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

OP Bancorp (NASDAQ:OPBK) was the recipient of a significant growth in short interest in September. As of September 15th, there was short interest totalling 15,500 shares, a growth of 26.0% from the August 31st total of 12,300 shares. Approximately 0.1% of the shares of the stock are short sold. Based on an average trading volume of 29,600 shares, the days-to-cover ratio is presently 0.5 days.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In related news, insider Ki Won Yoon sold 5,000 shares of the stock in a transaction dated Wednesday, August 14th. The shares were 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 in the company, valued at approximately $574,128.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 21.34% of the company’s stock.

Institutional Investors Weigh In On OP Bancorp

A number of institutional investors have recently made changes to their positions in the stock. Diversify Advisory Services LLC acquired a new position in shares of OP Bancorp during the 1st quarter worth about $7,353,000. Empowered Funds LLC increased its stake in OP Bancorp by 8.1% in the first quarter. Empowered Funds LLC now owns 44,348 shares of the company’s stock valued at $443,000 after purchasing an additional 3,325 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in OP Bancorp by 13.7% in the first quarter. Russell Investments Group Ltd. now owns 48,924 shares of the company’s stock worth $488,000 after purchasing an additional 5,896 shares during the period. O Shaughnessy Asset Management LLC boosted its position in shares of OP Bancorp by 36.6% during the first quarter. O Shaughnessy Asset Management LLC now owns 40,486 shares of the company’s stock worth $404,000 after purchasing an additional 10,854 shares in the last quarter. Finally, Ancora Advisors LLC grew its holdings in shares of OP Bancorp by 1.2% in the 1st quarter. Ancora Advisors LLC now owns 113,810 shares of the company’s stock valued at $1,136,000 after buying an additional 1,350 shares during the period. 53.63% of the stock is owned by institutional investors and hedge funds.

OP Bancorp Trading Down 0.1 %

OPBK stock traded down $0.01 during midday trading on Monday, reaching $12.36. The stock had a trading volume of 2,527 shares, compared to its average volume of 28,095. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.59. OP Bancorp has a twelve month low of $8.23 and a twelve month high of $13.03. The firm has a market cap of $184.41 million, a price-to-earnings ratio of 8.83 and a beta of 0.63. The business has a fifty day simple moving average of $12.32 and a two-hundred day simple moving average of $10.64.

OP Bancorp (NASDAQ:OPBK) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates 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, research analysts expect that OP Bancorp will post 1.39 EPS for the current fiscal year.

OP Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were given a $0.12 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $0.48 annualized dividend and a dividend yield of 3.88%. OP Bancorp’s dividend payout ratio is currently 34.29%.

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.