OP Bancorp $OPBK Shares Sold by Rhino Investment Partners Inc

Key Points

• Rhino Investment Partners Inc reduced its stake in OP Bancorp by 30.8% in Q1, owning 391,390 shares following the sale of 174,104 shares.
• OP Bancorp has seen a significant increase in investment, with Bank of America Corp DE raising its holdings by 880.9% in Q4, currently holding 5,758 shares valued at $91,000.
• The company announced a quarterly dividend of $0.12 per share, representing a 3.5% yield, with payments scheduled for August 21st.

Rhino Investment Partners Inc trimmed its position in shares of OP Bancorp (NASDAQ:OPBK - Free Report) by 30.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 391,390 shares of the company's stock after selling 174,104 shares during the period. OP Bancorp makes up about 1.2% of Rhino Investment Partners Inc's holdings, making the stock its 28th biggest holding. Rhino Investment Partners Inc owned 2.62% of OP Bancorp worth $4,705,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Cubist Systematic Strategies LLC acquired a new position in OP Bancorp in the fourth quarter valued at $68,000. Bank of America Corp DE raised its holdings in shares of 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 purchasing an additional 5,171 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of OP Bancorp in the 4th quarter valued at about $95,000. Barclays PLC lifted its stake in shares of OP Bancorp by 116.2% in the 4th quarter. Barclays PLC now owns 10,046 shares of the company's stock valued at $159,000 after purchasing an additional 5,399 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in shares of OP Bancorp during the 4th quarter worth about $274,000. 53.63% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods raised their price target on shares of OP Bancorp from $15.00 to $15.50 and gave the company a "market perform" rating in a report on Monday, July 28th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $15.50.

OP Bancorp Price Performance

Shares of NASDAQ OPBK opened at $13.79 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.00 and a quick ratio of 1.00. OP Bancorp has a 1-year low of $10.43 and a 1-year high of $18.57. The company has a market capitalization of $205.33 million, a price-to-earnings ratio of 9.32 and a beta of 0.70. The business has a 50-day moving average of $13.11 and a 200-day moving average of $12.77.

OP Bancorp (NASDAQ:OPBK - Get Free Report) last announced its earnings results on Thursday, July 24th. The company reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. The business had revenue of $23.69 million for the quarter, compared to the consensus estimate of $22.85 million. OP Bancorp had a return on equity of 10.72% and a net margin of 13.91%. On average, equities analysts anticipate that OP Bancorp will post 1.9 EPS for the current fiscal year.

OP Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Thursday, August 7th. OP Bancorp's payout ratio is presently 32.43%.

OP Bancorp 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.

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