Acadian Asset Management LLC Increases Stock Holdings in 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 grew its stake in shares of OP Bancorp (NASDAQ:OPBK - Free Report) by 15.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 271,112 shares of the company's stock after acquiring an additional 35,708 shares during the quarter. Acadian Asset Management LLC owned about 1.83% of OP Bancorp worth $3,254,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of OPBK. Amundi acquired a new position in OP Bancorp in the 1st quarter worth approximately $26,000. Cubist Systematic Strategies LLC acquired a new position in OP Bancorp in the 4th quarter worth approximately $68,000. Bank of America Corp DE increased its holdings in OP Bancorp by 880.9% in the 4th quarter. Bank of America Corp DE now owns 5,758 shares of the company's stock worth $91,000 after buying an additional 5,171 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in OP Bancorp in the 4th quarter worth approximately $95,000. Finally, Trexquant Investment LP acquired a new position in OP Bancorp in the 1st quarter worth approximately $177,000. Institutional investors and hedge funds own 53.63% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on OPBK. Zacks Research downgraded shares of OP Bancorp from a "strong-buy" rating to a "hold" rating in a report on Friday, August 22nd. Keefe, Bruyette & Woods increased their price target on shares of OP Bancorp from $15.00 to $15.50 and gave the stock a "market perform" rating in a report on Monday, July 28th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $15.50.

OP Bancorp Stock Performance

Shares of NASDAQ OPBK traded up $0.19 during midday trading on Friday, reaching $14.73. 167,117 shares of the stock were exchanged, compared to its average volume of 39,211. The firm has a market cap of $219.33 million, a price-to-earnings ratio of 9.95 and a beta of 0.74. OP Bancorp has a twelve month low of $10.43 and a twelve month high of $18.57. The firm has a 50-day simple moving average of $13.80 and a two-hundred day simple moving average of $12.84. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.23.

OP Bancorp (NASDAQ:OPBK - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The company reported $0.42 EPS for the quarter, hitting analysts' consensus estimates of $0.42. The business had revenue of $23.69 million for the quarter, compared to analysts' expectations of $22.85 million. OP Bancorp had a net margin of 13.91% and a return on equity of 10.72%. As a group, analysts anticipate 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 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 (DPR) is presently 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.