FY2024 EPS Estimates for OP Bancorp Reduced by DA Davidson (NASDAQ:OPBK)

OP Bancorp (NASDAQ:OPBK) – Research analysts at DA Davidson decreased their FY2024 earnings per share estimates for OP Bancorp in a report issued on Thursday, October 3rd. DA Davidson analyst G. Tenner now anticipates that the company will post earnings per share of $1.38 for the year, down from their previous forecast of $1.39. The consensus estimate for OP Bancorp’s current full-year earnings is $1.39 per share.

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

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

OP Bancorp Trading Down 1.0 %

Shares of OPBK stock opened at $12.26 on Monday. The stock has a 50-day simple moving average of $12.37 and a 200 day simple moving average of $10.74. OP Bancorp has a fifty-two week low of $8.23 and a fifty-two week high of $13.03. The stock has a market capitalization of $182.92 million, a P/E ratio of 8.76 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 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were given a $0.12 dividend. The ex-dividend date was Thursday, August 8th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.92%. OP Bancorp’s dividend payout ratio (DPR) is 34.29%.

Insider Activity at OP Bancorp

In related news, insider Ki Won Yoon sold 5,000 shares of the stock in a transaction on Wednesday, August 14th. The stock was 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 in the company, valued at $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 can be accessed through the SEC website. 21.34% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On OP Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Ritholtz Wealth Management boosted its position in OP Bancorp by 44.9% during the 2nd quarter. Ritholtz Wealth Management now owns 24,014 shares of the company’s stock worth $230,000 after acquiring an additional 7,440 shares during the period. O Shaughnessy Asset Management LLC boosted its position in OP Bancorp by 36.6% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 40,486 shares of the company’s stock worth $404,000 after acquiring an additional 10,854 shares during the period. Empowered Funds LLC boosted its position in OP Bancorp by 8.1% during the 1st quarter. Empowered Funds LLC now owns 44,348 shares of the company’s stock worth $443,000 after acquiring an additional 3,325 shares during the period. Russell Investments Group Ltd. boosted its position in OP Bancorp by 13.7% during the 1st quarter. Russell Investments Group Ltd. now owns 48,924 shares of the company’s stock worth $488,000 after acquiring an additional 5,896 shares during the period. Finally, ClariVest Asset Management LLC boosted its position in OP Bancorp by 2.9% during the 2nd quarter. ClariVest Asset Management LLC now owns 90,509 shares of the company’s stock worth $868,000 after acquiring an additional 2,528 shares during the period. Institutional investors and hedge funds 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.