Insider Selling: Op Bancorp (OTCMKTS:OPBK) Director Sells 10,198 Shares of Stock

Op Bancorp (OTCMKTS:OPBK) Director Jason Hwang sold 10,198 shares of Op Bancorp stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $6.50, for a total transaction of $66,287.00. Following the sale, the director now owns 188,100 shares in the company, valued at approximately $1,222,650. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

OTCMKTS:OPBK traded down $0.14 on Wednesday, reaching $6.33. The stock had a trading volume of 30,225 shares, compared to its average volume of 40,006. The company has a 50-day moving average of $6.29 and a 200 day moving average of $6.78. Op Bancorp has a 12-month low of $5.54 and a 12-month high of $10.72.

Op Bancorp (OTCMKTS:OPBK) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.03. The business had revenue of $12.71 million during the quarter, compared to analysts’ expectations of $13.40 million.

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 4.42%. The ex-dividend date was Wednesday, August 5th.

Separately, Zacks Investment Research upgraded shares of Op Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st.

Several hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its stake in shares of Op Bancorp by 35.5% in the 2nd quarter. Goldman Sachs Group Inc. now owns 17,077 shares of the company’s stock valued at $118,000 after purchasing an additional 4,472 shares in the last quarter. Zebra Capital Management LLC increased its holdings in Op Bancorp by 127.0% in the second quarter. Zebra Capital Management LLC now owns 34,235 shares of the company’s stock valued at $236,000 after buying an additional 19,154 shares during the last quarter. Bank of America Corp DE raised its stake in Op Bancorp by 118.7% during the second quarter. Bank of America Corp DE now owns 34,342 shares of the company’s stock valued at $237,000 after buying an additional 18,641 shares in the last quarter. Mackay Shields LLC lifted its holdings in Op Bancorp by 108.4% during the 1st quarter. Mackay Shields LLC now owns 34,800 shares of the company’s stock worth $260,000 after buying an additional 18,100 shares during the last quarter. Finally, Strs Ohio lifted its holdings in Op Bancorp by 9.1% during the 2nd quarter. Strs Ohio now owns 40,800 shares of the company’s stock worth $281,000 after buying an additional 3,400 shares during the last quarter.

Op Bancorp Company 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 certificate of deposits. The company also provides commercial real estate, small business administration, commercial and industrial business, single-family residential, term, and consumer loans; trade financing products; letters of credit, and SWIFT and export advice; and home mortgage loans.

Further Reading: Special Dividends

Insider Buying and Selling by Quarter for Op Bancorp (OTCMKTS:OPBK)

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