Q3 2024 EPS Estimates for OP Bancorp (NASDAQ:OPBK) Raised by Analyst

OP Bancorp (NASDAQ:OPBK) – Analysts at DA Davidson raised their Q3 2024 earnings estimates for shares of OP Bancorp in a report issued on Thursday, October 3rd. DA Davidson analyst G. Tenner now expects that the company will post earnings per share of $0.33 for the quarter, up from their previous estimate of $0.32. The consensus estimate for OP Bancorp’s current full-year earnings is $1.39 per share. DA Davidson also issued estimates for OP Bancorp’s FY2025 earnings at $1.47 EPS.

Separately, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $13.00 price target on shares of OP Bancorp in a research report on Monday, August 26th.

OP Bancorp Stock Performance

OPBK opened at $12.38 on Friday. The business has a fifty day simple moving average of $12.37 and a 200-day simple moving average of $10.72. The firm has a market cap of $184.71 million, a PE ratio of 8.84 and a beta of 0.63. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.59. OP Bancorp has a fifty-two week low of $8.23 and a fifty-two week high of $13.03.

OP Bancorp (NASDAQ:OPBK) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.06. OP Bancorp had a net margin of 14.52% and a return on equity of 10.92%. The firm had revenue of $38.54 million for the quarter.

OP Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were issued a dividend of $0.12 per share. The ex-dividend date was Thursday, August 8th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.88%. OP Bancorp’s dividend payout ratio is currently 34.29%.

Insider Activity at OP Bancorp

In related news, insider Ki Won Yoon sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $12.18, for a total value of $60,900.00. Following the completion of the transaction, the insider now owns 47,137 shares of the company’s stock, valued at approximately $574,128.66. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 21.34% of the stock is owned by insiders.

Institutional Investors Weigh In On OP Bancorp

Several hedge funds have recently bought and sold shares of the business. Diversify Advisory Services LLC acquired a new position in shares of OP Bancorp in the 1st quarter valued at about $7,353,000. Empowered Funds LLC increased its stake in OP Bancorp by 8.1% in the 1st quarter. Empowered Funds LLC now owns 44,348 shares of the company’s stock valued at $443,000 after buying an additional 3,325 shares during the period. Russell Investments Group Ltd. lifted its position in OP Bancorp by 13.7% in the 1st quarter. Russell Investments Group Ltd. now owns 48,924 shares of the company’s stock worth $488,000 after buying an additional 5,896 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its stake in shares of OP Bancorp by 36.6% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 40,486 shares of the company’s stock valued at $404,000 after buying an additional 10,854 shares during the period. Finally, Ancora Advisors LLC grew its holdings in shares of OP Bancorp by 1.2% during the 1st quarter. Ancora Advisors LLC now owns 113,810 shares of the company’s stock valued at $1,136,000 after acquiring an additional 1,350 shares in the last quarter. 53.63% of the stock is owned by hedge funds and other institutional investors.

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.