Origin Bancorp (NYSE:OBK) Reaches New 1-Year High Following Earnings Beat

Origin Bancorp, Inc. (NYSE:OBK) reached a new 52-week high on Thursday following a stronger than expected earnings report. The stock traded as high as $43.24 and last traded at $41.85, with a volume of 80268 shares changing hands. The stock had previously closed at $40.73.

The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.07. The business had revenue of $94.00 million for the quarter. Origin Bancorp had a net margin of 12.58% and a return on equity of 6.27%.

Origin Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.4%. The ex-dividend date is Friday, February 13th. Origin Bancorp’s payout ratio is presently 25.00%.

Analyst Upgrades and Downgrades

OBK has been the topic of several research reports. Zacks Research upgraded Origin Bancorp from a “strong sell” rating to a “hold” rating in a research report on Monday, January 26th. Piper Sandler raised their price objective on Origin Bancorp from $42.00 to $43.00 and gave the company an “overweight” rating in a report on Monday, October 27th. DA Davidson set a $49.00 target price on shares of Origin Bancorp in a research note on Friday. Weiss Ratings reiterated a “hold (c)” rating on shares of Origin Bancorp in a research report on Thursday, January 22nd. Finally, Wall Street Zen raised shares of Origin Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $44.20.

Insider Activity

In related news, Director Cecil W. Jones purchased 8,500 shares of Origin Bancorp stock in a transaction dated Tuesday, November 4th. The shares were acquired at an average price of $34.71 per share, for a total transaction of $295,035.00. Following the acquisition, the director directly owned 12,709 shares in the company, valued at approximately $441,129.39. The trade was a 201.95% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.39% of the stock is owned by company insiders.

Institutional Investors Weigh In On Origin Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of OBK. Vanguard Group Inc. raised its stake in Origin Bancorp by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 1,753,530 shares of the company’s stock worth $65,950,000 after purchasing an additional 37,050 shares during the period. Harbor Capital Advisors Inc. increased its holdings in shares of Origin Bancorp by 5.2% during the 4th quarter. Harbor Capital Advisors Inc. now owns 11,741 shares of the company’s stock worth $442,000 after buying an additional 579 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Origin Bancorp by 9.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 14,652 shares of the company’s stock valued at $551,000 after buying an additional 1,282 shares during the period. JPMorgan Chase & Co. lifted its holdings in Origin Bancorp by 15.5% in the third quarter. JPMorgan Chase & Co. now owns 185,941 shares of the company’s stock valued at $6,419,000 after acquiring an additional 24,949 shares during the last quarter. Finally, Tudor Investment Corp ET AL acquired a new position in Origin Bancorp in the third quarter valued at approximately $2,964,000. 54.68% of the stock is currently owned by institutional investors and hedge funds.

Origin Bancorp Stock Up 0.6%

The business has a 50-day moving average of $38.87. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a market cap of $1.33 billion, a P/E ratio of 17.85 and a beta of 0.74.

About Origin Bancorp

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.