Ritholtz Wealth Management Boosts Stock Position in OP Bancorp (NASDAQ:OPBK)

Ritholtz Wealth Management grew its holdings in OP Bancorp (NASDAQ:OPBK) by 44.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,014 shares of the company’s stock after buying an additional 7,440 shares during the quarter. Ritholtz Wealth Management owned 0.16% of OP Bancorp worth $230,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Ancora Advisors LLC increased its position in shares of OP Bancorp by 1.2% in the first quarter. Ancora Advisors LLC now owns 113,810 shares of the company’s stock valued at $1,136,000 after buying an additional 1,350 shares in the last quarter. Empowered Funds LLC increased its position in shares of OP Bancorp by 8.1% during the first quarter. Empowered Funds LLC now owns 44,348 shares of the company’s stock worth $443,000 after purchasing an additional 3,325 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of OP Bancorp by 13.7% during the first quarter. Russell Investments Group Ltd. now owns 48,924 shares of the company’s stock worth $488,000 after purchasing an additional 5,896 shares in the last quarter. O Shaughnessy Asset Management LLC increased its position in shares of OP Bancorp by 36.6% during the first quarter. O Shaughnessy Asset Management LLC now owns 40,486 shares of the company’s stock worth $404,000 after purchasing an additional 10,854 shares in the last quarter. Finally, Hilltop Holdings Inc. purchased a new stake in shares of OP Bancorp during the fourth quarter worth approximately $274,000. 53.63% of the stock is currently owned by hedge funds and other institutional investors.

OP Bancorp Stock Down 1.0 %

Shares of OPBK opened at $12.31 on Friday. OP Bancorp has a 52-week low of $8.23 and a 52-week high of $13.03. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.59. The stock has a fifty day simple moving average of $11.62 and a two-hundred day simple moving average of $10.41. The company has a market capitalization of $183.67 million, a PE ratio of 8.79 and a beta of 0.63.

OP Bancorp (NASDAQ:OPBK) last issued its earnings results on Thursday, July 25th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.06. OP Bancorp had a net margin of 14.52% and a return on equity of 10.92%. The company had revenue of $38.54 million for the quarter. As a group, equities analysts forecast that OP Bancorp will post 1.39 EPS for the current year.

OP Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were given a $0.12 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $0.48 annualized dividend and a yield of 3.90%. OP Bancorp’s payout ratio is 34.29%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $13.00 price target on shares of OP Bancorp in a research report on Monday, August 26th.

Insiders Place Their Bets

In other news, insider Ki Won Yoon sold 5,000 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $12.18, for a total transaction of $60,900.00. Following the completion of the transaction, the insider now directly owns 47,137 shares in the company, valued at approximately $574,128.66. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 21.34% of the stock is owned by insiders.

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.