OP Bancorp (NASDAQ:OPBK – Get Rating) saw a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 39,900 shares, an increase of 86.4% from the November 30th total of 21,400 shares. Approximately 0.4% of the shares of the company are short sold. Based on an average daily volume of 27,400 shares, the days-to-cover ratio is presently 1.5 days.
Wall Street Analyst Weigh In
Separately, DA Davidson cut their price objective on OP Bancorp to $14.50 in a report on Tuesday, November 1st.
OP Bancorp Price Performance
Shares of OPBK traded up $0.20 during midday trading on Thursday, reaching $11.22. The stock had a trading volume of 264 shares, compared to its average volume of 32,717. The company’s 50-day moving average is $11.46 and its 200 day moving average is $11.38. OP Bancorp has a 12-month low of $10.25 and a 12-month high of $14.86. The company has a current ratio of 0.96, a quick ratio of 0.94 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $170.43 million, a price-to-earnings ratio of 4.99 and a beta of 0.59.
OP Bancorp (NASDAQ:OPBK – Get Rating) last issued its earnings results on Thursday, October 27th. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.02). The company had revenue of $25.17 million for the quarter. OP Bancorp had a net margin of 34.15% and a return on equity of 20.53%. On average, equities analysts predict that OP Bancorp will post 2.2 EPS for the current fiscal year.
OP Bancorp Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, November 24th. Investors of record on Thursday, November 10th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 4.28%. The ex-dividend date of this dividend was Wednesday, November 9th. OP Bancorp’s dividend payout ratio is presently 21.72%.
Insider Activity at OP Bancorp
In other OP Bancorp news, Director Brian Choi bought 17,500 shares of the firm’s stock in a transaction on Tuesday, November 1st. The shares were acquired at an average cost of $11.22 per share, for a total transaction of $196,350.00. Following the purchase, the director now directly owns 1,176,295 shares of the company’s stock, valued at $13,198,029.90. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. In other OP Bancorp news, Director Brian Choi bought 17,500 shares of the firm’s stock in a transaction on Tuesday, November 1st. The shares were acquired at an average cost of $11.22 per share, for a total transaction of $196,350.00. Following the purchase, the director now directly owns 1,176,295 shares of the company’s stock, valued at $13,198,029.90. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Ock Hee Kim bought 3,757 shares of the firm’s stock in a transaction on Wednesday, December 7th. The stock was acquired at an average price of $11.80 per share, for a total transaction of $44,332.60. Following the completion of the purchase, the director now directly owns 593,091 shares in the company, valued at $6,998,473.80. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 45,206 shares of company stock worth $513,465. 22.16% of the stock is owned by company insiders.
Institutional Investors Weigh In On OP Bancorp
Several institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its holdings in OP Bancorp by 1.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 58,479 shares of the company’s stock worth $650,000 after buying an additional 855 shares during the period. BlackRock Inc. lifted its holdings in OP Bancorp by 0.6% in the 3rd quarter. BlackRock Inc. now owns 162,787 shares of the company’s stock worth $1,810,000 after buying an additional 1,015 shares during the period. Royal Bank of Canada lifted its holdings in OP Bancorp by 9.0% in the 3rd quarter. Royal Bank of Canada now owns 13,215 shares of the company’s stock worth $147,000 after buying an additional 1,087 shares during the period. State Street Corp lifted its holdings in OP Bancorp by 7.4% in the 3rd quarter. State Street Corp now owns 40,552 shares of the company’s stock worth $451,000 after buying an additional 2,800 shares during the period. Finally, Dorsey Wright & Associates purchased a new stake in OP Bancorp in the 2nd quarter worth approximately $31,000. 48.11% of the stock is currently owned by hedge funds and other institutional investors.
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.