Bridgeway Capital Management LLC Increases Stake in Origin Bancorp, Inc. $OBK

Key Points

• Bridgeway Capital Management LLC increased its stake in Origin Bancorp by 15.0%, acquiring an additional 22,963 shares to now hold 175,974 shares valued at approximately $6.1 million.
• Several hedge funds have made significant investments in Origin Bancorp, with 54.68% of the stock now owned by institutional investors.
• Analysts have collectively rated Origin Bancorp as a "Buy" with a consensus price target of $43.20, reflecting confidence in the company's growth potential.

Bridgeway Capital Management LLC raised its stake in shares of Origin Bancorp, Inc. (NASDAQ:OBK - Free Report) by 15.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 175,974 shares of the company's stock after purchasing an additional 22,963 shares during the quarter. Bridgeway Capital Management LLC owned 0.56% of Origin Bancorp worth $6,101,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in OBK. Hotchkis & Wiley Capital Management LLC bought a new stake in shares of Origin Bancorp during the 1st quarter valued at $8,637,000. Nuveen LLC bought a new stake in shares of Origin Bancorp during the 1st quarter valued at $4,357,000. Deprince Race & Zollo Inc. bought a new stake in shares of Origin Bancorp during the 4th quarter valued at $3,836,000. Argent Advisors Inc. boosted its holdings in shares of Origin Bancorp by 870.3% during the 1st quarter. Argent Advisors Inc. now owns 109,767 shares of the company's stock valued at $3,806,000 after buying an additional 98,454 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in Origin Bancorp by 12.3% in the 1st quarter. American Century Companies Inc. now owns 674,593 shares of the company's stock worth $23,388,000 after purchasing an additional 73,668 shares in the last quarter. 54.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on OBK. Keefe, Bruyette & Woods upped their price target on shares of Origin Bancorp from $41.00 to $45.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. DA Davidson boosted their target price on Origin Bancorp from $41.00 to $45.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Five analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $43.20.

Origin Bancorp Price Performance

Shares of NASDAQ OBK traded up $0.33 during midday trading on Wednesday, reaching $38.27. 12,784 shares of the stock traded hands, compared to its average volume of 146,394. The company's 50 day moving average is $37.52 and its 200 day moving average is $35.21. Origin Bancorp, Inc. has a one year low of $28.80 and a one year high of $41.17. The stock has a market capitalization of $1.19 billion, a PE ratio of 15.56 and a beta of 0.84. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.97 and a quick ratio of 0.97.

Origin Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were paid a dividend of $0.15 per share. The ex-dividend date was Friday, August 15th. This represents a $0.60 annualized dividend and a dividend yield of 1.6%. Origin Bancorp's dividend payout ratio (DPR) is currently 26.79%.

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.