OP Bancorp (NASDAQ:OPBK) Trading 1.5% Higher – Here’s Why

OP Bancorp (NASDAQ:OPBK) traded up 1.5% during trading on Wednesday . The company traded as high as $12.71 and last traded at $12.65. 35,875 shares traded hands during trading, an increase of 25% from the average session volume of 28,810 shares. The stock had previously closed at $12.46.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods cut their target price on shares of OP Bancorp from $19.00 to $18.00 and set a “market perform” rating for the company in a report on Monday, January 27th.

OP Bancorp Stock Down 2.1 %

The business’s 50 day simple moving average is $13.82 and its 200 day simple moving average is $14.41. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $180.85 million, a PE ratio of 8.78 and a beta of 0.60.

OP Bancorp (NASDAQ:OPBK) last released its quarterly earnings results on Thursday, January 23rd. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). OP Bancorp had a return on equity of 10.64% and a net margin of 13.68%. On average, equities research analysts forecast that OP Bancorp will post 1.9 earnings per share for the current year.

OP Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.93%. The ex-dividend date of this dividend was Thursday, February 6th. OP Bancorp’s payout ratio is 34.53%.

Institutional Investors Weigh In On OP Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in OPBK. Cubist Systematic Strategies LLC bought a new position in OP Bancorp during the 4th quarter valued at about $68,000. Barclays PLC purchased a new position in shares of OP Bancorp during the third quarter valued at approximately $58,000. Bank of America Corp DE grew its stake in shares of OP Bancorp by 880.9% during the fourth quarter. Bank of America Corp DE now owns 5,758 shares of the company’s stock valued at $91,000 after buying an additional 5,171 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of OP Bancorp in the fourth quarter worth approximately $95,000. Finally, Schonfeld Strategic Advisors LLC bought a new stake in shares of OP Bancorp during the 4th quarter worth approximately $274,000. Hedge funds and other institutional investors own 53.63% of the company’s stock.

OP Bancorp Company Profile

OP Bancorp operates as the bank holding company for Open Bank that provides banking products and services in California. It offers demand, checking, savings, money market, and time deposit accounts, as well as certificates of deposit. The company also provides commercial real estate, small business administration, commercial and industrial business, single-family residential, term, consumer, and home mortgage loans; trade financing products; and letters of credit, and SWIFT and export advice.