OP Bancorp (NASDAQ:OPBK) Stock Price Down 1.6% – Here’s Why
by Jessica Moore · The Cerbat GemOP Bancorp (NASDAQ:OPBK – Get Free Report) was down 1.6% during mid-day trading on Wednesday . The stock traded as low as $14.54 and last traded at $14.54. 31,262 shares were traded 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 Analyst Weigh In
OPBK has been the subject of several research analyst reports. Wall Street Zen downgraded shares of OP Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday, May 3rd. Weiss Ratings upgraded OP Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, June 18th. Zacks Research raised OP Bancorp from a “strong sell” rating to a “hold” rating in a research report on Friday, March 27th. Finally, DA Davidson restated a “buy” rating and set a $17.00 price objective on shares of OP Bancorp in a report on Tuesday, April 28th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, OP Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.50.
Check Out Our Latest Analysis on OP Bancorp
OP Bancorp Trading Down 1.6%
The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.01 and a current ratio of 1.02. The firm has a market capitalization of $216.50 million, a P/E ratio of 7.99 and a beta of 0.60. The firm has a 50 day simple moving average of $14.37 and a two-hundred day simple moving average of $14.06.
OP Bancorp (NASDAQ:OPBK – Get Free Report) last posted its earnings results on Thursday, April 23rd. The company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.07. The firm had revenue of $24.55 million during the quarter, compared to analyst estimates of $25.37 million. OP Bancorp had a net margin of 16.12% and a return on equity of 12.20%. Equities research analysts forecast that OP Bancorp will post 1.91 earnings per share for the current year.
OP Bancorp Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 7th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 3.9%. This is a boost from OP Bancorp’s previous quarterly dividend of $0.12. The ex-dividend date was Thursday, May 7th. OP Bancorp’s dividend payout ratio is presently 30.77%.
Institutional Investors Weigh In On OP Bancorp
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Diversify Wealth Management LLC bought a new position in shares of OP Bancorp during the 1st quarter worth approximately $26,511,000. Dimensional Fund Advisors LP grew its holdings in shares of OP Bancorp by 4.4% in the first quarter. Dimensional Fund Advisors LP now owns 636,128 shares of the company’s stock valued at $8,461,000 after acquiring an additional 26,618 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of OP Bancorp by 118.3% in the second quarter. Geode Capital Management LLC now owns 273,701 shares of the company’s stock valued at $3,556,000 after acquiring an additional 148,299 shares in the last quarter. Maltese Capital Management LLC increased its position in shares of OP Bancorp by 11.0% during the fourth quarter. Maltese Capital Management LLC now owns 268,867 shares of the company’s stock valued at $3,796,000 after acquiring an additional 26,700 shares during the last quarter. Finally, Gator Capital Management LLC increased its position in shares of OP Bancorp by 0.8% during the third quarter. Gator Capital Management LLC now owns 256,433 shares of the company’s stock valued at $3,570,000 after acquiring an additional 2,160 shares during the last quarter. Hedge funds and other 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.