BlackRock Inc. Takes Position in Op Bancorp (OPBK)

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BlackRock Inc. bought a new position in shares of Op Bancorp (OTCMKTS:OPBK) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 561,856 shares of the company’s stock, valued at approximately $7,146,000.

Several other hedge funds and other institutional investors have also modified their holdings of OPBK. Rhumbline Advisers purchased a new position in Op Bancorp during the 2nd quarter worth approximately $137,000. Martingale Asset Management L P purchased a new position in Op Bancorp during the 2nd quarter worth approximately $236,000. Schwab Charles Investment Management Inc. purchased a new position in Op Bancorp during the 2nd quarter worth approximately $291,000. Acadian Asset Management LLC purchased a new position in Op Bancorp during the 2nd quarter worth approximately $381,000. Finally, Bank of New York Mellon Corp purchased a new position in Op Bancorp during the 2nd quarter worth approximately $390,000.

In other Op Bancorp news, insider Steve K. Park sold 25,000 shares of Op Bancorp stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $12.55, for a total value of $313,750.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Separately, Zacks Investment Research downgraded Op Bancorp from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 1st.

OTCMKTS:OPBK opened at $10.27 on Wednesday. Op Bancorp has a 52-week low of $8.89 and a 52-week high of $14.10.

Op Bancorp (OTCMKTS:OPBK) last announced its earnings results on Thursday, October 25th. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.02). The business had revenue of $12.77 million during the quarter, compared to the consensus estimate of $12.90 million.

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Op Bancorp 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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Want to see what other hedge funds are holding OPBK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Op Bancorp (OTCMKTS:OPBK).

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

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