Raymond James Financial Inc. Makes New $1.57 Million Investment in OP Bancorp (NASDAQ:OPBK)

Raymond James Financial Inc. bought a new position in shares of OP Bancorp (NASDAQ:OPBK - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm 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 SEC.

A number of other institutional investors have also recently bought and sold shares of OPBK. Truffle Hound Capital LLC bought a new stake in shares of OP Bancorp in the fourth quarter valued at about $9,170,000. Royce & Associates LP acquired a new position in OP Bancorp during the 4th quarter worth approximately $1,494,000. Connor Clark & Lunn Investment Management Ltd. grew 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 worth $1,378,000 after acquiring an additional 25,698 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of OP Bancorp by 139.6% in the fourth quarter. Bank of New York Mellon Corp now owns 33,024 shares of the company's stock valued at $522,000 after purchasing an additional 19,243 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC lifted 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 purchasing an additional 12,286 shares in the last quarter. Institutional investors own 53.63% of the company's stock.

OP Bancorp Stock Performance

OP Bancorp stock traded up $0.17 during midday trading on Thursday, reaching $12.65. 6,285 shares of the company's stock were exchanged, compared to its average volume of 40,095. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.00 and a current ratio of 1.00. The stock's 50-day simple moving average is $11.99 and its 200 day simple moving average is $14.22. The firm has a market cap of $188.66 million, a price-to-earnings ratio of 9.10 and a beta of 0.65. OP Bancorp has a 52 week low of $9.28 and a 52 week high of $18.57.

OP Bancorp (NASDAQ:OPBK - Get Free Report) last posted its earnings results on Thursday, April 24th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.30 by $0.07. The company had revenue of $22.23 million during the quarter, compared to analysts' expectations of $21.25 million. OP Bancorp had a net margin of 13.68% and a return on equity of 10.64%. On average, analysts expect that OP Bancorp will post 1.9 earnings per share for the current fiscal year.

OP Bancorp Announces Dividend

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. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $0.48 annualized dividend and a yield of 3.79%. OP Bancorp's payout ratio is currently 33.80%.

Wall Street Analyst Weigh In

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 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.