Truffle Hound Capital LLC Acquires New Holdings in OP Bancorp (NASDAQ:OPBK)

Truffle Hound Capital LLC acquired a new stake in OP Bancorp (NASDAQ:OPBK) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 580,000 shares of the company’s stock, valued at approximately $9,170,000. OP Bancorp comprises about 3.2% of Truffle Hound Capital LLC’s investment portfolio, making the stock its 5th biggest holding.

Several other hedge funds have also recently bought and sold shares of OPBK. Empowered Funds LLC lifted its position in OP Bancorp by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 50,314 shares of the company’s stock valued at $628,000 after purchasing an additional 2,546 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in OP Bancorp by 18.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 61,467 shares of the company’s stock valued at $767,000 after purchasing an additional 9,447 shares during the last quarter. Fourthstone LLC bought a new stake in OP Bancorp in the 3rd quarter valued at about $1,448,000. Barclays PLC bought a new stake in OP Bancorp in the 3rd quarter valued at about $58,000. Finally, Geode Capital Management LLC lifted its position in OP Bancorp by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 118,203 shares of the company’s stock valued at $1,476,000 after purchasing an additional 2,948 shares during the last quarter. 53.63% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods cut their price objective on shares of OP Bancorp from $19.00 to $18.00 and set a “market perform” rating on the stock in a research report on Monday, January 27th.

OP Bancorp Stock Down 2.2 %

OPBK stock opened at $12.20 on Friday. OP Bancorp has a 52 week low of $8.91 and a 52 week high of $18.57. The company has a market capitalization of $180.71 million, a price-to-earnings ratio of 8.78 and a beta of 0.60. The firm’s 50-day moving average is $13.77 and its two-hundred day moving average is $14.40. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37.

OP Bancorp (NASDAQ:OPBK) last released its quarterly earnings results on Thursday, January 23rd. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). OP Bancorp had a return on equity of 10.64% and a net margin of 13.68%. On average, analysts forecast that OP Bancorp will post 1.9 earnings per share for the current fiscal year.

OP Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.93%. OP Bancorp’s dividend payout ratio (DPR) is 34.53%.

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.