FY2024 EPS Estimates for OP Bancorp Increased by DA Davidson

OP Bancorp (NASDAQ:OPBK) – Equities researchers at DA Davidson lifted their FY2024 earnings per share estimates for shares of OP Bancorp in a report released on Monday, October 28th. DA Davidson analyst G. Tenner now forecasts that the company will post earnings of $1.46 per share for the year, up from their previous forecast of $1.38. The consensus estimate for OP Bancorp’s current full-year earnings is $1.38 per share. DA Davidson also issued estimates for OP Bancorp’s FY2025 earnings at $1.48 EPS.

OP Bancorp (NASDAQ:OPBK) last released its quarterly earnings data on Thursday, October 24th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03. The business had revenue of $39.54 million during the quarter. OP Bancorp had a net margin of 14.18% and a return on equity of 10.94%.

Separately, Keefe, Bruyette & Woods reiterated 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 Price Performance

Shares of OPBK opened at $14.81 on Wednesday. OP Bancorp has a twelve month low of $8.36 and a twelve month high of $15.21. The company has a market capitalization of $220.97 million, a P/E ratio of 10.58 and a beta of 0.63. The firm has a 50 day moving average of $12.78 and a 200 day moving average of $11.17. 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 announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.24%. The ex-dividend date is Thursday, November 7th. OP Bancorp’s dividend payout ratio is currently 34.29%.

Insider Activity

In other OP Bancorp news, insider Ki Won Yoon sold 5,000 shares of OP Bancorp 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 sale, the insider now owns 47,137 shares of the company’s stock, valued at approximately $574,128.66. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 21.34% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of OPBK. Ritholtz Wealth Management grew its position in shares of OP Bancorp by 49.7% during the 3rd quarter. Ritholtz Wealth Management now owns 35,948 shares of the company’s stock valued at $449,000 after acquiring an additional 11,934 shares during the period. Renaissance Technologies LLC grew its holdings in OP Bancorp by 40.1% during the second quarter. Renaissance Technologies LLC now owns 112,060 shares of the company’s stock valued at $1,075,000 after purchasing an additional 32,060 shares during the period. Dimensional Fund Advisors LP increased its position in OP Bancorp by 8.0% in the second quarter. Dimensional Fund Advisors LP now owns 476,934 shares of the company’s stock worth $4,573,000 after buying an additional 35,288 shares in the last quarter. ClariVest Asset Management LLC raised its stake in shares of OP Bancorp by 2.9% in the second quarter. ClariVest Asset Management LLC now owns 90,509 shares of the company’s stock worth $868,000 after buying an additional 2,528 shares during the period. Finally, Ancora Advisors LLC lifted its position 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 buying an additional 1,350 shares in the last quarter. 53.63% of the stock is owned by hedge funds and other institutional investors.

About OP Bancorp

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.