Insider Selling: OP Bancorp (NASDAQ:OPBK) CFO Sells 958 Shares of Stock
by Tristan Rich · The Markets DailyOP Bancorp (NASDAQ:OPBK – Get Free Report) CFO Jaehyun Park sold 958 shares of OP Bancorp stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $12.91, for a total transaction of $12,367.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
OP Bancorp Stock Down 1.3%
NASDAQ:OPBK traded down $0.17 during midday trading on Thursday, reaching $12.97. 36,345 shares of the stock traded hands, compared to its average volume of 34,166. The stock has a market capitalization of $193.12 million, a PE ratio of 7.58 and a beta of 0.66. OP Bancorp has a 12-month low of $10.43 and a 12-month high of $15.27. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.01 and a current ratio of 1.01. The business has a 50-day moving average of $13.98 and a two-hundred day moving average of $13.91.
OP Bancorp (NASDAQ:OPBK – Get Free Report) last issued its quarterly earnings results on Thursday, January 22nd. The company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.05). OP Bancorp had a return on equity of 11.93% and a net margin of 15.39%.The business had revenue of $24.28 million for the quarter, compared to analyst estimates of $24.85 million. On average, equities analysts forecast that OP Bancorp will post 1.9 earnings per share for the current fiscal year.
OP Bancorp Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Thursday, February 5th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Thursday, February 5th. OP Bancorp’s dividend payout ratio is currently 28.07%.
Institutional Trading of OP Bancorp
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Amundi purchased a new stake in OP Bancorp during the 1st quarter valued at about $26,000. BNP Paribas Financial Markets boosted its position in 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 during the last quarter. Police & Firemen s Retirement System of New Jersey purchased a new stake in OP Bancorp in the second quarter valued at approximately $33,000. JPMorgan Chase & Co. increased its holdings in OP Bancorp by 6,423.0% in 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 during the period. Finally, Bank of America Corp DE raised its position in OP Bancorp by 880.9% during the 4th quarter. Bank of America Corp DE now owns 5,758 shares of the company’s stock worth $91,000 after buying an additional 5,171 shares during the last quarter. Institutional investors and hedge funds own 53.63% of the company’s stock.
Analyst Upgrades and Downgrades
OPBK has been the topic of a number of research analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of OP Bancorp in a research note on Monday, December 29th. Zacks Research lowered shares of OP Bancorp from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 27th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, OP Bancorp presently has an average rating of “Hold” and an average target price of $16.50.
Check Out Our Latest Research Report on OP Bancorp
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.