year High - Here's Why

Shares of Origin Bancorp, Inc. (NASDAQ:OBK - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $39.51 and last traded at $38.98, with a volume of 85273 shares trading hands. The stock had previously closed at $38.94.

Wall Street Analysts Forecast Growth

OBK has been the subject of a number of analyst reports. Stephens restated an "overweight" rating and set a $42.00 target price on shares of Origin Bancorp in a report on Thursday, January 23rd. Raymond James reaffirmed a "strong-buy" rating and set a $44.00 price objective (up previously from $40.00) on shares of Origin Bancorp in a research report on Friday, January 24th. Piper Sandler lifted their target price on Origin Bancorp from $35.00 to $42.00 and gave the company a "neutral" rating in a research note on Friday, January 24th. Keefe, Bruyette & Woods reissued an "outperform" rating and set a $45.00 price target (up from $42.00) on shares of Origin Bancorp in a research report on Wednesday, January 29th. Finally, DA Davidson lifted their price objective 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. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Origin Bancorp presently has an average rating of "Buy" and a consensus price target of $43.40.

Origin Bancorp Stock Performance

The firm has a market cap of $1.24 billion, a price-to-earnings ratio of 16.23 and a beta of 1.00. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a fifty day simple moving average of $35.41 and a two-hundred day simple moving average of $33.57.

Origin Bancorp Dividend Announcement

The business also recently announced 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 yield of 1.50%. The ex-dividend date of this dividend is Friday, February 14th. Origin Bancorp's dividend payout ratio is presently 24.39%.

Hedge Funds Weigh In On Origin Bancorp

Hedge funds have recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in Origin Bancorp in the 4th quarter worth approximately $807,000. Victory Capital Management Inc. increased its stake in shares of Origin Bancorp by 6.6% in the fourth quarter. Victory Capital Management Inc. now owns 41,369 shares of the company's stock worth $1,377,000 after acquiring an additional 2,569 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Origin Bancorp by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 243,484 shares of the company's stock worth $8,106,000 after purchasing an additional 4,823 shares during the last quarter. US Bancorp DE lifted its position in Origin Bancorp by 12.4% during the fourth quarter. US Bancorp DE now owns 6,683 shares of the company's stock valued at $222,000 after purchasing an additional 736 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Origin Bancorp by 156.7% in the fourth quarter. Bank of New York Mellon Corp now owns 319,919 shares of the company's stock valued at $10,650,000 after purchasing an additional 195,293 shares during the last quarter. 54.68% of the stock is owned by institutional investors and hedge funds.

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.