Truffle Hound Capital LLC Acquires Shares of 580,000 OP Bancorp (NASDAQ:OPBK)

Truffle Hound Capital LLC bought a new stake in shares of OP Bancorp (NASDAQ:OPBK) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 580,000 shares of the company’s stock, valued at approximately $9,170,000. OP Bancorp makes up about 3.2% of Truffle Hound Capital LLC’s portfolio, making the stock its 5th largest position. Truffle Hound Capital LLC owned about 3.92% of OP Bancorp as of its most recent SEC filing.

Several other large investors also recently modified their holdings of OPBK. Fourthstone LLC acquired a new stake in shares of OP Bancorp during the third quarter valued at about $1,448,000. Raymond James Financial Inc. acquired a new stake in shares of OP Bancorp during the fourth quarter valued at about $1,568,000. Royce & Associates LP acquired a new stake in shares of OP Bancorp during the fourth quarter valued at about $1,494,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of OP Bancorp by 41.8% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 87,165 shares of the company’s stock valued at $1,378,000 after acquiring an additional 25,698 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of OP Bancorp by 139.6% during the fourth quarter. Bank of New York Mellon Corp now owns 33,024 shares of the company’s stock valued at $522,000 after acquiring an additional 19,243 shares in the last quarter. 53.63% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods lowered their target price on OP Bancorp from $19.00 to $18.00 and set a “market perform” rating for the company in a research note on Monday, January 27th.

OP Bancorp Stock Down 2.2 %

NASDAQ:OPBK opened at $12.20 on Friday. The company has a market capitalization of $180.71 million, a price-to-earnings ratio of 8.78 and a beta of 0.60. OP Bancorp has a one year low of $8.91 and a one year high of $18.57. The stock has a 50-day simple moving average of $13.77 and a 200 day simple moving average of $14.40. 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 posted its quarterly earnings results on Thursday, January 23rd. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). OP Bancorp had a return on equity of 10.64% and a net margin of 13.68%. Sell-side analysts predict that OP Bancorp will post 1.9 EPS for the current fiscal year.

OP Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were paid a $0.12 dividend. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $0.48 dividend on an annualized basis and a yield of 3.93%. OP Bancorp’s dividend payout ratio (DPR) is 34.53%.

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.