Mendon Capital Advisors Corp Acquires 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 increased its holdings in Origin Bancorp, Inc. (NASDAQ:OBK - Free Report) by 5.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 210,000 shares of the company's stock after buying an additional 10,000 shares during the quarter. Origin Bancorp accounts for about 3.6% of Mendon Capital Advisors Corp's investment portfolio, making the stock its 10th largest position. Mendon Capital Advisors Corp owned approximately 0.67% of Origin Bancorp worth $7,281,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its position in shares of Origin Bancorp by 118.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,930 shares of the company's stock worth $697,000 after purchasing an additional 11,328 shares during the period. Northern Trust Corp increased its position in Origin Bancorp by 7.3% in the fourth quarter. Northern Trust Corp now owns 274,489 shares of the company's stock worth $9,138,000 after purchasing an additional 18,654 shares during the last quarter. Comerica Bank increased its position in Origin Bancorp by 13.0% during the fourth quarter. Comerica Bank now owns 3,008 shares of the company's stock valued at $100,000 after acquiring an additional 347 shares during the last quarter. Jane Street Group LLC increased its position in Origin Bancorp by 118.5% during the fourth quarter. Jane Street Group LLC now owns 59,614 shares of the company's stock valued at $1,985,000 after acquiring an additional 32,326 shares during the last quarter. Finally, Bank of America Corp DE increased its position in Origin Bancorp by 14.6% during the fourth quarter. Bank of America Corp DE now owns 51,040 shares of the company's stock valued at $1,699,000 after acquiring an additional 6,486 shares during the last quarter. Hedge funds and other institutional investors own 54.68% of the company's stock.

Origin Bancorp Stock Up 0.1%

Shares of OBK traded up $0.03 during mid-day trading on Friday, hitting $35.39. 334,894 shares of the company traded hands, compared to its average volume of 151,898. Origin Bancorp, Inc. has a 1-year low of $28.80 and a 1-year high of $41.17. 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 $1.11 billion, a PE ratio of 14.39 and a beta of 0.85. The business has a 50 day moving average of $37.42 and a 200 day moving average of $35.16.

Origin Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were issued 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 1.7%. Origin Bancorp's dividend payout ratio is 26.79%.

Wall Street Analysts Forecast Growth

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

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.