OP Bancorp (NASDAQ:OPBK) Sees Significant Increase in Short Interest

OP Bancorp (NASDAQ:OPBK - Get Free Report) saw a significant increase in short interest in the month of May. As of May 15th, there was short interest totalling 28,500 shares, an increase of 41.1% from the April 30th total of 20,200 shares. Based on an average trading volume of 48,100 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.3% of the shares of the company are sold short.

Institutional Investors Weigh In On OP Bancorp

Institutional investors have recently bought and sold shares of the stock. Truffle Hound Capital LLC acquired a new stake in OP Bancorp in the fourth quarter worth about $9,170,000. Raymond James Financial Inc. acquired a new stake in OP Bancorp in the fourth quarter worth about $1,568,000. Cubist Systematic Strategies LLC acquired a new stake in OP Bancorp in the fourth quarter worth about $68,000. Millennium Management LLC lifted its holdings in OP Bancorp by 96.1% in the fourth quarter. Millennium Management LLC now owns 69,481 shares of the company's stock worth $1,098,000 after purchasing an additional 34,054 shares during the period. Finally, Royce & Associates LP acquired a new stake in OP Bancorp in the fourth quarter worth about $1,494,000. Institutional investors and hedge funds own 53.63% of the company's stock.

OP Bancorp Stock Performance

Shares of OPBK traded up $0.08 during midday trading on Thursday, hitting $12.02. 61,043 shares of the stock traded hands, compared to its average volume of 34,391. OP Bancorp has a 1-year low of $9.28 and a 1-year high of $18.57. The firm has a market capitalization of $178.48 million, a PE ratio of 8.65 and a beta of 0.65. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.00 and a current ratio of 1.00. The business's 50 day moving average price is $12.13 and its two-hundred day moving average price is $13.87.

OP Bancorp (NASDAQ:OPBK - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $0.37 earnings per share (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 during the quarter, compared to the consensus estimate of $21.25 million. Equities research analysts predict that OP Bancorp will post 1.9 EPS for the current fiscal year.

OP Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 8th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 3.99%. The ex-dividend date was Thursday, May 8th. OP Bancorp's payout ratio is currently 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.