OP Bancorp $OPBK Shares Acquired by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. increased its position in shares of OP Bancorp (NASDAQ:OPBK) by 45.9% during the 1st quarter, Holdings Channel reports. The institutional investor owned 62,824 shares of the company’s stock after purchasing an additional 19,758 shares during the quarter. Goldman Sachs Group Inc.’s holdings in OP Bancorp were worth $755,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Acadian Asset Management LLC increased its stake in OP Bancorp by 15.2% during the first quarter. Acadian Asset Management LLC now owns 271,112 shares of the company’s stock worth $3,254,000 after acquiring an additional 35,708 shares during the last quarter. Millennium Management LLC grew its holdings in shares of OP Bancorp by 96.1% during the 4th quarter. Millennium Management LLC now owns 69,481 shares of the company’s stock worth $1,098,000 after purchasing an additional 34,054 shares during the period. Jane Street Group LLC grew its holdings in shares of OP Bancorp by 124.6% during the 1st quarter. Jane Street Group LLC now owns 45,394 shares of the company’s stock worth $546,000 after purchasing an additional 25,181 shares during the period. Trexquant Investment LP acquired a new stake in shares of OP Bancorp during the 1st quarter worth about $177,000. Finally, Russell Investments Group Ltd. increased its position in shares of OP Bancorp by 18.2% during the 1st quarter. Russell Investments Group Ltd. now owns 74,837 shares of the company’s stock worth $900,000 after purchasing an additional 11,547 shares during the last quarter. 53.63% of the stock is currently owned by hedge funds and other institutional investors.

OP Bancorp Trading Down 0.9%

NASDAQ OPBK opened at $14.27 on Wednesday. The firm’s fifty day moving average price is $13.83 and its 200 day moving average price is $12.87. OP Bancorp has a 12 month low of $10.43 and a 12 month high of $18.57. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market capitalization of $212.48 million, a price-to-earnings ratio of 9.64 and a beta of 0.74.

OP Bancorp (NASDAQ:OPBK) last released its quarterly earnings data on Thursday, July 24th. The company reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. The company had revenue of $23.69 million during the quarter, compared to the consensus estimate of $22.85 million. OP Bancorp had a net margin of 13.91% and a return on equity of 10.72%. On average, sell-side analysts expect that OP Bancorp will post 1.9 earnings per share for the current fiscal year.

OP Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Investors 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 yield of 3.4%. The ex-dividend date was Thursday, August 7th. OP Bancorp’s dividend payout ratio (DPR) is currently 32.43%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on OPBK shares. Zacks Research lowered shares of OP Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 22nd. Keefe, Bruyette & Woods upped their price objective on shares of OP Bancorp from $15.00 to $15.50 and gave the stock a “market perform” rating in a report on Monday, July 28th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $15.50.

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.