The Manufacturers Life Insurance Company Reduces Stake in OP Bancorp (NASDAQ:OPBK)

The Manufacturers Life Insurance Company reduced its holdings in shares of OP Bancorp (NASDAQ:OPBK - Free Report) by 4.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 593,606 shares of the company's stock after selling 28,179 shares during the period. The Manufacturers Life Insurance Company owned 3.98% of OP Bancorp worth $7,408,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. ClariVest Asset Management LLC lifted its position in OP Bancorp by 2.9% in the 2nd quarter. ClariVest Asset Management LLC now owns 90,509 shares of the company's stock valued at $868,000 after acquiring an additional 2,528 shares in the last quarter. Ritholtz Wealth Management boosted its position in shares of OP Bancorp by 44.9% during the second 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. Renaissance Technologies LLC grew its holdings in OP Bancorp by 40.1% during the second quarter. Renaissance Technologies LLC now owns 112,060 shares of the company's stock worth $1,075,000 after buying an additional 32,060 shares in the last quarter. Dimensional Fund Advisors LP raised its position in OP Bancorp by 8.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 476,934 shares of the company's stock valued at $4,573,000 after buying an additional 35,288 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in OP Bancorp by 18.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 61,467 shares of the company's stock valued at $767,000 after acquiring an additional 9,447 shares in the last quarter. 53.63% of the stock is currently owned by institutional investors.

OP Bancorp Stock Performance

NASDAQ:OPBK traded down $0.29 during trading on Thursday, reaching $17.97. The company's stock had a trading volume of 20,703 shares, compared to its average volume of 28,501. The firm has a market cap of $266.14 million, a price-to-earnings ratio of 13.04 and a beta of 0.64. OP Bancorp has a 12 month low of $8.91 and a 12 month high of $18.57. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a 50 day moving average of $14.78 and a 200-day moving average of $12.39.

OP Bancorp (NASDAQ:OPBK - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.03. The company had revenue of $39.54 million during the quarter. OP Bancorp had a net margin of 14.18% and a return on equity of 10.81%. Research analysts expect that OP Bancorp will post 1.46 EPS for the current fiscal year.

OP Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were paid a $0.12 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $0.48 annualized dividend and a yield of 2.67%. OP Bancorp's payout ratio is 34.29%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods restated a "market perform" rating and set a $13.00 price target on shares of OP Bancorp in a report 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.