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

by · The Markets Daily

OP Bancorp (NASDAQ:OPBKGet Free Report) was the recipient of a large drop in short interest during the month of 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. Currently, 1.7% of the shares of the stock are sold short. Based on an average trading volume of 34,464 shares, the days-to-cover ratio is currently 5.9 days. Based on an average trading volume of 34,464 shares, the days-to-cover ratio is currently 5.9 days. Currently, 1.7% of the shares of the stock are sold short.

OP Bancorp Trading Up 3.7%

OPBK stock traded up $0.52 during trading on Monday, hitting $14.50. 71,441 shares of the company traded hands, compared to its average volume of 39,192. The company has a 50-day moving average of $14.18 and a 200-day moving average of $13.84. 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 firm has a market capitalization of $215.85 million, a PE ratio of 8.48 and a beta of 0.68.

OP Bancorp (NASDAQ:OPBKGet Free Report) last announced its quarterly earnings data on Thursday, January 22nd. The company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.05). The company had revenue of $24.28 million during the quarter, compared to the consensus estimate of $24.85 million. OP Bancorp had a net margin of 15.39% and a return on equity of 11.93%. Analysts predict that OP Bancorp will post 1.9 earnings per share for the current fiscal year.

OP Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 19th. Shareholders of record on Thursday, February 5th will be given 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 yield of 3.3%. OP Bancorp’s dividend payout ratio is presently 28.07%.

Hedge Funds Weigh In On OP Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the company. Diversify Advisory Services LLC boosted its holdings in shares of OP Bancorp by 145.4% during the third quarter. Diversify Advisory Services LLC now owns 1,840,941 shares of the company’s stock worth $24,595,000 after purchasing an additional 1,090,687 shares during the period. Geode Capital Management LLC raised its position in OP Bancorp by 118.3% during the 2nd quarter. Geode Capital Management LLC now owns 273,701 shares of the company’s stock valued at $3,556,000 after purchasing an additional 148,299 shares during the last quarter. Fourthstone LLC lifted its holdings in OP Bancorp by 128.3% in the 2nd quarter. Fourthstone LLC now owns 263,790 shares of the company’s stock worth $3,427,000 after buying an additional 148,238 shares during the period. Segall Bryant & Hamill LLC bought a new stake in shares of OP Bancorp in the 3rd quarter worth approximately $1,864,000. Finally, Marshall Wace LLP increased its stake in shares of OP Bancorp by 960.2% during the second quarter. Marshall Wace LLP now owns 140,591 shares of the company’s stock valued at $1,826,000 after buying an additional 127,330 shares during the period. 53.63% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on OPBK shares. DA Davidson upped their price objective on shares of OP Bancorp from $16.50 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday, October 28th. Keefe, Bruyette & Woods increased their price target on shares of OP Bancorp from $15.50 to $16.00 and gave the stock a “market perform” rating in a report on Monday, October 27th. Weiss Ratings restated a “hold (c+)” rating on shares of OP Bancorp in a research report on Monday, December 29th. Finally, Zacks Research lowered shares of OP Bancorp from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 27th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, OP Bancorp presently has an average rating of “Hold” and an average price target of $16.50.

View Our Latest Stock Report on OP Bancorp

About OP Bancorp

(Get Free Report)

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.

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