Fourthstone LLC Acquires Shares of 116,006 OP Bancorp (NASDAQ:OPBK)

Fourthstone LLC acquired a new stake in OP Bancorp (NASDAQ:OPBK) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 116,006 shares of the company’s stock, valued at approximately $1,448,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of OPBK. Connor Clark & Lunn Investment Management Ltd. lifted its stake in OP Bancorp by 18.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 61,467 shares of the company’s stock worth $767,000 after purchasing an additional 9,447 shares during the last quarter. Empowered Funds LLC raised its holdings 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 worth $628,000 after buying an additional 2,546 shares during the period. Ritholtz Wealth Management lifted its stake in shares of OP Bancorp by 49.7% during the 3rd quarter. Ritholtz Wealth Management now owns 35,948 shares of the company’s stock worth $449,000 after acquiring an additional 11,934 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in OP Bancorp by 40.1% during the 2nd quarter. Renaissance Technologies LLC now owns 112,060 shares of the company’s stock valued at $1,075,000 after acquiring an additional 32,060 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in OP Bancorp by 8.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 476,934 shares of the company’s stock valued at $4,573,000 after acquiring an additional 35,288 shares during the last quarter. Hedge funds and other institutional investors own 53.63% of the company’s stock.

Wall Street Analyst Weigh In

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

OP Bancorp Stock Down 0.1 %

Shares of NASDAQ:OPBK traded down $0.01 during trading on Thursday, reaching $17.43. The stock had a trading volume of 10,731 shares, compared to its average volume of 28,602. The company has a market capitalization of $258.17 million, a P/E ratio of 12.45 and a beta of 0.60. OP Bancorp has a one year low of $8.57 and a one year high of $18.29. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37. The firm’s 50-day simple moving average is $14.26 and its 200 day simple moving average is $12.11.

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

OP Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend was Thursday, November 7th. OP Bancorp’s dividend payout ratio is presently 34.29%.

OP Bancorp 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.