OP Bancorp (NASDAQ:OPBK) Shares Up 1.5% - Here's What Happened

OP Bancorp (NASDAQ:OPBK - Get Free Report)'s share price rose 1.5% on Wednesday . The stock traded as high as $12.71 and last traded at $12.65. Approximately 35,875 shares changed hands during trading, an increase of 25% from the average daily volume of 28,810 shares. The stock had previously closed at $12.46.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods cut their target price on shares of OP Bancorp from $19.00 to $18.00 and set a "market perform" rating for the company in a research note on Monday, January 27th.

OP Bancorp Stock Performance

The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a 50-day moving average price of $13.77 and a 200-day moving average price of $14.43. The company has a market capitalization of $180.71 million, a price-to-earnings ratio of 8.78 and a beta of 0.60.

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

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OP Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 3.93%. The ex-dividend date was Thursday, February 6th. OP Bancorp's payout ratio is 34.53%.

Institutional Investors Weigh In On OP Bancorp

Several hedge funds have recently bought and sold shares of the stock. Truffle Hound Capital LLC bought a new position in shares of OP Bancorp during the fourth quarter worth approximately $9,170,000. Rhino Investment Partners Inc grew its holdings in OP Bancorp by 18.6% in the 4th quarter. Rhino Investment Partners Inc now owns 565,494 shares of the company's stock valued at $8,940,000 after buying an additional 88,869 shares in the last quarter. Dimensional Fund Advisors LP increased its position in OP Bancorp by 3.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 514,902 shares of the company's stock worth $8,140,000 after buying an additional 18,709 shares during the period. Bridgeway Capital Management LLC increased its position in OP Bancorp by 0.4% during the 4th quarter. Bridgeway Capital Management LLC now owns 228,379 shares of the company's stock worth $3,611,000 after buying an additional 915 shares during the period. Finally, Susquehanna International Group LLP lifted its holdings in shares of OP Bancorp by 161.3% during the fourth quarter. Susquehanna International Group LLP now owns 156,342 shares of the company's stock worth $2,472,000 after buying an additional 96,519 shares in the last quarter. 53.63% of the stock is currently owned by institutional investors and hedge funds.

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.