OP Bancorp (NASDAQ:OPBK) Trading Down 5% – What’s Next?

Shares of OP Bancorp (NASDAQ:OPBK) traded down 5% on Monday . The stock traded as low as $13.37 and last traded at $13.39. 39,406 shares were traded during trading, an increase of 28% from the average session volume of 30,800 shares. The stock had previously closed at $14.09.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of OP Bancorp in a report on Monday, December 29th. Keefe, Bruyette & Woods increased their target price on shares of OP Bancorp from $15.50 to $16.00 and gave the company a “market perform” rating in a research report on Monday, October 27th. DA Davidson boosted their price objective on OP Bancorp from $16.50 to $17.00 and gave the company a “buy” rating in a research note on Tuesday, October 28th. Finally, Zacks Research cut OP Bancorp from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 27th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $16.50.

OP Bancorp Stock Down 5.0%

The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market capitalization of $199.38 million, a PE ratio of 7.83 and a beta of 0.68. The firm’s 50-day simple moving average is $14.26 and its 200 day simple moving average is $13.94.

OP Bancorp (NASDAQ:OPBK) last announced its quarterly earnings results on Thursday, January 22nd. The company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.05). The company had revenue of $24.28 million during the quarter, compared to analysts’ expectations of $24.85 million. OP Bancorp had a net margin of 15.39% and a return on equity of 11.93%. As a group, equities research analysts forecast that OP Bancorp will post 1.9 earnings per share for the current year.

OP Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Thursday, February 5th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, February 5th. This represents a $0.48 annualized dividend and a dividend yield of 3.6%. OP Bancorp’s payout ratio is 28.07%.

Hedge Funds Weigh In On OP Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of America Corp DE boosted its position in shares of OP Bancorp by 880.9% in the 4th quarter. Bank of America Corp DE now owns 5,758 shares of the company’s stock worth $91,000 after buying an additional 5,171 shares in the last quarter. Amundi acquired a new position in OP Bancorp in the 1st quarter valued at $26,000. Goldman Sachs Group Inc. lifted its position in OP Bancorp by 45.9% during the first quarter. Goldman Sachs Group Inc. now owns 62,824 shares of the company’s stock worth $755,000 after buying an additional 19,758 shares during the period. Empowered Funds LLC boosted its position in shares of OP Bancorp by 3.5% in the first quarter. Empowered Funds LLC now owns 54,763 shares of the company’s stock worth $658,000 after acquiring an additional 1,834 shares during the last quarter. Finally, Jane Street Group LLC grew its stake in shares of OP Bancorp by 124.6% during the 1st quarter. Jane Street Group LLC now owns 45,394 shares of the company’s stock valued at $546,000 after buying an additional 25,181 shares during the period. 53.63% of the stock is owned by institutional investors and hedge funds.

About OP Bancorp

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.