683 Capital Management LLC Acquires Shares of 22,835 OP Bancorp (NASDAQ:OPBK)

683 Capital Management LLC bought a new stake in OP Bancorp (NASDAQ:OPBK - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 22,835 shares of the company's stock, valued at approximately $361,000. 683 Capital Management LLC owned about 0.15% of OP Bancorp at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Truffle Hound Capital LLC purchased a new position in OP Bancorp during the 4th quarter worth $9,170,000. Raymond James Financial Inc. acquired a new stake in OP Bancorp in the fourth quarter valued at about $1,568,000. Susquehanna International Group LLP increased its position in OP Bancorp by 161.3% during the 4th quarter. Susquehanna International Group LLP now owns 156,342 shares of the company's stock worth $2,472,000 after purchasing an additional 96,519 shares during the period. Royce & Associates LP purchased a new position in shares of OP Bancorp during the 4th quarter worth approximately $1,494,000. Finally, Rhino Investment Partners Inc boosted its stake in shares of OP Bancorp by 18.6% in the fourth quarter. Rhino Investment Partners Inc now owns 565,494 shares of the company's stock valued at $8,940,000 after buying an additional 88,869 shares in the last quarter. 53.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods reduced their price objective on shares of 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 Price Performance

NASDAQ OPBK traded up $0.30 during mid-day trading on Thursday, hitting $12.78. The stock had a trading volume of 26,218 shares, compared to its average volume of 32,161. The company has a 50 day simple moving average of $11.99 and a 200 day simple moving average of $14.22. The company has a market cap of $190.53 million, a price-to-earnings ratio of 9.19 and a beta of 0.65. OP Bancorp has a 52-week low of $9.28 and a 52-week high of $18.57. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.37.

OP Bancorp (NASDAQ:OPBK - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The company reported $0.37 EPS for the quarter, beating analysts' consensus estimates of $0.30 by $0.07. OP Bancorp had a net margin of 13.68% and a return on equity of 10.64%. The firm had revenue of $22.23 million for the quarter, compared to analysts' expectations of $21.25 million. Equities analysts forecast that OP Bancorp will post 1.9 EPS for the current fiscal year.

OP Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Thursday, May 8th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.76%. The ex-dividend date of this dividend is Thursday, May 8th. OP Bancorp's dividend payout ratio is presently 33.80%.

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.