DA Davidson Has Positive View of OP Bancorp FY2024 Earnings

OP Bancorp (NASDAQ:OPBK) – DA Davidson increased their FY2024 earnings per share estimates for OP Bancorp in a research note issued on Monday, October 28th. DA Davidson analyst G. Tenner now expects that the company will post earnings per share of $1.46 for the year, up from their prior 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.

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

OP Bancorp Stock Performance

Shares of OPBK stock opened at $15.04 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $224.40 million, a price-to-earnings ratio of 10.71 and a beta of 0.63. The stock has a fifty day moving average of $12.73 and a 200 day moving average of $11.14. OP Bancorp has a 52 week low of $8.36 and a 52 week high of $15.21.

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

OP Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $0.48 annualized dividend and a dividend yield of 3.19%. OP Bancorp’s payout ratio is presently 34.29%.

Insider Activity

In other news, insider Ki Won Yoon sold 5,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $12.18, for a total transaction of $60,900.00. Following the completion of the transaction, the insider now directly owns 47,137 shares in the company, valued at $574,128.66. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 21.34% of the company’s stock.

Hedge Funds Weigh In On OP Bancorp

Several institutional investors and hedge funds have recently modified their holdings of the stock. Ritholtz Wealth Management increased its holdings in shares of OP Bancorp by 49.7% during the third 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 in the last quarter. Renaissance Technologies LLC increased its holdings in shares of 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 acquiring an additional 32,060 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of OP Bancorp by 8.0% during the second quarter. Dimensional Fund Advisors LP now owns 476,934 shares of the company’s stock valued at $4,573,000 after acquiring an additional 35,288 shares in the last quarter. ClariVest Asset Management LLC increased its holdings in shares of OP Bancorp by 2.9% during the second quarter. ClariVest Asset Management LLC now owns 90,509 shares of the company’s stock valued at $868,000 after acquiring an additional 2,528 shares in the last quarter. Finally, Ancora Advisors LLC increased its holdings in shares of OP Bancorp by 1.2% during the first 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 currently owned by 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.