Bank of New York Mellon Corp Acquires 19,243 Shares of OP Bancorp (NASDAQ:OPBK)

Bank of New York Mellon Corp boosted its holdings in OP Bancorp (NASDAQ:OPBK) by 139.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,024 shares of the company’s stock after purchasing an additional 19,243 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.22% of OP Bancorp worth $522,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Barclays PLC bought a new stake in OP Bancorp during the 3rd quarter valued at $58,000. Ritholtz Wealth Management lifted its holdings in shares of OP Bancorp by 10.4% during the 4th quarter. Ritholtz Wealth Management now owns 39,688 shares of the company’s stock valued at $627,000 after purchasing an additional 3,740 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of OP Bancorp by 18.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 61,467 shares of the company’s stock worth $767,000 after purchasing an additional 9,447 shares in the last quarter. Empowered Funds LLC grew its stake in shares of OP Bancorp by 5.2% during the fourth quarter. Empowered Funds LLC now owns 52,929 shares of the company’s stock worth $837,000 after acquiring an additional 2,615 shares during the last quarter. Finally, Fourthstone LLC acquired a new position in OP Bancorp during the 3rd quarter valued at approximately $1,448,000. Institutional investors own 53.63% of the company’s stock.

OP Bancorp Stock Down 0.1 %

OPBK stock opened at $12.14 on Friday. OP Bancorp has a 12 month low of $8.91 and a 12 month high of $18.57. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37. The company has a market cap of $179.82 million, a price-to-earnings ratio of 8.73 and a beta of 0.60. The firm has a 50-day moving average of $13.53 and a two-hundred day moving average of $14.40.

OP Bancorp (NASDAQ:OPBK) last posted its earnings results on Thursday, January 23rd. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). OP Bancorp had a net margin of 13.68% and a return on equity of 10.64%. As a group, analysts forecast that OP Bancorp will post 1.9 earnings per share for the current fiscal year.

OP Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were issued a $0.12 dividend. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.95%. OP Bancorp’s payout ratio is currently 34.53%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods lowered their target price on OP Bancorp from $19.00 to $18.00 and set a “market perform” rating on the stock in a research note on Monday, January 27th.

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.