OP Bancorp Inc (NASDAQ:OPBK) Short interest down 16.5% in September
OP Bancorp Inc (NASDAQ:OPBK – Get Rating) benefited from a significant drop in short-term interest in September. As of September 30, there was short interest totaling 45,700 shares, down 16.5% from the total of 54,700 shares as of September 15. Approximately 0.4% of the company’s shares are sold short. Based on an average daily volume of 36,300 shares, the day-to-cover ratio is currently 1.3 days.
OP Bancorp price performance
Shares of NASDAQ OPBK opened at $11.75 on Friday. The stock has a market capitalization of $178.47 million, a PE ratio of 5.34 and a beta of 0.60. The company has a fifty-day moving average price of $11.80 and a two-hundred-day moving average price of $11.86. OP Bancorp has a fifty-two week low of $10.25 and a fifty-two week high of $14.86.
OP Bancorp (NASDAQ:OPBK – Get Rating) last released its quarterly results on Thursday, July 28. The company reported EPS of $0.54 for the quarter, missing analyst consensus estimates of $0.55 per ($0.01). OP Bancorp had a return on equity of 20.84% and a net margin of 36.33%. The company had revenue of $24.44 million for the quarter. On average, stock analysts expect OP Bancorp to post an EPS of 2.22 for the current year.
OP Bancorp increases its dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, August 25. Investors of record on Thursday, August 11 received a dividend of $0.12 per share. This is a positive change from OP Bancorp’s previous quarterly dividend of $0.10. The ex-dividend date was Wednesday, August 10. This represents an annualized dividend of $0.48 and a dividend yield of 4.09%. OP Bancorp’s dividend payout ratio is currently 21.82%.
Insider Buying and Selling at OP Bancorp
In other OP Bancorp news, Director Brian Choi purchased 10,000 shares of OP Bancorp in a trade dated Monday August 29. The stock was purchased at an average price of $12.55 per share, for a total transaction of $125,500.00. Following the purchase, the administrator now owns 1,143,795 shares of the company, valued at approximately $14,354,627.25. The purchase was disclosed in a document filed with the Securities & Exchange Commission, accessible via this hyperlink. Insiders purchased a total of 42,281 shares of the company worth $515,553 over the past ninety days. 22.16% of the shares are currently held by company insiders.
Institutional entries and exits
A number of institutional investors have recently increased or reduced their stake in OPBK. Millennium Management LLC increased its holdings of OP Bancorp shares by 8.3% in the second quarter. Millennium Management LLC now owns 214,958 shares of the company valued at $2,255,000 after acquiring an additional 16,544 shares last quarter. Sei Investments Co. increased its holdings of OP Bancorp shares by 41.9% in the second quarter. Sei Investments Co. now owns 20,923 shares of the company worth $216,000 after acquiring an additional 6,182 shares during the period. Maltese Capital Management LLC increased its holdings of OP Bancorp shares by 8.4% in the second quarter. Maltese Capital Management LLC now owns 240,000 shares of the company worth $2,518,000 after acquiring an additional 18,600 shares during the period. Renaissance Technologies LLC increased its holdings of OP Bancorp shares by 11.9% in the second quarter. Renaissance Technologies LLC now owns 180,800 shares of the company worth $1,897,000 after acquiring an additional 19,200 shares during the period. Finally, Essex Investment Management Co. LLC increased its position in OP Bancorp shares by 3.5% in the second quarter. Essex Investment Management Co. LLC now owns 124,466 shares of the company worth $1,306,000 after buying 4,202 more shares last quarter. 50.61% of the shares are held by institutional investors and hedge funds.
About OP Bancorp
(Get a rating)
OP Bancorp operates as a bank holding company for Open Bank which provides banking products and services in California. It offers current, chequing, savings, money market and term accounts, as well as certificates of deposit. The Company also offers commercial real estate, small business administration, commercial and industrial, single family residential, term, consumer and mortgage loans; trade finance products; and letters of credit, SWIFT and export advice.
This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Before you consider OP Bancorp, you’ll want to hear this.
MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market ripples…and OP Bancorp was not on the list.
While OP Bancorp currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.