OP Bancorp $OPBK Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. grew its position in shares of OP Bancorp (NASDAQ:OPBK) by 45.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 129,342 shares of the company’s stock after purchasing an additional 40,414 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in OP Bancorp were worth $1,680,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in OPBK. Acadian Asset Management LLC grew its stake in OP Bancorp by 15.2% during the 1st quarter. Acadian Asset Management LLC now owns 271,112 shares of the company’s stock worth $3,254,000 after buying an additional 35,708 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings 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 valued at $900,000 after acquiring an additional 11,547 shares during the period. Goldman Sachs Group Inc. grew its position in shares of OP Bancorp by 45.9% during the first quarter. Goldman Sachs Group Inc. now owns 62,824 shares of the company’s stock worth $755,000 after acquiring an additional 19,758 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of OP Bancorp by 3.5% in 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 period. Finally, Jane Street Group LLC raised its position in OP Bancorp by 124.6% in the 1st quarter. Jane Street Group LLC now owns 45,394 shares of the company’s stock valued at $546,000 after purchasing an additional 25,181 shares during the last quarter. 53.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

OP Bancorp Stock Performance

Shares of NASDAQ OPBK opened at $13.20 on Monday. The company has a 50-day simple moving average of $13.76 and a 200-day simple moving average of $13.34. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market cap of $196.55 million, a PE ratio of 8.41 and a beta of 0.74. 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 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 firm had revenue of $24.48 million for the quarter, compared to analyst estimates of $24.25 million. OP Bancorp had a net margin of 14.42% and a return on equity of 11.09%. On average, equities analysts anticipate that OP Bancorp will post 1.9 earnings per share for the current year.

OP Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Thursday, November 6th will be issued a dividend of $0.12 per share. The ex-dividend date is Thursday, November 6th. This represents a $0.48 annualized dividend and a dividend yield of 3.6%. OP Bancorp’s dividend payout ratio (DPR) is 30.57%.

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.