OP Bancorp (NASDAQ:OPBK) Short Interest Down 23.9% in September

OP Bancorp (NASDAQ:OPBK) saw a large decrease in short interest in the month of September. As of September 30th, there was short interest totalling 11,800 shares, a decrease of 23.9% from the September 15th total of 15,500 shares. Based on an average trading volume of 29,400 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.1% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $13.00 target price on shares of OP Bancorp in a research note on Monday, August 26th.

OP Bancorp Trading Up 0.8 %

Shares of OP Bancorp stock traded up $0.11 during midday trading on Tuesday, reaching $13.23. 21,498 shares of the company’s stock traded hands, compared to its average volume of 27,683. The stock has a 50 day moving average of $12.42 and a 200-day moving average of $10.83. OP Bancorp has a 12 month low of $8.23 and a 12 month high of $13.37. The company has a market cap of $197.39 million, a PE ratio of 9.55 and a beta of 0.63. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.01 and a current ratio of 1.02.

OP Bancorp (NASDAQ:OPBK) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.30 by $0.06. OP Bancorp had a net margin of 14.52% and a return on equity of 10.92%. The business had revenue of $38.54 million during the quarter. As a group, equities analysts expect that OP Bancorp will post 1.38 EPS for the current fiscal year.

OP Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $0.48 annualized dividend and a yield of 3.63%. OP Bancorp’s payout ratio is 34.29%.

Insider Activity at OP Bancorp

In other news, insider Ki Won Yoon sold 5,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $12.18, for a total transaction of $60,900.00. Following the completion of the sale, the insider now owns 47,137 shares of the company’s stock, valued at approximately $574,128.66. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 21.34% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Ritholtz Wealth Management lifted its position in OP Bancorp by 44.9% during the 2nd quarter. Ritholtz Wealth Management now owns 24,014 shares of the company’s stock valued at $230,000 after acquiring an additional 7,440 shares during the period. O Shaughnessy Asset Management LLC increased its position in OP Bancorp by 36.6% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 40,486 shares of the company’s stock valued at $404,000 after buying an additional 10,854 shares in the last quarter. Empowered Funds LLC raised its stake in OP Bancorp by 8.1% during the first quarter. Empowered Funds LLC now owns 44,348 shares of the company’s stock valued at $443,000 after buying an additional 3,325 shares during the last quarter. Russell Investments Group Ltd. raised its stake in OP Bancorp by 13.7% during the first quarter. Russell Investments Group Ltd. now owns 48,924 shares of the company’s stock valued at $488,000 after buying an additional 5,896 shares during the last quarter. Finally, ClariVest Asset Management LLC grew its stake in shares of OP Bancorp by 2.9% in the second quarter. ClariVest Asset Management LLC now owns 90,509 shares of the company’s stock worth $868,000 after acquiring an additional 2,528 shares during the last quarter. Institutional investors own 53.63% of the company’s stock.

OP Bancorp Company Profile

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.