67,254 Shares in OP Bancorp $OPBK Bought by Empowered Funds LLC

Key Points

• Empowered Funds LLC acquired 67,254 shares of OP Bancorp worth approximately $1.0 million, while institutional investors collectively own 53.63% of the company.
• Analyst sentiment is broadly positive: OP Bancorp has an average “Buy” rating and a consensus price target of $17.75, above its reported market price of $15.46.
• OP Bancorp exceeded quarterly expectations with earnings of $0.53 per share versus the $0.44 estimate and revenue of $25.72 million. The company also pays a quarterly dividend of $0.14 per share, yielding about 3.6% annually.

Empowered Funds LLC purchased a new position in shares of OP Bancorp (NASDAQ:OPBK - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 67,254 shares of the company's stock, valued at approximately $1,008,000. Empowered Funds LLC owned 0.45% of OP Bancorp as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Diversify Advisory Services LLC acquired a new position in OP Bancorp during the second quarter worth about $28,733,000. Diversify Wealth Management LLC purchased a new stake in shares of OP Bancorp during the 1st quarter worth approximately $26,511,000. BlackRock Inc. acquired a new stake in shares of OP Bancorp in the 2nd quarter worth approximately $14,995,000. Dimensional Fund Advisors LP grew its holdings in shares of OP Bancorp by 4.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 636,128 shares of the company's stock worth $8,461,000 after acquiring an additional 26,618 shares during the period. Finally, The Manufacturers Life Insurance Company purchased a new position in OP Bancorp in the 2nd quarter valued at approximately $8,416,000. Institutional investors and hedge funds own 53.63% of the company's stock.

Wall Street Analysts Forecast Growth

OPBK has been the topic of several research reports. Keefe, Bruyette & Woods upped their target price on OP Bancorp from $17.00 to $17.50 and gave the company a "market perform" rating in a report on Monday, July 27th. DA Davidson upped their price objective on shares of OP Bancorp from $17.00 to $18.00 and gave the company a "buy" rating in a research note on Tuesday, July 28th. Zacks Research upgraded shares of OP Bancorp from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 29th. Wall Street Zen lowered shares of OP Bancorp from a "buy" rating to a "hold" rating in a report on Saturday, August 15th. Finally, Weiss Ratings raised shares of OP Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $17.75.

OP Bancorp Stock Performance

OPBK opened at $15.46 on Friday. OP Bancorp has a 1-year low of $12.41 and a 1-year high of $16.83. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.02 and a quick ratio of 1.01. The company has a market capitalization of $230.86 million, a price-to-earnings ratio of 8.01 and a beta of 0.60. The business has a 50 day moving average price of $15.28 and a two-hundred day moving average price of $14.37.

OP Bancorp (NASDAQ:OPBK - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $0.53 EPS for the quarter, beating analysts' consensus estimates of $0.44 by $0.09. The company had revenue of $25.72 million during the quarter, compared to the consensus estimate of $25.15 million. OP Bancorp had a return on equity of 12.59% and a net margin of 16.87%. Research analysts predict that OP Bancorp will post 2.06 EPS for the current fiscal year.

OP Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 6th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Thursday, August 6th. OP Bancorp's dividend payout ratio (DPR) is currently 29.02%.

About OP Bancorp

OP Bancorp is the bank holding company for Old Point National Bank, a community-focused financial institution headquartered in Suffolk, Virginia. Through its subsidiary, the company offers a broad range of commercial and consumer banking services designed to meet the needs of businesses, professionals and individuals across the Hampton Roads and Virginia Peninsula regions. Core services include business lending, real estate financing, deposit accounts, cash management solutions and treasury services.

The company's lending portfolio spans commercial real estate loans, construction and land development financing, equipment loans and lines of credit tailored for small and medium-sized enterprises.

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