OP Bancorp (NASDAQ:OPBK) Trading Down 1.6% - Here's Why

Key Points

• OP Bancorp shares fell 1.6% on Wednesday, trading as low as $14.54 on lighter-than-normal volume, below the previous close of $14.78.
• Analyst sentiment is mixed but generally constructive: the stock has a Moderate Buy consensus with a $16.50 target price, though one recent downgrade offset other Buy/Hold ratings.
• The company recently beat earnings estimates with $0.48 EPS versus $0.41 expected and also raised its quarterly dividend to $0.14 per share, implying a 3.9% annualized yield.

OP Bancorp (NASDAQ:OPBK - Get Free Report) shares dropped 1.6% during trading on Wednesday . The company traded as low as $14.54 and last traded at $14.54. 31,262 shares were traded during mid-day trading, a decline of 49% from the average daily volume of 61,839 shares. The stock had previously closed at $14.78.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on OPBK shares. Wall Street Zen lowered OP Bancorp from a "buy" rating to a "hold" rating in a research report on Sunday, May 3rd. DA Davidson reiterated a "buy" rating and issued a $17.00 target price on shares of OP Bancorp in a research report on Tuesday, April 28th. Zacks Research raised OP Bancorp from a "strong sell" rating to a "hold" rating in a research note on Friday, March 27th. Finally, Weiss Ratings upgraded OP Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, June 18th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $16.50.

OP Bancorp Trading Down 1.6%

The company has a debt-to-equity ratio of 0.43, a current ratio of 1.02 and a quick ratio of 1.01. The company has a market cap of $216.50 million, a price-to-earnings ratio of 7.99 and a beta of 0.60. The business's fifty day moving average price is $14.37 and its 200 day moving average price is $14.06.

OP Bancorp (NASDAQ:OPBK - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The company reported $0.48 earnings per share for the quarter, beating analysts' consensus estimates of $0.41 by $0.07. The business had revenue of $24.55 million during the quarter, compared to the consensus estimate of $25.37 million. OP Bancorp had a return on equity of 12.20% and a net margin of 16.12%. Research analysts anticipate that OP Bancorp will post 1.91 earnings per share for the current fiscal year.

OP Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 7th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.9%. This is a positive change from OP Bancorp's previous quarterly dividend of $0.12. The ex-dividend date was Thursday, May 7th. OP Bancorp's dividend payout ratio is 30.77%.

Hedge Funds Weigh In On OP Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Empowered Funds LLC lifted its holdings in OP Bancorp by 9.3% in the first quarter. Empowered Funds LLC now owns 62,639 shares of the company's stock valued at $833,000 after buying an additional 5,349 shares during the period. Dimensional Fund Advisors LP grew its stake in OP Bancorp by 4.4% during the first quarter. Dimensional Fund Advisors LP now owns 636,128 shares of the company's stock worth $8,461,000 after purchasing an additional 26,618 shares during the period. BNP Paribas Financial Markets grew its stake in OP Bancorp by 96.7% during the third quarter. BNP Paribas Financial Markets now owns 2,492 shares of the company's stock worth $35,000 after purchasing an additional 1,225 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in OP Bancorp in the second quarter worth approximately $84,000. Finally, JPMorgan Chase & Co. increased its holdings in OP Bancorp by 6,423.0% in the second quarter. JPMorgan Chase & Co. now owns 5,675 shares of the company's stock worth $74,000 after purchasing an additional 5,588 shares in the last quarter. 53.63% of the stock is owned by institutional investors and hedge funds.

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.

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