OP Bancorp (NASDAQ:OPBK – Get Free Report) was the target of a significant decline in short interest in August. As of August 31st, there was short interest totalling 22,700 shares, a decline of 39.3% from the August 15th total of 37,400 shares. Based on an average daily volume of 26,900 shares, the days-to-cover ratio is currently 0.8 days. Approximately 0.2% of the company’s stock are sold short.
Institutional Trading of OP Bancorp
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company raised its position in shares of OP Bancorp by 0.8% in the first quarter. The Manufacturers Life Insurance Company now owns 894,574 shares of the company’s stock valued at $12,390,000 after purchasing an additional 6,903 shares during the period. Alliancebernstein L.P. raised its position in shares of OP Bancorp by 1.1% in the fourth quarter. Alliancebernstein L.P. now owns 846,677 shares of the company’s stock valued at $9,449,000 after purchasing an additional 9,045 shares during the period. Wellington Management Group LLP raised its position in shares of OP Bancorp by 24.3% in the first quarter. Wellington Management Group LLP now owns 365,537 shares of the company’s stock valued at $5,063,000 after purchasing an additional 71,449 shares during the period. Dimensional Fund Advisors LP raised its position in shares of OP Bancorp by 4.5% in the second quarter. Dimensional Fund Advisors LP now owns 324,558 shares of the company’s stock valued at $2,736,000 after purchasing an additional 14,038 shares during the period. Finally, Millennium Management LLC raised its position in shares of OP Bancorp by 8.3% in the second quarter. Millennium Management LLC now owns 214,958 shares of the company’s stock valued at $2,255,000 after purchasing an additional 16,544 shares during the period. 45.17% of the stock is owned by institutional investors.
OP Bancorp Stock Performance
Shares of OPBK stock opened at $9.37 on Thursday. The company’s fifty day simple moving average is $9.48 and its 200-day simple moving average is $9.08. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.41. The firm has a market cap of $141.76 million, a PE ratio of 4.85 and a beta of 0.61. OP Bancorp has a 12 month low of $7.50 and a 12 month high of $12.00.
OP Bancorp (NASDAQ:OPBK – Get Free Report) last posted its quarterly earnings results on Thursday, July 27th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.01. OP Bancorp had a net margin of 24.29% and a return on equity of 16.96%. The firm had revenue of $20.86 million for the quarter. Equities research analysts expect that OP Bancorp will post 1.6 EPS for the current fiscal year.
OP Bancorp Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, August 24th. Shareholders of record on Thursday, August 10th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 5.12%. The ex-dividend date of this dividend was Wednesday, August 9th. OP Bancorp’s dividend payout ratio (DPR) is currently 24.87%.
About OP Bancorp
OP Bancorp operates as the bank holding company for Open Bank that provides banking products and services in California. It offers demand, checking, savings, money market, and time deposit accounts, as well as certificates of deposit. The company also provides commercial real estate, small business administration, commercial and industrial business, single-family residential, term, consumer, and home mortgage loans; trade financing products; and letters of credit, and SWIFT and export advice.
