OP Bancorp (NASDAQ:OPBK) Posts Quarterly Earnings Results
by Scott Moore · The Cerbat GemOP Bancorp (NASDAQ:OPBK – Get Free Report) issued its earnings results on Thursday. The company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.07, Zacks reports. OP Bancorp had a net margin of 15.39% and a return on equity of 11.75%. The firm had revenue of $24.56 million for the quarter, compared to analysts’ expectations of $25.37 million.
OP Bancorp Trading Up 1.5%
NASDAQ:OPBK traded up $0.21 during trading hours on Friday, hitting $14.32. The company had a trading volume of 17,773 shares, compared to its average volume of 35,958. The company has a market capitalization of $213.15 million, a PE ratio of 8.37 and a beta of 0.62. The stock has a 50-day moving average price of $13.56 and a 200 day moving average price of $13.76. OP Bancorp has a 52 week low of $11.52 and a 52 week high of $15.27. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.03 and a quick ratio of 1.02.
OP Bancorp Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, May 21st. Stockholders of record on Thursday, May 7th will be issued a $0.14 dividend. 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 3.9%. The ex-dividend date is Thursday, May 7th. OP Bancorp’s dividend payout ratio (DPR) is 28.07%.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of OP Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, April 10th. Zacks Research upgraded shares of OP Bancorp from a “strong sell” rating to a “hold” rating in a report on Friday, March 27th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.50.
Institutional Trading of OP Bancorp
Several large investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC boosted its holdings in OP Bancorp by 34.7% in the fourth quarter. NewEdge Advisors LLC now owns 19,431 shares of the company’s stock valued at $274,000 after acquiring an additional 5,009 shares in the last quarter. Empowered Funds LLC boosted its holdings in OP Bancorp by 4.5% in the fourth quarter. Empowered Funds LLC now owns 57,290 shares of the company’s stock valued at $809,000 after acquiring an additional 2,462 shares in the last quarter. Man Group plc boosted its holdings in OP Bancorp by 40.8% in the fourth quarter. Man Group plc now owns 54,746 shares of the company’s stock valued at $773,000 after acquiring an additional 15,876 shares in the last quarter. Bridgeway Capital Management LLC boosted its holdings in OP Bancorp by 1.2% in the fourth quarter. Bridgeway Capital Management LLC now owns 209,040 shares of the company’s stock valued at $2,952,000 after acquiring an additional 2,462 shares in the last quarter. Finally, Trexquant Investment LP boosted its holdings in OP Bancorp by 128.5% in the fourth quarter. Trexquant Investment LP now owns 37,571 shares of the company’s stock valued at $531,000 after acquiring an additional 21,129 shares in the last quarter. 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.