Man Group plc Makes New Investment in OP Bancorp $OPBK

Key Points

• Man Group plc bought 96,016 shares of OP Bancorp worth approximately $1.44 million, giving it a 0.64% stake. Several other institutional investors also initiated positions, with institutions and hedge funds collectively owning 53.63% of the stock.
• Analyst sentiment is generally positive: OP Bancorp has an average “Buy” rating and a consensus price target of $17.75, compared with a recent share price of $15.17.
• OP Bancorp exceeded quarterly earnings expectations, reporting $0.53 in earnings per share versus the $0.44 consensus estimate. The company also pays a quarterly dividend of $0.14 per share, representing a 3.7% annualized yield.

Man Group plc bought a new position in OP Bancorp (NASDAQ:OPBK - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 96,016 shares of the company's stock, valued at approximately $1,439,000. Man Group plc owned approximately 0.64% of OP Bancorp at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in OPBK. Hsbc Holdings PLC purchased a new stake in shares of OP Bancorp in the 2nd quarter valued at approximately $319,000. Ancora Advisors LLC purchased a new position in OP Bancorp during the 2nd quarter worth approximately $481,000. The Manufacturers Life Insurance Company purchased a new position in OP Bancorp during the 2nd quarter worth approximately $8,416,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in OP Bancorp during the 2nd quarter valued at $2,346,000. Finally, Diversify Advisory Services LLC acquired a new stake in OP Bancorp during the 2nd quarter valued at $28,733,000. Institutional investors and hedge funds own 53.63% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Zacks Research raised OP Bancorp from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 29th. Keefe, Bruyette & Woods lifted their price target on OP Bancorp from $17.00 to $17.50 and gave the company a "market perform" rating in a report on Monday, July 27th. Weiss Ratings raised OP Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, June 18th. Wall Street Zen downgraded OP Bancorp from a "buy" rating to a "hold" rating in a research note on Saturday, August 15th. Finally, DA Davidson raised their price objective on OP Bancorp from $17.00 to $18.00 and gave the stock a "buy" rating in a research report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, OP Bancorp presently has an average rating of "Buy" and a consensus target price of $17.75.

OP Bancorp Stock Performance

OPBK stock opened at $15.17 on Thursday. The firm has a 50 day moving average of $15.27 and a two-hundred day moving average of $14.36. OP Bancorp has a 12 month low of $12.41 and a 12 month high of $16.83. The company has a market capitalization of $226.49 million, a price-to-earnings ratio of 7.86 and a beta of 0.60. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.42.

OP Bancorp (NASDAQ:OPBK - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The company reported $0.53 earnings per share for the quarter, beating analysts' consensus estimates of $0.44 by $0.09. OP Bancorp had a net margin of 16.87% and a return on equity of 12.59%. The business had revenue of $25.72 million for the quarter, compared to the consensus estimate of $25.15 million. As a group, equities analysts anticipate that OP Bancorp will post 2.06 EPS for the current fiscal year.

OP Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 3.7%. The ex-dividend date was Thursday, August 6th. OP Bancorp's dividend payout ratio (DPR) is 29.02%.

OP Bancorp Profile

OP Bancorp is the bank holding company for Old Point National Bank, a community-focused financial institution headquartered in Suffolk, Virginia. Through its subsidiary, the company offers a broad range of commercial and consumer banking services designed to meet the needs of businesses, professionals and individuals across the Hampton Roads and Virginia Peninsula regions. Core services include business lending, real estate financing, deposit accounts, cash management solutions and treasury services.

The company's lending portfolio spans commercial real estate loans, construction and land development financing, equipment loans and lines of credit tailored for small and medium-sized enterprises.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.