Connor Clark & Lunn Investment Management Ltd. Raises Holdings in OP Bancorp (NASDAQ:OPBK)

Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of OP Bancorp (NASDAQ:OPBK - Free Report) by 41.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,165 shares of the company's stock after purchasing an additional 25,698 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.59% of OP Bancorp worth $1,378,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Raymond James Financial Inc. acquired a new position in OP Bancorp during the 4th quarter valued at about $1,568,000. Bank of New York Mellon Corp increased its position in OP Bancorp by 139.6% during the 4th quarter. Bank of New York Mellon Corp now owns 33,024 shares of the company's stock valued at $522,000 after buying an additional 19,243 shares in the last quarter. Empowered Funds LLC increased its position in OP Bancorp by 5.2% during the 4th quarter. Empowered Funds LLC now owns 52,929 shares of the company's stock valued at $837,000 after buying an additional 2,615 shares in the last quarter. Ritholtz Wealth Management increased its position in OP Bancorp by 10.4% during the 4th quarter. Ritholtz Wealth Management now owns 39,688 shares of the company's stock valued at $627,000 after buying an additional 3,740 shares in the last quarter. Finally, Barclays PLC acquired a new position in OP Bancorp during the 3rd quarter valued at about $58,000. 53.63% of the stock is currently owned by hedge funds and other institutional investors.

OP Bancorp Stock Performance

Shares of OPBK stock traded down $0.27 during mid-day trading on Friday, reaching $12.20. The stock had a trading volume of 34,453 shares, compared to its average volume of 29,059. The business's fifty day moving average is $13.77 and its 200-day moving average is $14.41. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37. The firm has a market cap of $180.71 million, a price-to-earnings ratio of 8.78 and a beta of 0.60. OP Bancorp has a 1-year low of $8.91 and a 1-year high of $18.57.

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OP Bancorp (NASDAQ:OPBK - Get Free Report) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $0.33 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.03). OP Bancorp had a net margin of 13.68% and a return on equity of 10.64%. On average, research analysts forecast that OP Bancorp will post 1.9 earnings per share for the current year.

OP Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date was Thursday, February 6th. OP Bancorp's dividend payout ratio is presently 34.53%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods reduced their target price on OP Bancorp from $19.00 to $18.00 and set a "market perform" rating on the stock in a research report on Monday, January 27th.

OP Bancorp 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.