Acadian Asset Management LLC Acquires 35,708 Shares of OP Bancorp $OPBK

Key Points

• Acadian Asset Management LLC increased its stake in OP Bancorp by 15.2%, acquiring an additional 35,708 shares to hold a total of 271,112 shares valued at approximately $3.25 million.
• Recent changes in institutional investments include significant boosts from firms like Jane Street Group LLC, which increased its stake by 124.6%, and Goldman Sachs Group Inc., which raised its position by 45.9%.
• OP Bancorp's latest earnings report showed an EPS of $0.42, meeting analysts' expectations, while a quarterly dividend of $0.12 per share reflects a 3.3% yield.

Acadian Asset Management LLC lifted its holdings in OP Bancorp (NASDAQ:OPBK - Free Report) by 15.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 271,112 shares of the company's stock after acquiring an additional 35,708 shares during the period. Acadian Asset Management LLC owned 1.83% of OP Bancorp worth $3,254,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Jane Street Group LLC boosted its stake in shares of OP Bancorp by 124.6% in the first quarter. Jane Street Group LLC now owns 45,394 shares of the company's stock worth $546,000 after acquiring an additional 25,181 shares during the period. Empowered Funds LLC boosted its stake in shares of OP Bancorp by 3.5% in 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 period. Goldman Sachs Group Inc. lifted its position in shares of OP Bancorp by 45.9% in the first quarter. Goldman Sachs Group Inc. now owns 62,824 shares of the company's stock worth $755,000 after buying an additional 19,758 shares in the last quarter. Amundi purchased a new stake in shares of OP Bancorp in the first quarter worth about $26,000. Finally, Trexquant Investment LP purchased a new stake in shares of OP Bancorp in the first quarter worth about $177,000. Institutional investors own 53.63% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Keefe, Bruyette & Woods boosted their target price on OP Bancorp from $15.00 to $15.50 and gave the stock a "market perform" rating in a research report on Monday, July 28th. Zacks Research downgraded OP Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 22nd. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $15.50.

OP Bancorp Trading Down 1.3%

OPBK opened at $14.46 on Monday. The stock has a market cap of $215.31 million, a price-to-earnings ratio of 9.77 and a beta of 0.74. The stock's 50 day moving average price is $13.72 and its 200-day moving average price is $12.78. OP Bancorp has a one year low of $10.43 and a one year high of $18.57. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.00 and a current ratio of 1.00.

OP Bancorp (NASDAQ:OPBK - Get Free Report) last released its earnings results on Thursday, July 24th. The company reported $0.42 EPS for the quarter, meeting analysts' consensus estimates of $0.42. The firm had revenue of $23.69 million for the quarter, compared to analysts' expectations of $22.85 million. OP Bancorp had a return on equity of 10.72% and a net margin of 13.91%. On average, equities analysts forecast that OP Bancorp will post 1.9 EPS for the current year.

OP Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.3%. OP Bancorp's dividend payout ratio is currently 32.43%.

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.

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