Mendon Capital Advisors Corp Buys 10,000 Shares of Origin Bancorp, Inc. $OBK

Key Points

• Mendon Capital Advisors Corp increased its stake in Origin Bancorp by 5.0%, acquiring an additional 10,000 shares, bringing its total holdings to 210,000 shares.
• Equities analysts have optimistic outlooks for Origin Bancorp, with price targets raised to $45.00 by firms such as Keefe, Bruyette & Woods, indicating a strong belief in the stock's potential.
• Origin Bancorp recently announced a quarterly dividend of $0.15 per share, representing an annualized yield of 1.6% with a payout ratio of 26.79%.

Mendon Capital Advisors Corp lifted its stake in Origin Bancorp, Inc. (NASDAQ:OBK - Free Report) by 5.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 210,000 shares of the company's stock after purchasing an additional 10,000 shares during the period. Origin Bancorp makes up 3.6% of Mendon Capital Advisors Corp's investment portfolio, making the stock its 10th largest holding. Mendon Capital Advisors Corp owned 0.67% of Origin Bancorp worth $7,281,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. CWM LLC lifted its stake in shares of Origin Bancorp by 44.8% in the first quarter. CWM LLC now owns 1,018 shares of the company's stock valued at $35,000 after purchasing an additional 315 shares during the period. Federated Hermes Inc. acquired a new stake in shares of Origin Bancorp in the first quarter valued at about $40,000. Nisa Investment Advisors LLC increased its holdings in Origin Bancorp by 46.7% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,257 shares of the company's stock valued at $44,000 after acquiring an additional 400 shares in the last quarter. Comerica Bank increased its holdings in Origin Bancorp by 13.0% during the 4th quarter. Comerica Bank now owns 3,008 shares of the company's stock valued at $100,000 after acquiring an additional 347 shares in the last quarter. Finally, GAMMA Investing LLC increased 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 acquiring an additional 4,016 shares in the last quarter. Institutional investors and hedge funds own 54.68% of the company's stock.

Origin Bancorp Trading Down 0.8%

Shares of NASDAQ OBK traded down $0.28 during midday trading on Monday, reaching $35.12. 120,729 shares of the stock were exchanged, compared to its average volume of 151,688. The company has a market capitalization of $1.10 billion, a P/E ratio of 14.25 and a beta of 0.85. Origin Bancorp, Inc. has a 52-week low of $28.80 and a 52-week high of $41.17. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.17. The stock has a 50 day moving average price of $37.42 and a 200-day moving average price of $35.14.

Origin Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were given a $0.15 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.60 annualized dividend and a dividend yield of 1.7%. Origin Bancorp's dividend payout ratio (DPR) is currently 26.79%.

Analyst Ratings Changes

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

Origin Bancorp 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.