Connor Clark & Lunn Investment Management Ltd. Increases Holdings in OP Bancorp $OPBK

Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of OP Bancorp (NASDAQ:OPBK) by 45.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 129,342 shares of the company’s stock after buying an additional 40,414 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.87% of OP Bancorp worth $1,680,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Empowered Funds LLC boosted its position in shares of OP Bancorp by 3.5% during the 1st quarter. Empowered Funds LLC now owns 54,763 shares of the company’s stock valued at $658,000 after acquiring an additional 1,834 shares during the last quarter. Amundi purchased a new stake in shares of OP Bancorp in the 1st quarter valued at approximately $26,000. Bank of America Corp DE increased its holdings in shares of OP Bancorp by 880.9% during the 4th quarter. Bank of America Corp DE now owns 5,758 shares of the company’s stock worth $91,000 after buying an additional 5,171 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of OP Bancorp during the 2nd quarter valued at approximately $92,000. Finally, Russell Investments Group Ltd. lifted its holdings in OP Bancorp by 18.2% in the first quarter. Russell Investments Group Ltd. now owns 74,837 shares of the company’s stock valued at $900,000 after acquiring an additional 11,547 shares during the last quarter. 53.63% of the stock is owned by institutional investors and hedge funds.

OP Bancorp Stock Performance

Shares of OPBK stock opened at $13.20 on Monday. The company has a market cap of $196.55 million, a P/E ratio of 8.41 and a beta of 0.74. The firm has a fifty day moving average price of $13.76 and a 200 day moving average price of $13.34. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.34. OP Bancorp has a 12 month low of $10.43 and a 12 month high of $18.57.

OP Bancorp (NASDAQ:OPBK) last announced its quarterly earnings results on Thursday, October 23rd. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. The company had revenue of $24.48 million during the quarter, compared to the consensus estimate of $24.25 million. OP Bancorp had a return on equity of 11.09% and a net margin of 14.42%. Sell-side analysts predict that OP Bancorp will post 1.9 earnings per share for the current fiscal year.

OP Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Thursday, November 6th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Thursday, November 6th. OP Bancorp’s dividend payout ratio is 30.57%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on OPBK. DA Davidson raised their target price on OP Bancorp from $16.50 to $17.00 and gave the stock a “buy” rating in a research note on Tuesday, October 28th. Keefe, Bruyette & Woods boosted their price objective on shares of OP Bancorp from $15.50 to $16.00 and gave the company a “market perform” rating in a report on Monday, October 27th. Zacks Research raised shares of OP Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 29th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of OP Bancorp in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.50.

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.