Raymond James Financial Inc. Makes New $1.57 Million Investment in OP Bancorp (NASDAQ:OPBK)

Raymond James Financial Inc. bought a new position in OP Bancorp (NASDAQ:OPBK - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 99,192 shares of the company's stock, valued at approximately $1,568,000. Raymond James Financial Inc. owned 0.67% of OP Bancorp at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its position in shares of OP Bancorp by 139.6% in the 4th quarter. Bank of New York Mellon Corp now owns 33,024 shares of the company's stock valued at $522,000 after acquiring an additional 19,243 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of OP Bancorp by 5.2% in the fourth quarter. Empowered Funds LLC now owns 52,929 shares of the company's stock valued at $837,000 after purchasing an additional 2,615 shares in the last quarter. Ritholtz Wealth Management boosted its position in shares of OP Bancorp by 10.4% in the fourth quarter. Ritholtz Wealth Management now owns 39,688 shares of the company's stock worth $627,000 after buying an additional 3,740 shares during the period. Barclays PLC purchased a new position in shares of OP Bancorp during the third quarter valued at $58,000. Finally, Geode Capital Management LLC lifted its stake in OP Bancorp by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 118,203 shares of the company's stock worth $1,476,000 after acquiring an additional 2,948 shares in the last quarter. 53.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

OP Bancorp Stock Down 0.4 %

OP Bancorp stock traded down $0.04 during trading hours on Friday, hitting $11.05. The company had a trading volume of 60,226 shares, compared to its average volume of 30,452. The firm's fifty day moving average is $13.07 and its 200-day moving average is $14.40. The firm has a market capitalization of $164.80 million, a P/E ratio of 7.95 and a beta of 0.54. OP Bancorp has a fifty-two week low of $8.91 and a fifty-two week high of $18.57. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 1.00.

OP Bancorp (NASDAQ:OPBK - Get Free Report) last released its quarterly earnings data on Thursday, January 23rd. The company reported $0.33 earnings per share (EPS) 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were issued a $0.12 dividend. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $0.48 dividend on an annualized basis and a yield of 4.34%. OP Bancorp's dividend payout ratio is currently 34.53%.

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.