OP Bancorp (NASDAQ:OPBK) Posts Earnings Results, Beats Estimates By $0.09 EPS

OP Bancorp (NASDAQ:OPBK) announced its quarterly earnings data on Thursday. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.09, Zacks reports. OP Bancorp had a net margin of 16.87% and a return on equity of 12.74%. The company had revenue of $25.72 million during the quarter, compared to analysts’ expectations of $25.15 million.

OP Bancorp Stock Up 5.9%

Shares of NASDAQ OPBK opened at $15.66 on Friday. OP Bancorp has a 12-month low of $12.41 and a 12-month high of $16.00. The firm’s 50-day simple moving average is $14.52 and its 200 day simple moving average is $14.11. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.43. The company has a market cap of $233.18 million, a price-to-earnings ratio of 8.11 and a beta of 0.60.

OP Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 6th will be given a dividend of $0.14 per share. The ex-dividend date is Thursday, August 6th. This represents a $0.56 annualized dividend and a yield of 3.6%. OP Bancorp’s dividend payout ratio is 29.02%.

Hedge Funds Weigh In On OP Bancorp

A number of institutional investors have recently modified their holdings of the stock. Amundi acquired a new position in shares of OP Bancorp during the first quarter worth approximately $26,000. BNP Paribas Financial Markets raised its position in OP Bancorp by 96.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,492 shares of the company’s stock worth $35,000 after purchasing an additional 1,225 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in OP Bancorp by 6,423.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 5,675 shares of the company’s stock worth $74,000 after buying an additional 5,588 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in OP Bancorp in the 2nd quarter valued at $84,000. Finally, Bank of America Corp DE increased its stake 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 valued at $91,000 after buying an additional 5,171 shares during the period. 53.63% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on OPBK shares. 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. Zacks Research raised OP Bancorp from a “strong sell” rating to a “hold” rating in a report on Friday, March 27th. DA Davidson reiterated a “buy” rating and issued a $17.00 price objective on shares of OP Bancorp in a research note on Tuesday, April 28th. Finally, Wall Street Zen cut OP Bancorp from a “buy” rating to a “hold” rating in a report on Sunday, May 3rd. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, OP Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $16.50.

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.