OP Bancorp (NASDAQ:OPBK) Posts Earnings Results

OP Bancorp (NASDAQ:OPBK) announced its earnings results on Thursday. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.46 by $0.07, Zacks reports. OP Bancorp had a net margin of 16.12% and a return on equity of 12.20%.

OP Bancorp Price Performance

Shares of OPBK stock traded up $0.06 on Thursday, reaching $14.79. The company had a trading volume of 25,645 shares, compared to its average volume of 39,186. The stock has a market capitalization of $220.22 million, a PE ratio of 8.13 and a beta of 0.60. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.43. OP Bancorp has a one year low of $12.41 and a one year high of $15.73. The business’s 50-day moving average is $14.47 and its 200 day moving average is $14.10.

Analyst Ratings Changes

Several research firms recently weighed in on OPBK. Weiss Ratings raised shares of OP Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, June 18th. DA Davidson restated a “buy” rating and issued a $17.00 target price on shares of OP Bancorp in a research report on Tuesday, April 28th. Zacks Research raised shares of OP Bancorp from a “strong sell” rating to a “hold” rating in a report on Friday, March 27th. Finally, Wall Street Zen cut shares of OP Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday, May 3rd. 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.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $16.50.

Hedge Funds Weigh In On OP Bancorp

Several large investors have recently bought and sold shares of the company. Barclays PLC increased its position in OP Bancorp by 10.6% in the 4th quarter. Barclays PLC now owns 18,376 shares of the company’s stock valued at $259,000 after acquiring an additional 1,754 shares during the period. Wells Fargo & Company MN grew its stake in shares of OP Bancorp by 36.5% in the fourth quarter. Wells Fargo & Company MN now owns 16,119 shares of the company’s stock worth $228,000 after purchasing an additional 4,306 shares during the last quarter. Jane Street Group LLC increased its holdings in OP Bancorp by 106.2% in the fourth quarter. Jane Street Group LLC now owns 21,898 shares of the company’s stock valued at $309,000 after purchasing an additional 11,279 shares during the period. Jacobs Levy Equity Management Inc. raised its position in OP Bancorp by 6.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 19,687 shares of the company’s stock worth $274,000 after purchasing an additional 1,160 shares during the last quarter. Finally, NewEdge Advisors LLC raised its position in OP Bancorp by 1,702.7% during the 3rd quarter. NewEdge Advisors LLC now owns 14,422 shares of the company’s stock worth $201,000 after purchasing an additional 13,622 shares during the last quarter. 53.63% of the stock is currently owned by institutional investors.

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.