OP Bancorp (NASDAQ:OPBK) Sees Large Growth in Short Interest

OP Bancorp (NASDAQ:OPBK) saw a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 20,100 shares, an increase of 16.9% from the October 15th total of 17,200 shares. Based on an average daily trading volume, of 23,900 shares, the days-to-cover ratio is presently 0.8 days. Approximately 0.2% of the shares of the company are sold short.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Barclays PLC acquired a new position in shares of OP Bancorp in the 3rd quarter valued at approximately $58,000. Ritholtz Wealth Management lifted its position in shares of OP Bancorp by 44.9% during the 2nd quarter. Ritholtz Wealth Management now owns 24,014 shares of the company’s stock worth $230,000 after buying an additional 7,440 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its stake in OP Bancorp by 36.6% in the first quarter. O Shaughnessy Asset Management LLC now owns 40,486 shares of the company’s stock valued at $404,000 after buying an additional 10,854 shares in the last quarter. Empowered Funds LLC grew its position in OP Bancorp by 8.1% in the first quarter. Empowered Funds LLC now owns 44,348 shares of the company’s stock valued at $443,000 after acquiring an additional 3,325 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of OP Bancorp by 13.7% in the 1st quarter. Russell Investments Group Ltd. now owns 48,924 shares of the company’s stock valued at $488,000 after purchasing an additional 5,896 shares in the last quarter. Institutional investors and hedge funds own 53.63% of the company’s stock.

OP Bancorp Stock Performance

OPBK stock traded down $0.19 during mid-day trading on Friday, hitting $16.51. 37,377 shares of the company were exchanged, compared to its average volume of 36,816. The stock has a market capitalization of $246.33 million, a PE ratio of 11.79 and a beta of 0.60. The business has a 50 day simple moving average of $13.52 and a 200-day simple moving average of $11.72. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.59. OP Bancorp has a 1-year low of $8.41 and a 1-year high of $18.29.

OP Bancorp (NASDAQ:OPBK) last released its quarterly earnings results 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. OP Bancorp had a return on equity of 10.94% and a net margin of 14.18%. The business had revenue of $39.54 million during the quarter. On average, equities analysts forecast that OP Bancorp will post 1.46 earnings per share for the current year.

OP Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be given a $0.12 dividend. The ex-dividend date is Thursday, November 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.91%. OP Bancorp’s payout ratio is 34.29%.

Wall Street Analysts Forecast Growth

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

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.