FY2024 EPS Estimates for OP Bancorp Lifted by DA Davidson

OP Bancorp (NASDAQ:OPBK) – DA Davidson raised their FY2024 EPS estimates for OP Bancorp in a report issued on Monday, October 28th. DA Davidson analyst G. Tenner now expects 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.

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

OP Bancorp Price Performance

OP Bancorp stock opened at $15.08 on Wednesday. The firm has a market cap of $224.99 million, a PE ratio of 10.81 and a beta of 0.63. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.02 and a quick ratio of 1.01. The stock’s fifty day moving average price is $12.68 and its two-hundred day moving average price is $11.10. OP Bancorp has a one year low of $8.36 and a one year high of $15.21.

OP Bancorp (NASDAQ:OPBK) last announced its earnings results on Thursday, October 24th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.33 by $0.03. The company had revenue of $39.54 million for the quarter. OP Bancorp had a net margin of 14.18% and a return on equity of 10.94%.

OP Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $0.48 annualized dividend and a dividend yield of 3.18%. OP Bancorp’s dividend payout ratio is 34.29%.

Insider Activity at OP Bancorp

In other OP Bancorp news, insider Ki Won Yoon sold 5,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $12.18, for a total transaction of $60,900.00. Following the completion of the sale, the insider now directly owns 47,137 shares in the company, valued at $574,128.66. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 21.34% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Diversify Advisory Services LLC acquired a new stake in shares of OP Bancorp in the 1st quarter valued at approximately $7,353,000. ClariVest Asset Management LLC grew its stake in shares of OP Bancorp by 2.9% during the second quarter. ClariVest Asset Management LLC now owns 90,509 shares of the company’s stock worth $868,000 after buying an additional 2,528 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of OP Bancorp by 8.1% during the first quarter. Empowered Funds LLC now owns 44,348 shares of the company’s stock worth $443,000 after buying an additional 3,325 shares in the last quarter. Ritholtz Wealth Management lifted its stake in shares of OP Bancorp by 49.7% in the 3rd quarter. Ritholtz Wealth Management now owns 35,948 shares of the company’s stock valued at $449,000 after acquiring an additional 11,934 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of OP Bancorp by 40.1% during the 2nd quarter. Renaissance Technologies LLC now owns 112,060 shares of the company’s stock valued at $1,075,000 after acquiring an additional 32,060 shares in the last quarter. Institutional investors and hedge funds own 53.63% of the company’s stock.

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.