Squarepoint Ops LLC Increases Stake in OP Bancorp (OTCMKTS:OPBK)

Squarepoint Ops LLC boosted its stake in OP Bancorp (OTCMKTS:OPBK) by 12.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,165 shares of the company’s stock after purchasing an additional 1,693 shares during the period. Squarepoint Ops LLC’s holdings in OP Bancorp were worth $153,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in OPBK. The Manufacturers Life Insurance Company increased its stake in shares of OP Bancorp by 1.7% during the second quarter. The Manufacturers Life Insurance Company now owns 855,064 shares of the company’s stock valued at $8,602,000 after buying an additional 14,238 shares during the period. KLK Capital Management LLC purchased a new position in shares of OP Bancorp during the second quarter valued at approximately $8,013,000. Alliancebernstein L.P. increased its stake in shares of OP Bancorp by 14.3% during the second quarter. Alliancebernstein L.P. now owns 471,301 shares of the company’s stock valued at $4,741,000 after buying an additional 58,809 shares during the period. rhino investment partners Inc increased its stake in shares of OP Bancorp by 16.5% during the second quarter. rhino investment partners Inc now owns 411,929 shares of the company’s stock valued at $4,443,000 after buying an additional 58,435 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of OP Bancorp by 22.4% during the second quarter. Renaissance Technologies LLC now owns 241,600 shares of the company’s stock valued at $2,430,000 after buying an additional 44,264 shares during the period.

In other OP Bancorp news, CFO Christine Yoon Oh sold 10,000 shares of OP Bancorp stock in a transaction dated Wednesday, November 3rd. The shares were sold at an average price of $12.80, for a total value of $128,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Myung Park sold 50,000 shares of OP Bancorp stock in a transaction dated Wednesday, November 3rd. The stock was sold at an average price of $12.55, for a total transaction of $627,500.00. The disclosure for this sale can be found here.

Separately, Zacks Investment Research raised OP Bancorp from a “hold” rating to a “strong-buy” rating and set a $14.00 target price on the stock in a research note on Thursday, November 4th.

Shares of OTCMKTS OPBK opened at $13.65 on Thursday. OP Bancorp has a 1 year low of $7.09 and a 1 year high of $13.87. The firm has a 50-day moving average of $11.21 and a 200 day moving average of $10.62.

OP Bancorp (OTCMKTS:OPBK) last issued its quarterly earnings results on Friday, October 29th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.13.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 25th. Investors of record on Thursday, November 11th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, November 9th. This represents a $0.40 dividend on an annualized basis and a yield of 2.93%.

OP Bancorp Profile

OP Bancorp operates as a bank holding company, which engages in the provision of general commercial banking services through its subsidiary. It offers deposit, lending, online banking, cash management, e-statements, mobile banking, zelle, and wire transfer services. The firm serves the small- and medium-sized businesses, professionals, and residents primarily Korean and other ethnic minority communities.

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Institutional Ownership by Quarter for OP Bancorp (OTCMKTS:OPBK)

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