OP Bancorp (NASDAQ:OPBK) Releases Quarterly Earnings Results

OP Bancorp (NASDAQ:OPBK) released its earnings results on Thursday. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.02, FiscalAI reports. OP Bancorp had a return on equity of 12.59% and a net margin of 16.87%. The firm had revenue of $27.50 million for the quarter, compared to analysts’ expectations of $26.50 million.

OP Bancorp Trading Up 2.7%

Shares of NASDAQ:OPBK traded up $0.39 during trading on Thursday, reaching $15.02. 28,238 shares of the company were exchanged, compared to its average volume of 41,886. The firm has a market capitalization of $224.25 million, a PE ratio of 7.78 and a beta of 0.62. The business’s fifty day simple moving average is $15.20 and its 200-day simple moving average is $14.80. OP Bancorp has a 12-month low of $12.41 and a 12-month high of $16.83. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.02 and a quick ratio of 1.01.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on OPBK shares. Keefe, Bruyette & Woods raised their price target on OP Bancorp from $17.00 to $17.50 and gave the stock a “market perform” rating in a research note on Monday, July 27th. Wall Street Zen downgraded OP Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Zacks Research lowered OP Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 28th. Weiss Ratings reiterated a “buy (b)” rating on shares of OP Bancorp in a research note on Monday, September 14th. Finally, DA Davidson lifted their target price on OP Bancorp from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.75.

OP Bancorp Company Profile

OP Bancorp is the bank holding company for Open Bank, a full-service commercial bank headquartered in Los Angeles, California. Open Bank primarily serves small and medium-sized businesses, entrepreneurs, professionals and individuals, with a focus on relationship-based banking.

The bank offers commercial and consumer deposit products, commercial real estate and business loans, residential mortgage loans, lines of credit and other lending services. It also provides online and mobile banking, treasury management and other services designed to support business and personal financial needs.

Open Bank was established to serve the banking needs of diverse communities, including Korean American and other Asian American customers.