Short Interest in OP Bancorp (NASDAQ:OPBK) Drops By 23.5%

OP Bancorp (NASDAQ:OPBK) was the target of a large drop in short interest during the month of December. As of December 31st, there was short interest totalling 35,800 shares, a drop of 23.5% from the December 15th total of 46,800 shares. Based on an average trading volume of 28,800 shares, the days-to-cover ratio is presently 1.2 days. Currently, 0.3% of the shares of the company are short sold.

OP Bancorp Stock Performance

Shares of OPBK stock traded up $0.65 during mid-day trading on Wednesday, reaching $15.54. 31,097 shares of the company’s stock traded hands, compared to its average volume of 22,877. The firm has a 50 day moving average price of $16.38 and a two-hundred day moving average price of $13.73. The firm has a market capitalization of $230.18 million, a PE ratio of 11.10 and a beta of 0.66. OP Bancorp has a 12 month low of $8.91 and a 12 month high of $18.57. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.00 and a current ratio of 1.00.

OP Bancorp (NASDAQ:OPBK) last announced its quarterly earnings results on Thursday, October 24th. The company reported $0.36 EPS for the quarter, topping 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 business had revenue of $39.54 million for the quarter. On average, research analysts forecast that OP Bancorp will post 1.46 EPS for the current year.

OP Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.09%. The ex-dividend date was Thursday, November 7th. OP Bancorp’s payout ratio is 34.29%.

Institutional Trading of OP Bancorp

Several institutional investors have recently added to or reduced their stakes in OPBK. Fourthstone LLC bought a new stake in shares of OP Bancorp in the third quarter valued at about $1,448,000. Dimensional Fund Advisors LP lifted its stake in shares of OP Bancorp by 8.0% during the 2nd 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 during the last quarter. Renaissance Technologies LLC boosted its position in OP Bancorp by 40.1% during the second quarter. Renaissance Technologies LLC now owns 112,060 shares of the company’s stock valued at $1,075,000 after purchasing an additional 32,060 shares in the last quarter. Ritholtz Wealth Management raised its holdings in OP Bancorp by 49.7% in the third quarter. Ritholtz Wealth Management now owns 35,948 shares of the company’s stock worth $449,000 after purchasing an additional 11,934 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of 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 in the last quarter. Institutional investors own 53.63% 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.