Raymond James Financial Inc. Acquires Shares of 99,192 OP Bancorp (NASDAQ:OPBK)

Raymond James Financial Inc. bought a new position in OP Bancorp (NASDAQ:OPBK - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 99,192 shares of the company's stock, valued at approximately $1,568,000. Raymond James Financial Inc. owned 0.67% of OP Bancorp as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Truffle Hound Capital LLC acquired a new position in OP Bancorp in the fourth quarter valued at $9,170,000. Royce & Associates LP acquired a new position in shares of OP Bancorp during the 4th quarter valued at about $1,494,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of OP Bancorp by 41.8% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 87,165 shares of the company's stock valued at $1,378,000 after acquiring an additional 25,698 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of OP Bancorp by 139.6% during the 4th quarter. Bank of New York Mellon Corp now owns 33,024 shares of the company's stock worth $522,000 after acquiring an additional 19,243 shares during the period. Finally, O Shaughnessy Asset Management LLC boosted its position in shares of OP Bancorp by 19.4% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 75,739 shares of the company's stock worth $1,197,000 after acquiring an additional 12,286 shares during the last quarter. 53.63% of the stock is currently owned by institutional investors and hedge funds.

OP Bancorp Trading Down 1.7 %

Shares of OPBK stock traded down $0.22 during mid-day trading on Monday, reaching $12.94. The company's stock had a trading volume of 40,366 shares, compared to its average volume of 32,746. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $192.99 million, a PE ratio of 9.31 and a beta of 0.65. The company's 50 day simple moving average is $12.02 and its 200-day simple moving average is $14.25. OP Bancorp has a 12-month low of $9.28 and a 12-month high of $18.57.

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, topping analysts' consensus estimates of $0.30 by $0.07. OP Bancorp had a return on equity of 10.64% and a net margin of 13.68%. The company had revenue of $22.23 million for the quarter, compared to analysts' expectations of $21.25 million. On average, research analysts predict that OP Bancorp will post 1.9 EPS for the current fiscal year.

OP Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Thursday, May 8th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date is Thursday, May 8th. OP Bancorp's payout ratio is 33.80%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods cut their target price on OP Bancorp from $19.00 to $18.00 and set a "market perform" rating on the stock in a research report on Monday, January 27th.

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.