First Manhattan Co. Raises Stake in Op Bancorp (OPBK)

First Manhattan Co. increased its position in Op Bancorp (OTCMKTS:OPBK) by 120.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,000 shares of the company’s stock after buying an additional 6,000 shares during the period. First Manhattan Co. owned 0.07% of Op Bancorp worth $96,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of OPBK. SCW Capital Management LP acquired a new stake in shares of Op Bancorp in the 4th quarter valued at about $6,787,000. Vanguard Group Inc boosted its stake in Op Bancorp by 151.5% during the 3rd quarter. Vanguard Group Inc now owns 230,103 shares of the company’s stock valued at $2,670,000 after purchasing an additional 138,609 shares during the last quarter. Vanguard Group Inc. boosted its stake in Op Bancorp by 151.5% during the 3rd quarter. Vanguard Group Inc. now owns 230,103 shares of the company’s stock valued at $2,670,000 after purchasing an additional 138,609 shares during the last quarter. EJF Capital LLC boosted its stake in Op Bancorp by 15.4% during the 4th quarter. EJF Capital LLC now owns 859,130 shares of the company’s stock valued at $7,620,000 after purchasing an additional 114,349 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in Op Bancorp by 6.9% during the 3rd quarter. BlackRock Inc. now owns 600,780 shares of the company’s stock valued at $6,969,000 after purchasing an additional 38,924 shares during the last quarter.

Separately, Zacks Investment Research downgraded Op Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, February 1st.

OPBK stock opened at $9.10 on Friday. Op Bancorp has a 52-week low of $8.07 and a 52-week high of $14.10.

Op Bancorp (OTCMKTS:OPBK) last released its quarterly earnings results on Friday, January 25th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. The company had revenue of $12.98 million for the quarter, compared to analyst estimates of $12.80 million.

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Op Bancorp Company Profile

OP Bancorp operates as the bank holding company for Open Bank that provides banking products and services in California. It generates certificates of deposit, installment accounts, money market accounts, retirement accounts, demand and time deposits, and savings accounts, as well as various personal and business checking accounts.

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Institutional Ownership by Quarter for Op Bancorp (OTCMKTS:OPBK)

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