Bank of New York Mellon Corp Has $385,000 Position in OP Bancorp (NASDAQ:OPBK)

Bank of New York Mellon Corp cut its stake in OP Bancorp (NASDAQ:OPBK) by 2.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,051 shares of the company’s stock after selling 973 shares during the period. Bank of New York Mellon Corp owned 0.21% of OP Bancorp worth $385,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Cubist Systematic Strategies LLC bought a new stake in OP Bancorp in the fourth quarter valued at approximately $68,000. Bank of America Corp DE boosted its holdings in OP Bancorp by 880.9% in the fourth quarter. Bank of America Corp DE now owns 5,758 shares of the company’s stock valued at $91,000 after acquiring an additional 5,171 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in OP Bancorp in the fourth quarter valued at approximately $95,000. Barclays PLC boosted its holdings in OP Bancorp by 116.2% in the fourth quarter. Barclays PLC now owns 10,046 shares of the company’s stock valued at $159,000 after acquiring an additional 5,399 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC bought a new stake in OP Bancorp in the fourth quarter valued at approximately $274,000. 53.63% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods upped their target price on OP Bancorp from $15.00 to $15.50 and gave the company a “market perform” rating in a report on Monday, July 28th.

OP Bancorp Price Performance

OP Bancorp stock opened at $12.77 on Tuesday. The stock has a market capitalization of $189.63 million, a price-to-earnings ratio of 8.63 and a beta of 0.70. OP Bancorp has a 52-week low of $10.43 and a 52-week high of $18.57. The stock’s 50 day moving average price is $12.86 and its two-hundred day moving average price is $12.86. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.01 and a current ratio of 1.01.

OP Bancorp (NASDAQ:OPBK) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.42. The firm had revenue of $23.69 million for the quarter, compared to analysts’ expectations of $22.85 million. OP Bancorp had a return on equity of 10.81% and a net margin of 13.91%. On average, equities analysts predict that OP Bancorp will post 1.9 earnings per share for the current year.

OP Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Thursday, August 7th. OP Bancorp’s dividend payout ratio is presently 32.43%.

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.