Truffle Hound Capital LLC Reduces Stock Position in OP Bancorp $OPBK

Truffle Hound Capital LLC trimmed its stake in shares of OP Bancorp (NASDAQ:OPBK) by 28.6% in the second quarter, Holdings Channel.com reports. The fund owned 400,000 shares of the company’s stock after selling 160,000 shares during the period. OP Bancorp makes up about 1.3% of Truffle Hound Capital LLC’s holdings, making the stock its 13th largest holding. Truffle Hound Capital LLC’s holdings in OP Bancorp were worth $5,196,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Amundi acquired a new stake in shares of OP Bancorp in the 1st quarter worth approximately $26,000. Police & Firemen s Retirement System of New Jersey acquired a new position in OP Bancorp during the second quarter worth $33,000. Bank of America Corp DE boosted its position in OP Bancorp by 880.9% during the fourth quarter. Bank of America Corp DE now owns 5,758 shares of the company’s stock worth $91,000 after purchasing an additional 5,171 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in OP Bancorp in the second quarter valued at $92,000. Finally, Trexquant Investment LP acquired a new stake in OP Bancorp in the first quarter valued at $177,000. Hedge funds and other institutional investors own 53.63% of the company’s stock.

Analysts Set New Price Targets

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

OP Bancorp Stock Down 4.2%

Shares of NASDAQ:OPBK opened at $12.65 on Tuesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $188.36 million, a P/E ratio of 8.06 and a beta of 0.74. OP Bancorp has a 52-week low of $10.43 and a 52-week high of $18.57. The stock’s fifty day simple moving average is $13.72 and its 200-day simple moving average is $13.34.

OP Bancorp (NASDAQ:OPBK) last announced its earnings results on Thursday, October 23rd. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.01. The firm had revenue of $24.48 million during the quarter, compared to the consensus estimate of $24.25 million. OP Bancorp had a net margin of 14.42% and a return on equity of 11.09%. As a group, equities research analysts forecast that OP Bancorp will post 1.9 earnings per share for the current fiscal year.

OP Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Thursday, November 6th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Thursday, November 6th. OP Bancorp’s payout ratio is currently 30.57%.

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.