Truffle Hound Capital LLC Has $6.73 Million Stock Holdings in OP Bancorp (NASDAQ:OPBK)

Key Points

• Truffle Hound Capital LLC reduced its holdings in OP Bancorp by 3.4% during the first quarter, owning 560,000 shares after selling 20,000 shares.
• OP Bancorp reported earnings of $0.42 per share, meeting analysts' expectations, alongside revenue of $23.69 million in its most recent quarterly results.
• The company announced a quarterly dividend of $0.12 per share, with an annualized yield of 3.8%, set to be paid on August 21st to stockholders of record on August 7th.

Truffle Hound Capital LLC decreased its holdings in shares of OP Bancorp (NASDAQ:OPBK - Free Report) by 3.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 560,000 shares of the company's stock after selling 20,000 shares during the quarter. OP Bancorp comprises approximately 2.4% of Truffle Hound Capital LLC's holdings, making the stock its 9th biggest holding. Truffle Hound Capital LLC owned approximately 3.75% of OP Bancorp worth $6,731,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in OPBK. Bridgeway Capital Management LLC lifted its position in shares of OP Bancorp by 0.4% in the 4th quarter. Bridgeway Capital Management LLC now owns 228,379 shares of the company's stock valued at $3,611,000 after acquiring an additional 915 shares in the last quarter. Ancora Advisors LLC lifted its holdings in OP Bancorp by 3.8% during the 4th quarter. Ancora Advisors LLC now owns 118,090 shares of the company's stock valued at $1,867,000 after purchasing an additional 4,280 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in OP Bancorp in the 4th quarter valued at about $68,000. Bank of America Corp DE grew its position in shares of OP Bancorp by 880.9% during 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. Finally, Barclays PLC lifted its stake in OP Bancorp by 116.2% in the fourth quarter. Barclays PLC now owns 10,046 shares of the company's stock valued at $159,000 after buying an additional 5,399 shares in the last quarter. Institutional investors and hedge funds own 53.63% of the company's stock.

OP Bancorp Stock Performance

Shares of OP Bancorp stock remained flat at $12.80 during midday trading on Friday. The company had a trading volume of 78,549 shares, compared to its average volume of 76,140. OP Bancorp has a one year low of $10.43 and a one year high of $18.57. The company has a market capitalization of $190.08 million, a P/E ratio of 8.65 and a beta of 0.70. The company's 50 day moving average is $12.86 and its 200 day moving average is $12.88. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.01 and a current ratio of 1.01.

OP Bancorp (NASDAQ:OPBK - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The company reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. OP Bancorp had a return on equity of 10.81% and a net margin of 13.91%. The firm had revenue of $23.69 million during the quarter, compared to analyst estimates of $22.85 million. On average, equities analysts anticipate that OP Bancorp will post 1.9 earnings per share for the current fiscal year.

OP Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Thursday, August 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.8%. OP Bancorp's payout ratio is currently 32.43%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods increased their price objective on shares of OP Bancorp from $15.00 to $15.50 and gave the company a "market perform" rating in a research note on Monday, July 28th.

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.