OP Bancorp (NASDAQ:OPBK) Stock Price Up 1.3% – Still a Buy?

OP Bancorp (NASDAQ:OPBK)’s stock price rose 1.3% during trading on Wednesday . The stock traded as high as $14.39 and last traded at $14.18. 46,486 shares traded hands during trading, an increase of 66% from the average session volume of 28,002 shares. The stock had previously closed at $14.00.

Analyst Upgrades and Downgrades

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

OP Bancorp Stock Performance

The firm’s fifty day simple moving average is $14.17 and its 200 day simple moving average is $13.99. The company has a market capitalization of $213.82 million, a price-to-earnings ratio of 7.89 and a beta of 0.61. 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 earnings results on Thursday, April 23rd. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.07. The business had revenue of $24.55 million for the quarter, compared to the consensus estimate of $25.37 million. OP Bancorp had a net margin of 16.12% and a return on equity of 12.20%. On average, sell-side analysts forecast that OP Bancorp will post 1.9 EPS for the current year.

OP Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 7th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 3.9%. The ex-dividend date was Thursday, May 7th. This is a positive change from OP Bancorp’s previous quarterly dividend of $0.12. OP Bancorp’s dividend payout ratio is presently 30.77%.

Institutional Trading of OP Bancorp

A number of hedge funds have recently modified their holdings of OPBK. Segall Bryant & Hamill LLC purchased a new stake in OP Bancorp in the 3rd quarter worth about $1,864,000. Diversify Advisory Services LLC grew its stake in OP Bancorp by 145.4% during the 3rd quarter. Diversify Advisory Services LLC now owns 1,840,941 shares of the company’s stock valued at $24,595,000 after acquiring an additional 1,090,687 shares in the last quarter. Empowered Funds LLC grew its stake in OP Bancorp by 9.3% during the 1st quarter. Empowered Funds LLC now owns 62,639 shares of the company’s stock valued at $833,000 after acquiring an additional 5,349 shares in the last quarter. Lazard Asset Management LLC acquired a new position in shares of OP Bancorp in the 1st quarter valued at about $180,000. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of OP Bancorp by 16.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 155,590 shares of the company’s stock valued at $2,069,000 after purchasing an additional 21,713 shares during the period. Hedge funds and other institutional investors own 53.63% of the company’s stock.

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.