Origin Bancorp (NASDAQ:OBK) Hits New 12-Month High - Still a Buy?

Origin Bancorp, Inc. (NASDAQ:OBK - Get Free Report) hit a new 52-week high on Tuesday . The stock traded as high as $40.30 and last traded at $40.37, with a volume of 18020 shares changing hands. The stock had previously closed at $39.72.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on OBK. Piper Sandler increased their price objective on shares of Origin Bancorp from $35.00 to $42.00 and gave the company a "neutral" rating in a report on Friday, January 24th. DA Davidson increased their price objective on shares of Origin Bancorp from $41.00 to $44.00 and gave the company a "buy" rating in a report on Monday, January 27th. Stephens restated an "overweight" rating and issued a $42.00 price objective on shares of Origin Bancorp in a report on Thursday, January 23rd. 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. Finally, 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. One 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. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $43.40.

Origin Bancorp Trading Down 1.5 %

The company's fifty day simple moving average is $35.82 and its two-hundred day simple moving average is $33.72. 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 company has a market capitalization of $1.25 billion, a price-to-earnings ratio of 16.32 and a beta of 1.00.

Origin Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a dividend of $0.15 per share. The ex-dividend date is Friday, February 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.49%. Origin Bancorp's payout ratio is 24.39%.

Institutional Investors Weigh In On Origin Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in OBK. Rhino Investment Partners Inc acquired a new stake in shares of Origin Bancorp during the fourth quarter worth $15,077,000. Bank of New York Mellon Corp raised its holdings in shares of Origin Bancorp by 156.7% during the fourth quarter. Bank of New York Mellon Corp now owns 319,919 shares of the company's stock worth $10,650,000 after acquiring an additional 195,293 shares during the period. Wellington Management Group LLP acquired a new stake in shares of Origin Bancorp during the third quarter worth $4,187,000. Tributary Capital Management LLC raised its holdings in shares of Origin Bancorp by 31.8% during the fourth quarter. Tributary Capital Management LLC now owns 456,480 shares of the company's stock worth $15,196,000 after acquiring an additional 110,056 shares during the period. Finally, Russell Investments Group Ltd. raised its holdings in shares of Origin Bancorp by 67.7% during the fourth quarter. Russell Investments Group Ltd. now owns 171,505 shares of the company's stock worth $5,709,000 after acquiring an additional 69,241 shares during the period. 54.68% of the stock is currently owned by institutional investors and hedge funds.

Origin Bancorp Company Profile

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.