OP Bancorp (NASDAQ:OPBK) Stock Price Down 1.6% – Should You Sell?
by Kim Johansen · The Markets DailyOP Bancorp (NASDAQ:OPBK – Get Free Report)’s stock price dropped 1.6% during trading on Wednesday . The company traded as low as $14.54 and last traded at $14.54. 31,262 shares changed hands during trading, a decline of 49% from the average session volume of 61,839 shares. The stock had previously closed at $14.78.
Wall Street Analysts Forecast Growth
OPBK has been the topic of several research reports. Zacks Research raised shares of OP Bancorp from a “strong sell” rating to a “hold” rating in a research report on Friday, March 27th. Wall Street Zen cut OP Bancorp from a “buy” rating to a “hold” rating in a report on Sunday, May 3rd. Weiss Ratings raised OP Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, June 18th. Finally, DA Davidson restated a “buy” rating and issued a $17.00 price target 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $16.50.
View Our Latest Research Report on OP Bancorp
OP Bancorp Stock Up 1.3%
The firm’s 50 day simple moving average is $14.36 and its 200-day simple moving average is $14.06. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $221.27 million, a price-to-earnings ratio of 8.16 and a beta of 0.60.
OP Bancorp (NASDAQ:OPBK – Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.07. The company had revenue of $24.55 million during 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%. Equities analysts expect that OP Bancorp will post 1.91 earnings per share for the current fiscal year.
OP Bancorp Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors 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 3.8%. This is a boost from OP Bancorp’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Thursday, May 7th. OP Bancorp’s payout ratio is currently 30.77%.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in OPBK. Amundi bought a new stake in shares of OP Bancorp during the 1st quarter worth approximately $26,000. BNP Paribas Financial Markets grew its stake in shares of OP Bancorp by 96.7% in the third quarter. BNP Paribas Financial Markets now owns 2,492 shares of the company’s stock valued at $35,000 after buying an additional 1,225 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in OP Bancorp by 6,423.0% during the second quarter. JPMorgan Chase & Co. now owns 5,675 shares of the company’s stock worth $74,000 after buying an additional 5,588 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in OP Bancorp during the second quarter worth $84,000. Finally, Bank of America Corp DE raised its position in OP Bancorp by 880.9% during the fourth quarter. Bank of America Corp DE now owns 5,758 shares of the company’s stock worth $91,000 after acquiring an additional 5,171 shares in the last quarter. Institutional investors and hedge funds 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.