Short Interest in OP Bancorp (NASDAQ:OPBK) Increases By 26.0%

OP Bancorp (NASDAQ:OPBK) saw a significant growth in short interest in the month of September. As of September 15th, there was short interest totalling 15,500 shares, a growth of 26.0% from the August 31st total of 12,300 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average trading volume of 29,600 shares, the days-to-cover ratio is currently 0.5 days.

OP Bancorp Price Performance

Shares of OP Bancorp stock traded down $0.01 on Monday, reaching $12.36. The company’s stock had a trading volume of 1,732 shares, compared to its average volume of 28,091. The company has a market capitalization of $184.41 million, a P/E ratio of 8.84 and a beta of 0.63. OP Bancorp has a 52-week low of $8.23 and a 52-week high of $13.03. The stock has a 50-day moving average price of $12.32 and a 200-day moving average price of $10.64. 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 issued its quarterly earnings results on Thursday, July 25th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.30 by $0.06. OP Bancorp had a return on equity of 10.92% and a net margin of 14.52%. The firm had revenue of $38.54 million during the quarter. Analysts expect that OP Bancorp will post 1.39 EPS for the current year.

OP Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 3.88%. The ex-dividend date was Thursday, August 8th. OP Bancorp’s payout ratio is 34.29%.

Insider Buying and Selling at OP Bancorp

In other OP Bancorp news, insider Ki Won Yoon sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $12.18, for a total value of $60,900.00. Following the completion of the transaction, the insider now directly owns 47,137 shares of the company’s stock, valued at $574,128.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 21.34% of the stock is currently owned by corporate insiders.

Institutional Trading of OP Bancorp

Several large investors have recently made changes to their positions in the company. Diversify Advisory Services LLC purchased a new stake in shares of OP Bancorp during the first quarter worth approximately $7,353,000. Dimensional Fund Advisors LP increased its position in shares of OP Bancorp by 8.0% during the second quarter. Dimensional Fund Advisors LP now owns 476,934 shares of the company’s stock worth $4,573,000 after purchasing an additional 35,288 shares in the last quarter. Ancora Advisors LLC grew its holdings in OP Bancorp by 1.2% in the 1st 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. Renaissance Technologies LLC grew 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 valued at $1,075,000 after buying an additional 32,060 shares in the last quarter. Finally, ClariVest Asset Management LLC grew its holdings in OP Bancorp by 2.9% in the 2nd quarter. ClariVest Asset Management LLC now owns 90,509 shares of the company’s stock valued at $868,000 after buying an additional 2,528 shares in the last quarter. 53.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

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.