OP Bancorp $OPBK Shares Acquired by Diversify Advisory Services LLC

Key Points

• Diversify Advisory Services LLC increased its stake in OP Bancorp by 145.4% to 1,840,941 shares, owning about 12.36% of the company (worth ~$24.6M) and making OPBK its 21st largest holding.
• Analyst sentiment is mixed: the consensus rating is "Hold" with a $16.50 target, though Zacks recently cut the stock to a "strong sell"; OP Bancorp also missed Q earnings ($0.47 vs. $0.52 expected) and reported slightly lower-than-expected revenue.
• OPBK trades around $13.12 with a market cap of ~$195M and a P/E of 7.67, and it pays a quarterly dividend of $0.12 (annualized $0.48) for a ~3.7% yield and a 28% payout ratio.

Diversify Advisory Services LLC lifted its stake in shares of OP Bancorp (NASDAQ:OPBK - Free Report) by 145.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,840,941 shares of the company's stock after acquiring an additional 1,090,687 shares during the period. OP Bancorp accounts for approximately 0.8% of Diversify Advisory Services LLC's portfolio, making the stock its 21st biggest position. Diversify Advisory Services LLC owned about 12.36% of OP Bancorp worth $24,595,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. First Trust Advisors LP acquired a new stake in OP Bancorp during the third quarter worth about $499,000. Segall Bryant & Hamill LLC acquired a new position in OP Bancorp in the 3rd quarter valued at about $1,864,000. Man Group plc acquired a new position in OP Bancorp in the 2nd quarter valued at about $339,000. Engineers Gate Manager LP purchased a new stake in shares of OP Bancorp in the 2nd quarter valued at approximately $150,000. Finally, Ameriprise Financial Inc. acquired a new stake in shares of OP Bancorp during the 2nd quarter worth approximately $361,000. Hedge funds and other institutional investors own 53.63% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on OPBK. Zacks Research lowered shares of OP Bancorp from a "hold" rating to a "strong sell" rating in a research report on Tuesday, January 27th. Weiss Ratings reiterated a "hold (c+)" rating on shares of OP Bancorp in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $16.50.

OP Bancorp Trading Down 1.3%

NASDAQ OPBK opened at $13.12 on Monday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $195.36 million, a P/E ratio of 7.67 and a beta of 0.66. The firm's 50-day moving average is $14.05 and its two-hundred day moving average is $13.93. OP Bancorp has a 12 month low of $10.43 and a 12 month high of $15.27.

OP Bancorp (NASDAQ:OPBK - Get Free Report) last announced its quarterly earnings results on Thursday, January 22nd. The company reported $0.47 earnings per share for the quarter, missing analysts' consensus estimates of $0.52 by ($0.05). The company had revenue of $24.28 million for the quarter, compared to analyst estimates of $24.85 million. OP Bancorp had a net margin of 15.39% and a return on equity of 11.93%. On average, sell-side analysts anticipate that OP Bancorp will post 1.9 earnings per share for the current year.

OP Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Thursday, February 5th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, February 5th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.7%. OP Bancorp's dividend payout ratio (DPR) is presently 28.07%.

OP Bancorp Company Profile

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.

Want to see what other hedge funds are holding OPBK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for OP Bancorp (NASDAQ:OPBK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.