OP Bancorp (NASDAQ:OPBK) Releases Quarterly Earnings Results, Misses Expectations By $0.05 EPS

OP Bancorp (NASDAQ:OPBK) released its earnings results on Thursday. The company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.05), Zacks reports. OP Bancorp had a net margin of 14.42% and a return on equity of 11.09%.

OP Bancorp Stock Down 1.1%

Shares of OPBK stock traded down $0.16 on Thursday, hitting $14.80. The stock had a trading volume of 27,107 shares, compared to its average volume of 34,402. The stock’s 50 day moving average is $14.04 and its 200-day moving average is $13.82. The firm has a market capitalization of $220.37 million, a price-to-earnings ratio of 9.43 and a beta of 0.68. OP Bancorp has a 52-week low of $10.43 and a 52-week high of $16.07. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.01 and a current ratio of 1.01.

Institutional Trading of OP Bancorp

Several large investors have recently modified their holdings of the business. Amundi purchased a new stake in shares of OP Bancorp during the first quarter worth about $26,000. BNP Paribas Financial Markets increased its holdings in OP Bancorp by 96.7% during 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 during the last quarter. JPMorgan Chase & Co. increased its holdings in OP Bancorp by 6,423.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 5,675 shares of the company’s stock worth $74,000 after purchasing an additional 5,588 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of OP Bancorp in the 2nd quarter valued at approximately $84,000. Finally, Bank of America Corp DE boosted its stake in shares of OP Bancorp by 880.9% during the 4th quarter. Bank of America Corp DE now owns 5,758 shares of the company’s stock valued at $91,000 after buying an additional 5,171 shares during the last quarter. 53.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of OP Bancorp from $15.50 to $16.00 and gave the company a “market perform” rating in a research note on Monday, October 27th. DA Davidson raised their price objective on OP Bancorp from $16.50 to $17.00 and gave the stock a “buy” rating in a report on Tuesday, October 28th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of OP Bancorp in a research note on Monday, December 29th. Finally, Zacks Research cut OP Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $16.50.

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.