FY2024 EPS Estimates for OP Bancorp Boosted by DA Davidson

OP Bancorp (NASDAQ:OPBK - Free Report) - Equities research analysts at DA Davidson raised their FY2024 earnings estimates for shares of OP Bancorp in a report issued on Monday, October 28th. DA Davidson analyst G. Tenner now anticipates that the company will post earnings per share of $1.46 for the year, up from their prior estimate 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.

OP Bancorp (NASDAQ:OPBK - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The company reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.33 by $0.03. OP Bancorp had a net margin of 14.18% and a return on equity of 10.94%. The business had revenue of $39.54 million for the quarter.

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

OP Bancorp Stock Down 0.3 %

Shares of NASDAQ OPBK traded down $0.04 during mid-day trading on Wednesday, reaching $15.04. The company had a trading volume of 33,017 shares, compared to its average volume of 27,740. 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 50 day simple moving average of $12.73 and a two-hundred day simple moving average of $11.14. The stock has a market cap of $224.40 million, a P/E ratio of 10.71 and a beta of 0.63. OP Bancorp has a 52-week low of $8.36 and a 52-week high of $15.21.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Diversify Advisory Services LLC purchased a new stake in shares of OP Bancorp in the first quarter valued at about $7,353,000. Empowered Funds LLC boosted its holdings in shares of OP Bancorp by 8.1% in the first quarter. Empowered Funds LLC now owns 44,348 shares of the company's stock valued at $443,000 after acquiring an additional 3,325 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of 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 in the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in shares of OP Bancorp by 36.6% in the first quarter. O Shaughnessy Asset Management LLC now owns 40,486 shares of the company's stock valued at $404,000 after acquiring an additional 10,854 shares in the last quarter. Finally, Ancora Advisors LLC boosted its holdings in shares of OP Bancorp by 1.2% in 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 owned by hedge funds and other institutional investors.

Insider Activity at OP Bancorp

In other OP Bancorp news, insider Ki Won Yoon sold 5,000 shares of the firm's stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $12.18, for a total transaction of $60,900.00. Following the transaction, the insider now directly owns 47,137 shares of the company's stock, valued at approximately $574,128.66. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 21.34% of the company's stock.

OP Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date of this dividend is Thursday, November 7th. OP Bancorp's dividend payout ratio (DPR) is 34.29%.

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.