OP Bancorp (NASDAQ:OPBK) Short Interest Down 27.0% in April

OP Bancorp (NASDAQ:OPBK) saw a significant drop in short interest in the month of April. As of April 15th, there was short interest totalling 37,000 shares, a drop of 27.0% from the March 31st total of 50,700 shares. Approximately 0.3% of the shares of the company are sold short. Based on an average daily volume of 22,900 shares, the days-to-cover ratio is currently 1.6 days.

OP Bancorp Price Performance

Shares of OP Bancorp stock traded down $0.09 on Friday, reaching $9.34. 42,907 shares of the stock were exchanged, compared to its average volume of 23,204. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market cap of $139.73 million, a PE ratio of 6.67 and a beta of 0.62. The firm’s 50 day moving average is $9.87 and its 200-day moving average is $9.79. OP Bancorp has a one year low of $7.50 and a one year high of $11.49.

OP Bancorp (NASDAQ:OPBK) last issued its earnings results on Thursday, January 25th. The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). The business had revenue of $19.91 million during the quarter. OP Bancorp had a net margin of 15.50% and a return on equity of 11.56%. As a group, analysts anticipate that OP Bancorp will post 1.52 EPS for the current fiscal year.

OP Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.14%. OP Bancorp’s payout ratio is presently 34.29%.

Insider Transactions at OP Bancorp

In related news, Director Brian Choi bought 4,914 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was purchased at an average cost of $9.95 per share, for a total transaction of $48,894.30. Following the transaction, the director now owns 1,298,520 shares in the company, valued at approximately $12,920,274. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 24.88% of the company’s stock.

Institutional Investors Weigh In On OP Bancorp

Hedge funds have recently modified their holdings of the company. AJOVista LLC bought a new position in shares of OP Bancorp during the fourth quarter valued at $83,000. Raymond James & Associates acquired a new position in OP Bancorp during the 3rd quarter worth about $92,000. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of OP Bancorp by 58.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 27,592 shares of the company’s stock valued at $252,000 after buying an additional 10,135 shares during the last quarter. Hilltop Holdings Inc. bought a new stake in shares of OP Bancorp in the 4th quarter valued at about $274,000. Finally, Assenagon Asset Management S.A. raised its position in shares of OP Bancorp by 157.4% during the third quarter. Assenagon Asset Management S.A. now owns 34,734 shares of the company’s stock worth $318,000 after acquiring an additional 21,240 shares during the last quarter. Institutional investors and hedge funds own 53.63% of the company’s stock.

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.