OP Bancorp (NASDAQ:OPBK) Sees Large Growth in Short Interest

OP Bancorp (NASDAQ:OPBK) was the target of a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 20,100 shares, an increase of 16.9% from the October 15th total of 17,200 shares. Approximately 0.2% of the company’s stock are sold short. Based on an average trading volume of 23,900 shares, the short-interest ratio is currently 0.8 days.

Hedge Funds Weigh In On OP Bancorp

Large investors have recently modified their holdings of the business. Barclays PLC acquired a new position in shares of OP Bancorp during the 3rd quarter worth about $58,000. Ritholtz Wealth Management boosted its holdings in shares of OP Bancorp by 44.9% in the 2nd quarter. Ritholtz Wealth Management now owns 24,014 shares of the company’s stock valued at $230,000 after buying an additional 7,440 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in shares of OP Bancorp by 36.6% in 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 during the last quarter. Empowered Funds LLC boosted its holdings in shares of OP Bancorp by 8.1% in the 1st 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. Finally, Russell Investments Group Ltd. boosted its holdings in shares of OP Bancorp by 13.7% in the 1st 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. 53.63% of the stock is currently owned by institutional investors and hedge funds.

OP Bancorp Stock Down 1.1 %

Shares of OPBK stock traded down $0.19 on Friday, hitting $16.51. 37,377 shares of the stock were exchanged, compared to its average volume of 36,816. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $246.33 million, a P/E ratio of 11.79 and a beta of 0.60. The business has a 50-day moving average of $13.52 and a 200 day moving average of $11.72. OP Bancorp has a fifty-two week low of $8.41 and a fifty-two week high of $18.29.

OP Bancorp (NASDAQ:OPBK) last released its quarterly earnings results on Thursday, October 24th. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. OP Bancorp had a return on equity of 10.94% and a net margin of 14.18%. The firm had revenue of $39.54 million during the quarter. Equities analysts anticipate that OP Bancorp will post 1.46 EPS for the current year.

OP Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend is Thursday, November 7th. OP Bancorp’s payout ratio is 34.29%.

Wall Street Analyst Weigh In

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

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.