Ritholtz Wealth Management Sells 18,833 Shares of OP Bancorp $OPBK

Ritholtz Wealth Management reduced its stake in OP Bancorp (NASDAQ:OPBK) by 59.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,615 shares of the company’s stock after selling 18,833 shares during the period. Ritholtz Wealth Management owned approximately 0.08% of OP Bancorp worth $164,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in OPBK. Bank of America Corp DE boosted its holdings in shares of OP Bancorp by 880.9% in the fourth quarter. Bank of America Corp DE now owns 5,758 shares of the company’s stock worth $91,000 after acquiring an additional 5,171 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of OP Bancorp by 2.0% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 88,928 shares of the company’s stock worth $1,069,000 after buying an additional 1,763 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of OP Bancorp by 18.2% in the first quarter. Russell Investments Group Ltd. now owns 74,837 shares of the company’s stock worth $900,000 after buying an additional 11,547 shares in the last quarter. Trexquant Investment LP purchased a new stake in shares of OP Bancorp in the first quarter worth $177,000. Finally, Amundi purchased a new stake in shares of OP Bancorp in the first quarter worth $26,000. 53.63% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on OPBK. Weiss Ratings reiterated a “buy (b-)” rating on shares of OP Bancorp in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods increased 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. Finally, Zacks Research downgraded OP Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 22nd. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, OP Bancorp presently has a consensus rating of “Hold” and a consensus target price of $15.50.

OP Bancorp Trading Up 0.7%

NASDAQ OPBK opened at $13.54 on Wednesday. The stock’s 50-day simple moving average is $14.01 and its two-hundred day simple moving average is $13.08. OP Bancorp has a twelve month low of $10.43 and a twelve month high of $18.57. The company has a market capitalization of $201.61 million, a price-to-earnings ratio of 9.15 and a beta of 0.70. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.23.

OP Bancorp (NASDAQ:OPBK) last announced its quarterly earnings data on Thursday, July 24th. The company reported $0.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.42. OP Bancorp had a return on equity of 10.72% and a net margin of 13.91%.The firm had revenue of $23.69 million for the quarter, compared to analysts’ expectations of $22.85 million. Research analysts forecast 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, August 21st. Stockholders of record on Thursday, August 7th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Thursday, August 7th. OP Bancorp’s dividend payout ratio (DPR) is 32.43%.

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.