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

OP Bancorp (NASDAQ:OPBK) was the target of a significant drop in short interest in January. As of January 15th, there was short interest totaling 202,996 shares, a drop of 22.1% from the December 31st total of 260,565 shares. Approximately 1.7% of the company’s stock are sold short. Based on an average trading volume of 34,464 shares, the short-interest ratio is presently 5.9 days. Based on an average trading volume of 34,464 shares, the short-interest ratio is presently 5.9 days. Approximately 1.7% of the company’s stock are sold short.

Analyst Ratings Changes

OPBK has been the topic of several recent research reports. Weiss Ratings restated a “hold (c+)” rating on shares of OP Bancorp in a report on Monday, December 29th. Zacks Research lowered shares of OP Bancorp from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 27th. Keefe, Bruyette & Woods raised their target price on shares of OP Bancorp from $15.50 to $16.00 and gave the company a “market perform” rating in a report on Monday, October 27th. Finally, DA Davidson lifted their price target on shares of OP Bancorp from $16.50 to $17.00 and gave the stock a “buy” rating in a research note on Tuesday, October 28th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $16.50.

Institutional Trading of OP Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in the company. Jacobs Levy Equity Management Inc. grew its stake in OP Bancorp by 6.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 19,687 shares of the company’s stock worth $274,000 after buying an additional 1,160 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of OP Bancorp by 96.7% in the third quarter. BNP Paribas Financial Markets now owns 2,492 shares of the company’s stock valued at $35,000 after acquiring an additional 1,225 shares during the period. Empowered Funds LLC grew its position in shares of OP Bancorp by 3.5% during the first quarter. Empowered Funds LLC now owns 54,763 shares of the company’s stock worth $658,000 after acquiring an additional 1,834 shares during the last quarter. Gator Capital Management LLC grew its position in shares of OP Bancorp by 0.8% during the third quarter. Gator Capital Management LLC now owns 256,433 shares of the company’s stock worth $3,570,000 after acquiring an additional 2,160 shares during the last quarter. Finally, Amundi acquired a new position in shares of OP Bancorp in the 1st quarter valued at $26,000. 53.63% of the stock is owned by hedge funds and other institutional investors.

OP Bancorp Stock Up 3.7%

OPBK stock traded up $0.52 during midday trading on Monday, reaching $14.50. 71,441 shares of the company were exchanged, compared to its average volume of 35,910. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.01 and a current ratio of 1.01. OP Bancorp has a 1-year low of $10.43 and a 1-year high of $15.27. The stock’s 50-day simple moving average is $14.21 and its 200 day simple moving average is $13.85. The company has a market cap of $215.91 million, a price-to-earnings ratio of 8.48 and a beta of 0.68.

OP Bancorp (NASDAQ:OPBK) last issued its earnings results on Thursday, January 22nd. The company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.05). OP Bancorp had a net margin of 15.39% and a return on equity of 11.93%. The company had revenue of $24.28 million during the quarter, compared to analyst estimates of $24.85 million. On average, equities analysts forecast that OP Bancorp will post 1.9 earnings per share for the current year.

OP Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 19th. Shareholders of record on Thursday, February 5th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, February 5th. This represents a $0.48 annualized dividend and a dividend yield of 3.3%. OP Bancorp’s dividend payout ratio (DPR) is presently 28.07%.

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.