Connor Clark & Lunn Investment Management Ltd. Sells 3,089 Shares of OP Bancorp (NASDAQ:OPBK)

Connor Clark & Lunn Investment Management Ltd. reduced its stake in OP Bancorp (NASDAQ:OPBKGet Rating) by 16.0% during the second quarter, Holdings Channel.com reports. The firm owned 16,178 shares of the company’s stock after selling 3,089 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in OP Bancorp were worth $170,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the stock. Gator Capital Management LLC raised its holdings in OP Bancorp by 40.0% in the 2nd quarter. Gator Capital Management LLC now owns 70,000 shares of the company’s stock worth $734,000 after purchasing an additional 20,000 shares during the period. Dorsey Wright & Associates bought a new position in OP Bancorp in the 2nd quarter worth $31,000. The Manufacturers Life Insurance Company increased its stake in OP Bancorp by 0.8% in the 1st quarter. The Manufacturers Life Insurance Company now owns 894,574 shares of the company’s stock worth $12,390,000 after buying an additional 6,903 shares in the last quarter. Jane Street Group LLC purchased a new stake in OP Bancorp in the 1st quarter worth $149,000. Finally, Goldman Sachs Group Inc. increased its stake in OP Bancorp by 17.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 28,103 shares of the company’s stock worth $389,000 after buying an additional 4,102 shares in the last quarter. 50.61% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, DA Davidson cut their price target on OP Bancorp to $14.50 in a research note on Tuesday, November 1st.

OP Bancorp Stock Performance

Shares of OPBK stock opened at $11.33 on Friday. OP Bancorp has a 52-week low of $10.25 and a 52-week high of $14.86. The firm has a market capitalization of $172.10 million, a PE ratio of 5.13 and a beta of 0.59. The stock has a fifty day simple moving average of $11.38 and a two-hundred day simple moving average of $11.53.

OP Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 24th. Shareholders of record on Thursday, November 10th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, November 9th. This represents a $0.48 dividend on an annualized basis and a yield of 4.24%. OP Bancorp’s payout ratio is presently 21.72%.

Insiders Place Their Bets

In other news, Director Brian Choi acquired 10,000 shares of the business’s stock in a transaction dated Monday, August 29th. The stock was purchased at an average price of $12.55 per share, for a total transaction of $125,500.00. Following the completion of the transaction, the director now directly owns 1,143,795 shares in the company, valued at approximately $14,354,627.25. The acquisition was disclosed in a filing with the SEC, which is available through this link. In the last quarter, insiders acquired 47,419 shares of company stock worth $552,073. Corporate insiders own 22.16% of the company’s stock.

About OP Bancorp

(Get Rating)

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.

Further Reading

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

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