Rhino Investment Partners Inc Grows Stock Holdings in OP Bancorp (NASDAQ:OPBK)

Rhino Investment Partners Inc boosted its position in shares of OP Bancorp (NASDAQ:OPBK - Free Report) by 18.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 565,494 shares of the company's stock after acquiring an additional 88,869 shares during the quarter. OP Bancorp accounts for approximately 2.0% of Rhino Investment Partners Inc's investment portfolio, making the stock its 21st biggest position. Rhino Investment Partners Inc owned 3.82% of OP Bancorp worth $8,940,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Empowered Funds LLC boosted its stake in shares of OP Bancorp by 5.2% in the fourth 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 period. Geode Capital Management LLC boosted its position in OP Bancorp by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 118,203 shares of the company's stock valued at $1,476,000 after buying an additional 2,948 shares during the period. Ritholtz Wealth Management grew its stake in shares of OP Bancorp by 10.4% in the fourth quarter. Ritholtz Wealth Management now owns 39,688 shares of the company's stock worth $627,000 after acquiring an additional 3,740 shares in the last quarter. Barclays PLC acquired a new position in shares of OP Bancorp in the third quarter worth $58,000. Finally, O Shaughnessy Asset Management LLC increased its position in shares of OP Bancorp by 19.4% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 75,739 shares of the company's stock worth $1,197,000 after acquiring an additional 12,286 shares during the period. 53.63% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods lowered their price target on shares of OP Bancorp from $19.00 to $18.00 and set a "market perform" rating for the company in a report on Monday, January 27th.

OP Bancorp Stock Up 2.9 %

OP Bancorp stock traded up $0.37 during midday trading on Friday, reaching $13.16. The company's stock had a trading volume of 61,281 shares, compared to its average volume of 32,715. The business has a 50-day simple moving average of $12.02 and a 200-day simple moving average of $14.24. The company has a market cap of $196.27 million, a P/E ratio of 9.47 and a beta of 0.65. OP Bancorp has a fifty-two week low of $9.28 and a fifty-two week high of $18.57. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.37.

OP Bancorp (NASDAQ:OPBK - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.30 by $0.07. OP Bancorp had a net margin of 13.68% and a return on equity of 10.64%. The company had revenue of $22.23 million for the quarter, compared to analyst estimates of $21.25 million. On average, research 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 declared a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Thursday, May 8th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.65%. The ex-dividend date is Thursday, May 8th. OP Bancorp's dividend payout ratio (DPR) 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.