D.A. Davidson & CO. Reduces Stock Holdings in OP Bancorp (NASDAQ:OPBK)

D.A. Davidson & CO. lowered its position in OP Bancorp (NASDAQ:OPBK) by 7.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,987 shares of the company’s stock after selling 2,193 shares during the quarter. D.A. Davidson & CO. owned 0.19% of OP Bancorp worth $442,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in OPBK. Barclays PLC purchased a new position in shares of OP Bancorp in the third quarter valued at $58,000. Ritholtz Wealth Management increased its position 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 valued at $627,000 after buying an additional 3,740 shares in the last quarter. Empowered Funds LLC increased its position in shares of OP Bancorp by 5.3% in the third quarter. Empowered Funds LLC now owns 50,314 shares of the company’s stock valued at $628,000 after buying an additional 2,546 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of OP Bancorp by 18.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 61,467 shares of the company’s stock valued at $767,000 after buying an additional 9,447 shares in the last quarter. Finally, Fourthstone LLC purchased a new position in shares of OP Bancorp in the third quarter valued at $1,448,000. Hedge funds and other institutional investors own 53.63% of the company’s stock.

OP Bancorp Stock Up 1.0 %

OPBK opened at $13.34 on Wednesday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.37. The firm has a market cap of $197.59 million, a P/E ratio of 9.60 and a beta of 0.64. OP Bancorp has a 52 week low of $8.91 and a 52 week high of $18.57. The business’s fifty day simple moving average is $14.91 and its 200 day simple moving average is $14.42.

OP Bancorp (NASDAQ:OPBK) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates 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, equities research analysts anticipate that OP Bancorp will post 1.9 EPS for the current fiscal year.

OP Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date of this dividend was Thursday, February 6th. OP Bancorp’s payout ratio is 34.53%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods decreased their price objective 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 Company 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.