Jaehyun Park Sells 958 Shares of OP Bancorp (NASDAQ:OPBK) Stock

OP Bancorp (NASDAQ:OPBK) CFO Jaehyun Park sold 958 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $12.91, for a total transaction of $12,367.78. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

OP Bancorp Stock Down 0.2%

OP Bancorp stock opened at $12.95 on Friday. The firm has a market cap of $192.83 million, a price-to-earnings ratio of 7.57 and a beta of 0.66. OP Bancorp has a 52-week low of $10.43 and a 52-week high of $15.27. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a 50 day moving average price of $13.94 and a two-hundred day moving average price of $13.90.

OP Bancorp (NASDAQ:OPBK) last posted its quarterly earnings data on Thursday, January 22nd. The company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.05). OP Bancorp had a net margin of 15.39% and a return on equity of 11.93%. The firm had revenue of $24.28 million during the quarter, compared to the consensus estimate of $24.85 million. Equities analysts predict that OP Bancorp will post 1.9 EPS for the current year.

OP Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Thursday, February 5th were issued a $0.12 dividend. The ex-dividend date was Thursday, February 5th. This represents a $0.48 annualized dividend and a yield of 3.7%. OP Bancorp’s payout ratio is presently 28.07%.

Wall Street Analysts Forecast Growth

OPBK has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of OP Bancorp in a report on Monday, December 29th. Zacks Research downgraded OP Bancorp from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 27th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $16.50.

Institutional Investors Weigh In On OP Bancorp

A number of hedge funds have recently added to or reduced their stakes in the company. Amundi bought a new stake in shares of OP Bancorp during the first quarter valued at approximately $26,000. BNP Paribas Financial Markets lifted its holdings in shares of OP Bancorp by 96.7% in the 3rd 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 in the last quarter. Police & Firemen s Retirement System of New Jersey bought a new position in shares of OP Bancorp in the 2nd quarter worth $33,000. JPMorgan Chase & Co. grew its position in OP Bancorp by 6,423.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,675 shares of the company’s stock valued at $74,000 after purchasing an additional 5,588 shares during the period. Finally, Bank of America Corp DE grew its position in OP Bancorp by 880.9% in the 4th quarter. Bank of America Corp DE now owns 5,758 shares of the company’s stock valued at $91,000 after purchasing an additional 5,171 shares during the period. Institutional investors and hedge funds own 53.63% of the company’s stock.

About OP Bancorp

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.