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 decreased its position in OP Bancorp (NASDAQ:OPBK - Free Report) by 30.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 391,390 shares of the company's stock after selling 174,104 shares during the quarter. OP Bancorp accounts for approximately 1.2% of Rhino Investment Partners Inc's portfolio, making the stock its 28th largest position. Rhino Investment Partners Inc owned about 2.62% of OP Bancorp worth $4,705,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its position in OP Bancorp by 3.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 514,902 shares of the company's stock valued at $8,140,000 after purchasing an additional 18,709 shares during the period. Bridgeway Capital Management LLC raised its position in OP Bancorp by 0.4% in the fourth quarter. Bridgeway Capital Management LLC now owns 228,379 shares of the company's stock valued at $3,611,000 after purchasing an additional 915 shares during the period. Susquehanna International Group LLP raised its position in OP Bancorp by 161.3% in the fourth quarter. Susquehanna International Group LLP now owns 156,342 shares of the company's stock valued at $2,472,000 after purchasing an additional 96,519 shares during the period. Ancora Advisors LLC raised its position in OP Bancorp by 3.8% in the fourth 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 period. Finally, Raymond James Financial Inc. purchased a new stake in OP Bancorp in the fourth quarter valued at approximately $1,568,000. Hedge funds and other institutional investors own 53.63% of the company's stock.

OP Bancorp Stock Up 1.5%

Shares of OPBK stock traded up $0.21 on Tuesday, reaching $14.27. 14,405 shares of the stock were exchanged, compared to its average volume of 61,206. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.23. The business's 50 day moving average price is $13.23 and its 200 day moving average price is $12.74. The company has a market capitalization of $212.41 million, a price-to-earnings ratio of 9.64 and a beta of 0.70. OP Bancorp has a twelve month low of $10.43 and a twelve month high of $18.57.

OP Bancorp (NASDAQ:OPBK - Get Free Report) last issued its earnings results on Thursday, July 24th. The company reported $0.42 EPS for the quarter, hitting analysts' consensus estimates of $0.42. The firm had revenue of $23.69 million during the quarter, compared to the consensus estimate of $22.85 million. OP Bancorp had a net margin of 13.91% and a return on equity of 10.72%. As a group, sell-side analysts expect that OP Bancorp will post 1.9 earnings per share for the current fiscal year.

OP Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 7th were paid a dividend of $0.12 per share. The ex-dividend date was Thursday, August 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.4%. OP Bancorp's payout ratio is presently 32.43%.

Wall Street Analysts Forecast Growth

OPBK has been the topic of a number of recent research reports. Keefe, Bruyette & Woods upped their price objective on OP Bancorp from $15.00 to $15.50 and gave the stock a "market perform" rating in a research report on Monday, July 28th. Zacks Research lowered OP Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Friday. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $15.50.

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.