OP Bancorp (NASDAQ:OPBK) Releases Earnings Results, Beats Estimates By $0.07 EPS

OP Bancorp (NASDAQ:OPBK) announced its quarterly earnings results on Thursday. The company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.07, Zacks reports. OP Bancorp had a return on equity of 11.75% and a net margin of 15.39%.The company had revenue of $24.56 million during the quarter, compared to analysts’ expectations of $25.37 million.

OP Bancorp Trading Up 2.1%

NASDAQ OPBK traded up $0.29 on Friday, reaching $14.40. The company had a trading volume of 11,253 shares, compared to its average volume of 35,888. The firm has a market cap of $214.42 million, a price-to-earnings ratio of 8.42 and a beta of 0.62. OP Bancorp has a fifty-two week low of $11.52 and a fifty-two week high of $15.27. The business has a 50 day moving average of $13.56 and a two-hundred day moving average of $13.76. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.03 and a quick ratio of 1.02.

OP Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 21st. Investors of record on Thursday, May 7th will be issued a $0.14 dividend. The ex-dividend date is Thursday, May 7th. This is a positive change from OP Bancorp’s previous quarterly dividend of $0.12. This represents a $0.56 dividend on an annualized basis and a yield of 3.9%. OP Bancorp’s dividend payout ratio (DPR) is currently 28.07%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on OPBK shares. Zacks Research upgraded OP Bancorp from a “strong sell” rating to a “hold” rating in a research note on Friday, March 27th. Weiss Ratings upgraded OP Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, April 10th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, OP Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $16.50.

Institutional Trading of OP Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of OPBK. Amundi acquired a new stake in OP Bancorp in the first quarter valued at $26,000. BNP Paribas Financial Markets increased its holdings in OP Bancorp by 96.7% in the third quarter. BNP Paribas Financial Markets now owns 2,492 shares of the company’s stock valued at $35,000 after purchasing an additional 1,225 shares during the period. JPMorgan Chase & Co. increased its holdings in OP Bancorp by 6,423.0% in the second quarter. JPMorgan Chase & Co. now owns 5,675 shares of the company’s stock valued at $74,000 after purchasing an additional 5,588 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in OP Bancorp in the second quarter valued at $84,000. Finally, Bank of America Corp DE increased its holdings in OP Bancorp by 880.9% in the fourth quarter. Bank of America Corp DE now owns 5,758 shares of the company’s stock valued at $91,000 after purchasing an additional 5,171 shares during the period. 53.63% of the stock is currently owned by institutional investors and hedge funds.

OP Bancorp Company 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.