OP Bancorp (NASDAQ:OPBK) Short Interest Down 17.0% in April

OP Bancorp (NASDAQ:OPBK) was the target of a large decline in short interest in the month of April. As of April 15th, there was short interest totaling 140,435 shares, a decline of 17.0% from the March 31st total of 169,275 shares. Approximately 1.2% of the shares of the company are sold short. Based on an average daily volume of 41,144 shares, the days-to-cover ratio is presently 3.4 days.

OP Bancorp Stock Performance

Shares of NASDAQ:OPBK traded up $0.33 during mid-day trading on Friday, reaching $14.67. 34,434 shares of the company traded hands, compared to its average volume of 39,723. The company’s 50 day moving average price is $13.61 and its 200-day moving average price is $13.79. The firm has a market cap of $218.49 million, a PE ratio of 8.06 and a beta of 0.62. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.03 and a quick ratio of 1.02. OP Bancorp has a 52 week low of $11.52 and a 52 week high of $15.27.

OP Bancorp (NASDAQ:OPBK) last posted its quarterly earnings results on Thursday, April 23rd. The company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.07. OP Bancorp had a return on equity of 12.36% and a net margin of 16.12%.The company had revenue of $24.56 million for the quarter, compared to analysts’ expectations of $25.37 million. On average, equities analysts expect that OP Bancorp will post 1.9 EPS for the current fiscal year.

OP Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 21st. Investors of record on Thursday, May 7th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Thursday, May 7th. This represents a $0.56 dividend on an annualized basis and a yield of 3.8%. This is a boost from OP Bancorp’s previous quarterly dividend of $0.12. OP Bancorp’s payout ratio is presently 30.77%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on OPBK shares. DA Davidson restated a “buy” rating and set a $17.00 price target on shares of OP Bancorp in a research note on Tuesday. Wall Street Zen upgraded OP Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday, April 25th. Weiss Ratings upgraded OP Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, April 10th. Finally, Zacks Research upgraded OP Bancorp from a “strong sell” rating to a “hold” rating in a research note on Friday, March 27th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.50.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Amundi purchased a new position in OP Bancorp in the 1st quarter worth approximately $26,000. BNP Paribas Financial Markets lifted its holdings in OP Bancorp by 96.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,492 shares of the company’s stock worth $35,000 after purchasing an additional 1,225 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in OP Bancorp by 6,423.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,675 shares of the company’s stock worth $74,000 after purchasing an additional 5,588 shares in the last quarter. Bank of America Corp DE lifted its holdings in OP Bancorp by 880.9% in the 4th quarter. Bank of America Corp DE now owns 5,758 shares of the company’s stock worth $91,000 after purchasing an additional 5,171 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in OP Bancorp in the 2nd quarter worth approximately $84,000. 53.63% of the stock is owned by hedge funds and other institutional investors.

About OP Bancorp

OP Bancorp is the bank holding company for Old Point National Bank, a community-focused financial institution headquartered in Suffolk, Virginia. Through its subsidiary, the company offers a broad range of commercial and consumer banking services designed to meet the needs of businesses, professionals and individuals across the Hampton Roads and Virginia Peninsula regions. Core services include business lending, real estate financing, deposit accounts, cash management solutions and treasury services.

The company’s lending portfolio spans commercial real estate loans, construction and land development financing, equipment loans and lines of credit tailored for small and medium-sized enterprises.