Hotchkis & Wiley Capital Management LLC Takes Position in Origin Bancorp, Inc. $OBK

Key Points

• Hotchkis & Wiley Capital Management LLC acquired 249,130 shares of Origin Bancorp, Inc. valued at approximately $8.6 million, increasing its stake to 0.80% of the company.
• Origin Bancorp announced a quarterly dividend of $0.15 per share, resulting in an annualized yield of 1.6%, with a payout ratio of 26.79%.
• Wall Street analysts have raised their price targets for Origin Bancorp to $45.00, reflecting a consensus rating of "Buy" for the stock.

Hotchkis & Wiley Capital Management LLC purchased a new position in Origin Bancorp, Inc. (NASDAQ:OBK - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 249,130 shares of the company's stock, valued at approximately $8,637,000. Hotchkis & Wiley Capital Management LLC owned about 0.80% of Origin Bancorp at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CWM LLC increased its stake in Origin Bancorp by 44.8% during the first quarter. CWM LLC now owns 1,018 shares of the company's stock valued at $35,000 after acquiring an additional 315 shares during the period. Federated Hermes Inc. bought a new stake in shares of Origin Bancorp in the 1st quarter valued at approximately $40,000. Nisa Investment Advisors LLC grew its stake in shares of Origin Bancorp by 46.7% in the 1st quarter. Nisa Investment Advisors LLC now owns 1,257 shares of the company's stock valued at $44,000 after purchasing an additional 400 shares during the period. Comerica Bank grew its stake in shares of Origin Bancorp by 13.0% in the 4th quarter. Comerica Bank now owns 3,008 shares of the company's stock valued at $100,000 after purchasing an additional 347 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in Origin Bancorp by 66,933.3% during the 1st quarter. GAMMA Investing LLC now owns 4,022 shares of the company's stock valued at $139,000 after purchasing an additional 4,016 shares during the last quarter. 54.68% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on OBK shares. Keefe, Bruyette & Woods increased their price objective on Origin Bancorp from $41.00 to $45.00 and gave the company an "outperform" rating in a research report on Monday, July 28th. DA Davidson raised their price objective on Origin Bancorp from $41.00 to $45.00 and gave the company a "buy" rating in a report on Monday, July 28th. Five equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Origin Bancorp presently has an average rating of "Buy" and a consensus target price of $43.20.

Origin Bancorp Trading Down 0.1%

Shares of Origin Bancorp stock traded down $0.02 on Friday, reaching $38.89. 48,586 shares of the company's stock were exchanged, compared to its average volume of 148,958. The company has a market capitalization of $1.21 billion, a P/E ratio of 15.81 and a beta of 0.81. Origin Bancorp, Inc. has a 52 week low of $28.80 and a 52 week high of $41.17. The firm's 50-day moving average is $37.03 and its two-hundred day moving average is $35.31. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.97 and a current ratio of 0.97.

Origin Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, August 15th. Origin Bancorp's payout ratio is 26.79%.

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.