Geode Capital Management LLC Buys 2,948 Shares of OP Bancorp (NASDAQ:OPBK)

Geode Capital Management LLC grew its position in OP Bancorp (NASDAQ:OPBK) by 2.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 118,203 shares of the company’s stock after acquiring an additional 2,948 shares during the period. Geode Capital Management LLC’s holdings in OP Bancorp were worth $1,476,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Barclays PLC bought a new position in OP Bancorp in the third quarter valued at about $58,000. Ritholtz Wealth Management increased its stake in shares of OP Bancorp by 49.7% in the third quarter. Ritholtz Wealth Management now owns 35,948 shares of the company’s stock valued at $449,000 after buying an additional 11,934 shares during the period. Empowered Funds LLC increased its stake in shares of OP Bancorp by 5.3% in the third quarter. Empowered Funds LLC now owns 50,314 shares of the company’s stock valued at $628,000 after buying an additional 2,546 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in OP Bancorp by 18.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 61,467 shares of the company’s stock valued at $767,000 after buying an additional 9,447 shares during the last quarter. Finally, ClariVest Asset Management LLC boosted its position in OP Bancorp by 2.9% during the 2nd quarter. ClariVest Asset Management LLC now owns 90,509 shares of the company’s stock worth $868,000 after buying an additional 2,528 shares during the period. Institutional investors and hedge funds own 53.63% of the company’s stock.

OP Bancorp Trading Down 2.1 %

OPBK opened at $15.09 on Thursday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 1.00. OP Bancorp has a fifty-two week low of $8.91 and a fifty-two week high of $18.57. The company’s 50 day moving average price is $16.37 and its two-hundred day moving average price is $13.54. The firm has a market capitalization of $223.51 million, a price-to-earnings ratio of 10.78 and a beta of 0.66.

OP Bancorp (NASDAQ:OPBK) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.03. The company had revenue of $39.54 million for the quarter. OP Bancorp had a net margin of 14.18% and a return on equity of 10.81%. As a group, research analysts predict that OP Bancorp will post 1.46 earnings per share for the current year.

OP Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were paid a $0.12 dividend. The ex-dividend date was Thursday, November 7th. This represents a $0.48 annualized dividend and a dividend yield of 3.18%. OP Bancorp’s payout ratio is 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.