OP Bancorp (NASDAQ:OPBK) Sees Significant Decline in Short Interest

OP Bancorp (NASDAQ:OPBK) was the target of a significant decrease in short interest during the month of December. As of December 31st, there was short interest totalling 35,800 shares, a decrease of 23.5% from the December 15th total of 46,800 shares. Currently, 0.3% of the shares of the company are sold short. Based on an average daily volume of 28,800 shares, the days-to-cover ratio is presently 1.2 days.

Institutional Trading of OP Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Barclays PLC bought a new position in OP Bancorp during the 3rd quarter valued at approximately $58,000. Geode Capital Management LLC lifted its stake in shares of OP Bancorp by 2.6% in the third quarter. Geode Capital Management LLC now owns 118,203 shares of the company’s stock worth $1,476,000 after buying an additional 2,948 shares in the last quarter. Fourthstone LLC purchased a new stake in shares of OP Bancorp during the third quarter valued at approximately $1,448,000. Ritholtz Wealth Management increased its position in shares of OP Bancorp by 49.7% during the third quarter. Ritholtz Wealth Management now owns 35,948 shares of the company’s stock valued at $449,000 after acquiring an additional 11,934 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in OP Bancorp by 40.1% in the 2nd quarter. Renaissance Technologies LLC now owns 112,060 shares of the company’s stock worth $1,075,000 after acquiring an additional 32,060 shares during the last quarter. 53.63% of the stock is currently owned by hedge funds and other institutional investors.

OP Bancorp Price Performance

OPBK stock traded up $0.65 during mid-day trading on Wednesday, reaching $15.54. 31,097 shares of the company traded hands, compared to its average volume of 22,877. OP Bancorp has a 52-week low of $8.91 and a 52-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. The company has a market capitalization of $230.18 million, a P/E ratio of 11.10 and a beta of 0.66. The company has a fifty day moving average price of $16.38 and a 200-day moving average price of $13.73.

OP Bancorp (NASDAQ:OPBK) last announced its earnings results on Thursday, October 24th. The company reported $0.36 earnings per share (EPS) for the quarter, topping 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%. As a group, analysts anticipate that OP Bancorp will post 1.46 earnings per share for the current year.

OP Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were given a $0.12 dividend. The ex-dividend date was Thursday, November 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.09%. OP Bancorp’s dividend payout ratio is currently 34.29%.

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.