OP Bancorp (NASDAQ:OPBK) Trading Up 1.3% – What’s Next?

OP Bancorp (NASDAQ:OPBK) shares were up 1.3% during mid-day trading on Wednesday . The stock traded as high as $14.39 and last traded at $14.18. Approximately 46,486 shares were traded during mid-day trading, an increase of 66% from the average daily volume of 28,002 shares. The stock had previously closed at $14.00.

Analysts Set New Price Targets

Several analysts have issued reports on OPBK shares. Weiss Ratings lowered OP Bancorp from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, June 3rd. Zacks Research raised OP Bancorp from a “strong sell” rating to a “hold” rating in a research note on Friday, March 27th. DA Davidson reaffirmed a “buy” rating and issued a $17.00 target price on shares of OP Bancorp in a research note on Tuesday, April 28th. Finally, Wall Street Zen lowered OP Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday, May 3rd. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, OP Bancorp has an average rating of “Moderate Buy” and an average target price of $16.50.

OP Bancorp Stock Performance

The firm has a market cap of $211.14 million, a PE ratio of 7.79 and a beta of 0.61. The company has a 50 day simple moving average of $14.15 and a 200-day simple moving average of $13.98. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.02 and a quick ratio of 1.01.

OP Bancorp (NASDAQ:OPBK) last released its quarterly earnings data on Thursday, April 23rd. The company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.07. The firm had revenue of $24.56 million during the quarter, compared to analyst estimates of $25.37 million. OP Bancorp had a return on equity of 12.20% and a net margin of 16.12%. As a group, equities research analysts anticipate that OP Bancorp will post 1.9 EPS for the current year.

OP Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 7th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.9%. This is a boost from OP Bancorp’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Thursday, May 7th. OP Bancorp’s payout ratio is currently 30.77%.

Institutional Trading of OP Bancorp

A number of institutional investors have recently made changes to their positions in OPBK. Amundi purchased a new stake in shares of OP Bancorp during the first quarter valued at approximately $26,000. BNP Paribas Financial Markets boosted its stake in shares of OP Bancorp by 96.7% during 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. boosted its stake in shares of OP Bancorp by 6,423.0% during 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. purchased a new stake in shares of OP Bancorp during the second quarter valued at approximately $84,000. Finally, Bank of America Corp DE boosted its stake in shares of OP Bancorp by 880.9% during 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. Hedge funds and other institutional investors own 53.63% of the company’s stock.

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.