1,837,182 Shares in OP Bancorp $OPBK Bought by Diversify Wealth Management LLC

Diversify Wealth Management LLC acquired a new stake in shares of OP Bancorp (NASDAQ:OPBK) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,837,182 shares of the company’s stock, valued at approximately $26,511,000. Diversify Wealth Management LLC owned about 0.12% of OP Bancorp as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Bank of America Corp DE increased its position in shares of OP Bancorp by 880.9% during the 4th 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 last quarter. Amundi bought a new position in shares of OP Bancorp in the first quarter worth about $26,000. Goldman Sachs Group Inc. raised its position in shares of OP Bancorp by 45.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 62,824 shares of the company’s stock valued at $755,000 after buying an additional 19,758 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of OP Bancorp by 3.5% in the 1st quarter. Empowered Funds LLC now owns 54,763 shares of the company’s stock valued at $658,000 after acquiring an additional 1,834 shares during the last quarter. Finally, Jane Street Group LLC lifted its holdings in shares of OP Bancorp by 124.6% in the 1st quarter. Jane Street Group LLC now owns 45,394 shares of the company’s stock valued at $546,000 after acquiring an additional 25,181 shares during the last quarter. Institutional investors own 53.63% of the company’s stock.

Wall Street Analysts Forecast Growth

OPBK has been the topic of several analyst reports. Zacks Research raised OP Bancorp from a “strong sell” rating to a “hold” rating in a research note on Friday, March 27th. Weiss Ratings raised OP Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, June 18th. Wall Street Zen cut OP Bancorp from a “buy” rating to a “hold” rating in a report on Sunday, May 3rd. Finally, DA Davidson reiterated a “buy” rating and issued a $17.00 target price on shares of OP Bancorp in a report on Tuesday, April 28th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $16.50.

OP Bancorp Trading Up 1.3%

Shares of OPBK traded up $0.19 during midday trading on Friday, hitting $14.86. The stock had a trading volume of 16,524 shares, compared to its average volume of 60,761. OP Bancorp has a 1 year low of $12.41 and a 1 year high of $15.73. The firm has a market cap of $221.27 million, a PE ratio of 8.16 and a beta of 0.60. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.02 and a quick ratio of 1.01. The stock’s 50 day moving average is $14.37 and its 200 day moving average is $14.06.

OP Bancorp (NASDAQ:OPBK) last released its quarterly earnings results on Thursday, April 23rd. The company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.07. The firm had revenue of $24.55 million during the quarter, compared to analysts’ expectations of $25.37 million. OP Bancorp had a net margin of 16.12% and a return on equity of 12.20%. As a group, analysts forecast that OP Bancorp will post 1.91 EPS for the current fiscal year.

OP Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 7th were issued a $0.14 dividend. The ex-dividend date was Thursday, May 7th. This is a positive change from OP Bancorp’s previous quarterly dividend of $0.12. This represents a $0.56 annualized dividend and a dividend yield of 3.8%. OP Bancorp’s dividend payout ratio (DPR) is currently 30.77%.

OP Bancorp 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.