ClariVest Asset Management LLC Boosts Stock Holdings in OP Bancorp (NASDAQ:OPBK)

ClariVest Asset Management LLC raised its position in shares of OP Bancorp (NASDAQ:OPBK) by 2.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 90,509 shares of the company’s stock after acquiring an additional 2,528 shares during the quarter. ClariVest Asset Management LLC owned approximately 0.61% of OP Bancorp worth $868,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ritholtz Wealth Management raised its stake in OP Bancorp by 44.9% in the 2nd quarter. Ritholtz Wealth Management now owns 24,014 shares of the company’s stock valued at $230,000 after purchasing an additional 7,440 shares during the last quarter. Hilltop Holdings Inc. purchased a new position in shares of OP Bancorp in the fourth quarter worth about $274,000. O Shaughnessy Asset Management LLC boosted its position in 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 acquiring an additional 10,854 shares during the last quarter. Empowered Funds LLC grew its stake in OP Bancorp by 8.1% during the 1st quarter. Empowered Funds LLC now owns 44,348 shares of the company’s stock valued at $443,000 after acquiring an additional 3,325 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in OP Bancorp by 13.7% in the 1st quarter. Russell Investments Group Ltd. now owns 48,924 shares of the company’s stock valued at $488,000 after acquiring an additional 5,896 shares during the last quarter. Hedge funds and other institutional investors own 53.63% of the company’s stock.

OP Bancorp Stock Down 1.0 %

Shares of NASDAQ:OPBK opened at $12.04 on Thursday. OP Bancorp has a 52-week low of $8.23 and a 52-week high of $13.03. The stock has a market cap of $179.64 million, a P/E ratio of 8.60 and a beta of 0.63. The business has a fifty day moving average of $11.83 and a two-hundred day moving average of $10.46. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.59.

OP Bancorp (NASDAQ:OPBK) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.36 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $38.54 million during the quarter. On average, research analysts expect that OP Bancorp will post 1.39 earnings per share for the current year.

OP Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.99%. OP Bancorp’s dividend payout ratio is currently 34.29%.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other OP Bancorp news, insider Ki Won Yoon sold 5,000 shares of the firm’s 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 sale, the insider now owns 47,137 shares of the company’s stock, valued at $574,128.66. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 21.34% of the company’s stock.

OP Bancorp Company Profile

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.