Millennium Management LLC Has $1.10 Million Position in OP Bancorp (NASDAQ:OPBK)

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

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC acquired a new position in shares of OP Bancorp during the 4th quarter valued at $68,000. Bank of America Corp DE grew its holdings in OP Bancorp by 880.9% during the fourth quarter. Bank of America Corp DE now owns 5,758 shares of the company's stock worth $91,000 after acquiring an additional 5,171 shares during the period. Barclays PLC raised its position in OP Bancorp by 116.2% in the fourth quarter. Barclays PLC now owns 10,046 shares of the company's stock worth $159,000 after acquiring an additional 5,399 shares in the last quarter. Schonfeld Strategic Advisors LLC acquired a new stake in OP Bancorp in the 4th quarter valued at about $274,000. Finally, Jane Street Group LLC acquired a new stake in OP Bancorp in the 4th quarter valued at about $320,000. Institutional investors own 53.63% of the company's stock.

OP Bancorp Price Performance

Shares of NASDAQ OPBK traded up $0.32 during midday trading on Friday, reaching $12.34. The company's stock had a trading volume of 51,549 shares, compared to its average volume of 34,459. OP Bancorp has a one year low of $9.28 and a one year high of $18.57. The company has a 50 day moving average price of $12.13 and a 200 day moving average price of $13.87. The company has a market cap 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.

OP Bancorp (NASDAQ:OPBK - Get Free Report) last announced 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. OP Bancorp had a return on equity of 10.64% and a net margin of 13.68%. The company had revenue of $22.23 million for the quarter, compared to analyst estimates of $21.25 million. On average, equities research analysts expect that OP Bancorp will post 1.9 EPS for the current year.

OP Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 8th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date of this dividend was Thursday, May 8th. OP Bancorp's dividend payout ratio is 33.80%.

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.