Russell Investments Group Ltd. Acquires 11,547 Shares of OP Bancorp $OPBK

Russell Investments Group Ltd. increased its holdings in OP Bancorp (NASDAQ:OPBK) by 18.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 74,837 shares of the company’s stock after purchasing an additional 11,547 shares during the period. Russell Investments Group Ltd. owned approximately 0.50% of OP Bancorp worth $900,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of OPBK. Raymond James Financial Inc. bought a new stake in OP Bancorp in the fourth quarter worth $1,568,000. Barclays PLC increased its position in OP Bancorp by 116.2% in the fourth quarter. Barclays PLC now owns 10,046 shares of the company’s stock worth $159,000 after purchasing an additional 5,399 shares during the last quarter. Dimensional Fund Advisors LP increased its position in OP Bancorp by 3.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 514,902 shares of the company’s stock worth $8,140,000 after purchasing an additional 18,709 shares during the last quarter. Susquehanna International Group LLP increased its position in OP Bancorp by 161.3% in the fourth quarter. Susquehanna International Group LLP now owns 156,342 shares of the company’s stock worth $2,472,000 after purchasing an additional 96,519 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC bought a new stake in OP Bancorp in the fourth quarter worth $274,000. Institutional investors own 53.63% of the company’s stock.

OP Bancorp Trading Up 3.0%

OPBK stock opened at $14.54 on Friday. 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 has a twelve month low of $10.43 and a twelve month high of $18.57. The stock has a market capitalization of $216.50 million, a price-to-earnings ratio of 9.82 and a beta of 0.70. The firm’s fifty day simple moving average is $13.43 and its two-hundred day simple moving average is $12.76.

OP Bancorp (NASDAQ:OPBK) last posted its quarterly earnings data on Thursday, July 24th. The company reported $0.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.42. The business had revenue of $23.69 million for the quarter, compared to analysts’ expectations of $22.85 million. OP Bancorp had a net margin of 13.91% and a return on equity of 10.72%. As a group, analysts anticipate that OP Bancorp will post 1.9 earnings per share for the current year.

OP Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th were issued a $0.12 dividend. The ex-dividend date was Thursday, August 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.3%. OP Bancorp’s dividend payout ratio is presently 32.43%.

Wall Street Analysts Forecast Growth

OPBK has been the topic of several research reports. Zacks Research cut shares of OP Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 22nd. Keefe, Bruyette & Woods boosted their price objective on shares of OP Bancorp from $15.00 to $15.50 and gave the company a “market perform” rating in a research report on Monday, July 28th. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, OP Bancorp presently has an average rating of “Hold” and an average price target of $15.50.

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.