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

Origin Bancorp, Inc. (NASDAQ:OBK - Get Free Report)'s stock price reached a new 52-week high on Tuesday . The stock traded as high as $41.17 and last traded at $39.70, with a volume of 113483 shares trading hands. The stock had previously closed at $40.75.

Wall Street Analyst Weigh In

OBK has been the topic of a number of recent research reports. Piper Sandler lifted their price target on Origin Bancorp from $35.00 to $42.00 and gave the company a "neutral" rating in a research note on Friday, January 24th. DA Davidson raised their price objective on Origin Bancorp from $41.00 to $44.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. Keefe, Bruyette & Woods reiterated an "outperform" rating and issued a $45.00 target price (up from $42.00) on shares of Origin Bancorp in a report on Wednesday, January 29th. Stephens reiterated an "overweight" rating and issued a $42.00 target price on shares of Origin Bancorp in a report on Thursday, January 23rd. Finally, Raymond James reiterated a "strong-buy" rating and issued a $44.00 target price (up from $40.00) on shares of Origin Bancorp in a report on Friday, January 24th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Origin Bancorp presently has a consensus rating of "Buy" and a consensus price target of $43.40.

Origin Bancorp Price Performance

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 has a market cap of $1.20 billion, a P/E ratio of 15.60 and a beta of 1.00. The firm has a 50 day moving average price of $36.14 and a two-hundred day moving average price of $33.93.

Origin Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a dividend of $0.15 per share. The ex-dividend date is Friday, February 14th. This represents a $0.60 annualized dividend and a dividend yield of 1.56%. Origin Bancorp's payout ratio is 24.39%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Origin Bancorp during the 3rd quarter worth $30,000. Sterling Capital Management LLC grew its stake in shares of Origin Bancorp by 812.6% during the 4th quarter. Sterling Capital Management LLC now owns 940 shares of the company's stock worth $31,000 after acquiring an additional 837 shares during the period. Brooklyn Investment Group purchased a new stake in Origin Bancorp during the 4th quarter worth about $48,000. Quantbot Technologies LP lifted its holdings in Origin Bancorp by 78.1% during the 3rd quarter. Quantbot Technologies LP now owns 2,706 shares of the company's stock worth $87,000 after purchasing an additional 1,187 shares in the last quarter. Finally, Comerica Bank lifted its holdings in Origin Bancorp by 13.0% during the 4th quarter. Comerica Bank now owns 3,008 shares of the company's stock worth $100,000 after purchasing an additional 347 shares in the last quarter. 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.