Millennium Management LLC Boosts Stock Position in OP Bancorp (NASDAQ:OPBK)

Millennium Management LLC grew its position in OP Bancorp (NASDAQ:OPBK - Free Report) by 96.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 69,481 shares of the company's stock after acquiring an additional 34,054 shares during the quarter. Millennium Management LLC owned 0.47% of OP Bancorp worth $1,098,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Truffle Hound Capital LLC bought a new position in shares of OP Bancorp during the 4th quarter valued at approximately $9,170,000. Raymond James Financial Inc. bought a new position in shares of OP Bancorp during the 4th quarter valued at approximately $1,568,000. Cubist Systematic Strategies LLC bought a new position in shares of OP Bancorp during the 4th quarter valued at approximately $68,000. Royce & Associates LP bought a new position in shares of OP Bancorp during the 4th quarter valued at approximately $1,494,000. Finally, Empowered Funds LLC increased its position in shares of OP Bancorp by 5.2% during the 4th quarter. Empowered Funds LLC now owns 52,929 shares of the company's stock valued at $837,000 after purchasing an additional 2,615 shares during the last quarter. Institutional investors own 53.63% of the company's stock.

OP Bancorp Trading Up 2.7%

Shares of NASDAQ OPBK traded up $0.32 during trading hours on Friday, hitting $12.34. 51,549 shares of the company traded hands, compared to its average volume of 34,520. The stock has a market capitalization of $183.24 million, a price-to-earnings ratio of 8.88 and a beta of 0.65. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37. The company's 50 day moving average price is $12.14 and its 200 day moving average price is $13.80. 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 released its earnings results on Thursday, April 24th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.07. The firm had revenue of $22.23 million for the quarter, compared to the consensus estimate of $21.25 million. OP Bancorp had a return on equity of 10.64% and a net margin of 13.68%. On average, equities research analysts anticipate that OP Bancorp will post 1.9 earnings per share for the current fiscal year.

OP Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 8th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 3.89%. The ex-dividend date was Thursday, May 8th. OP Bancorp's dividend payout ratio is currently 33.80%.

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.