Diversify Advisory Services LLC Takes $28.73 Million Position in OP Bancorp $OPBK

Diversify Advisory Services LLC acquired a new stake in shares of OP Bancorp (NASDAQ:OPBK) during the second quarter, HoldingsChannel.com reports. The institutional investor acquired 1,847,777 shares of the company’s stock, valued at approximately $28,733,000. Diversify Advisory Services LLC owned 0.12% of OP Bancorp as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in OPBK. Bank of America Corp DE boosted its stake in OP Bancorp by 880.9% in the 4th 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 during the period. Amundi bought a new stake in shares of OP Bancorp during the first quarter valued at about $26,000. Goldman Sachs Group Inc. increased 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 valued at $755,000 after buying an additional 19,758 shares during the period. Empowered Funds LLC increased its position in shares of OP Bancorp by 3.5% during the first quarter. Empowered Funds LLC now owns 54,763 shares of the company’s stock valued at $658,000 after buying an additional 1,834 shares during the period. Finally, Jane Street Group LLC lifted its holdings in shares of OP Bancorp by 124.6% in the first quarter. Jane Street Group LLC now owns 45,394 shares of the company’s stock worth $546,000 after buying an additional 25,181 shares in the last quarter. Hedge funds and other institutional investors own 53.63% of the company’s stock.

OP Bancorp Stock Performance

NASDAQ:OPBK opened at $15.55 on Wednesday. The stock has a market cap of $232.16 million, a P/E ratio of 8.06 and a beta of 0.59. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.42. The business’s 50-day moving average price is $15.08 and its two-hundred day moving average price is $14.28. OP Bancorp has a twelve month low of $12.41 and a twelve month high of $16.83.

OP Bancorp (NASDAQ:OPBK) last issued its quarterly earnings data on Thursday, July 23rd. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.44 by $0.09. OP Bancorp had a return on equity of 12.59% and a net margin of 16.87%.The company had revenue of $25.72 million during the quarter, compared to analyst estimates of $25.15 million. As a group, equities analysts predict that OP Bancorp will post 2.06 EPS for the current fiscal year.

OP Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th will be given a dividend of $0.14 per share. The ex-dividend date is Thursday, August 6th. This represents a $0.56 annualized dividend and a yield of 3.6%. OP Bancorp’s payout ratio is presently 29.02%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on OPBK shares. Zacks Research upgraded shares of OP Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 29th. Weiss Ratings upgraded shares of OP Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, June 18th. DA Davidson raised their price target on shares of OP Bancorp from $17.00 to $18.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Wall Street Zen downgraded shares of OP Bancorp from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Keefe, Bruyette & Woods boosted their price target on shares of OP Bancorp from $17.00 to $17.50 and gave the company a “market perform” rating in a research report on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $17.75.

OP Bancorp Profile

OP Bancorp is the bank holding company for Old Point National Bank, a community-focused financial institution headquartered in Suffolk, Virginia. Through its subsidiary, the company offers a broad range of commercial and consumer banking services designed to meet the needs of businesses, professionals and individuals across the Hampton Roads and Virginia Peninsula regions. Core services include business lending, real estate financing, deposit accounts, cash management solutions and treasury services.

The company’s lending portfolio spans commercial real estate loans, construction and land development financing, equipment loans and lines of credit tailored for small and medium-sized enterprises.