FY2024 Earnings Forecast for OP Bancorp (NASDAQ:OPBK) Issued By DA Davidson

OP Bancorp (NASDAQ:OPBK - Free Report) - Analysts at DA Davidson lowered their FY2024 earnings per share (EPS) estimates for shares of OP Bancorp in a research report issued to clients and investors on Thursday, October 3rd. DA Davidson analyst G. Tenner now expects that the company will post earnings per share of $1.38 for the year, down from their previous forecast of $1.39. The consensus estimate for OP Bancorp's current full-year earnings is $1.39 per share.

OP Bancorp (NASDAQ:OPBK - Get Free Report) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.36 EPS for the quarter, beating analysts' consensus estimates of $0.30 by $0.06. OP Bancorp had a return on equity of 10.92% and a net margin of 14.52%. The firm had revenue of $38.54 million for the quarter.

Separately, Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $13.00 price target on shares of OP Bancorp in a research note on Monday, August 26th.

OP Bancorp Trading Down 1.0 %

NASDAQ:OPBK traded down $0.12 during mid-day trading on Monday, hitting $12.26. 10,683 shares of the company's stock were exchanged, compared to its average volume of 27,702. OP Bancorp has a fifty-two week low of $8.23 and a fifty-two week high of $13.03. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $182.92 million, a P/E ratio of 8.76 and a beta of 0.63. The company has a 50 day simple moving average of $12.37 and a 200-day simple moving average of $10.74.

OP Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were paid a $0.12 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $0.48 annualized dividend and a dividend yield of 3.92%. OP Bancorp's payout ratio is 34.29%.

Insider Transactions at OP Bancorp

In other news, insider Ki Won Yoon sold 5,000 shares of the business's 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 transaction, the insider now owns 47,137 shares in the company, valued at approximately $574,128.66. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 21.34% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in OPBK. Ritholtz Wealth Management boosted its stake in OP Bancorp by 44.9% during the second quarter. Ritholtz Wealth Management now owns 24,014 shares of the company's stock worth $230,000 after acquiring an additional 7,440 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its position in shares of OP Bancorp by 36.6% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 40,486 shares of the company's stock worth $404,000 after purchasing an additional 10,854 shares in the last quarter. Empowered Funds LLC boosted its holdings in OP Bancorp by 8.1% in the first quarter. Empowered Funds LLC now owns 44,348 shares of the company's stock worth $443,000 after acquiring an additional 3,325 shares in the last quarter. Russell Investments Group Ltd. grew its stake in OP Bancorp by 13.7% in the first quarter. Russell Investments Group Ltd. now owns 48,924 shares of the company's stock valued at $488,000 after acquiring an additional 5,896 shares during the period. Finally, ClariVest Asset Management LLC grew its stake in OP Bancorp by 2.9% in 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 during the period. 53.63% of the stock is owned by 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.