OP Bancorp (NASDAQ:OPBK) Trading Down 5% – What’s Next?

OP Bancorp (NASDAQ:OPBK)’s share price traded down 5% during mid-day trading on Monday . The company traded as low as $13.37 and last traded at $13.39. 39,406 shares traded hands during mid-day trading, an increase of 28% from the average session volume of 30,800 shares. The stock had previously closed at $14.09.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on OPBK shares. Keefe, Bruyette & Woods upped their price target on shares of OP Bancorp from $15.50 to $16.00 and gave the stock a “market perform” rating in a research report on Monday, October 27th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of OP Bancorp in a research note on Monday, December 29th. Zacks Research cut shares of OP Bancorp from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 27th. Finally, DA Davidson increased their target price on shares of OP Bancorp from $16.50 to $17.00 and gave the company a “buy” rating in a research report on Tuesday, October 28th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, OP Bancorp presently has an average rating of “Hold” and an average price target of $16.50.

OP Bancorp Stock Down 5.0%

The company has a debt-to-equity ratio of 0.34, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $199.38 million, a PE ratio of 7.83 and a beta of 0.68. The business’s 50 day simple moving average is $14.26 and its 200 day simple moving average is $13.94.

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

OP Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Thursday, February 5th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 3.6%. The ex-dividend date was Thursday, February 5th. OP Bancorp’s payout ratio is 28.07%.

Institutional Investors Weigh In On OP Bancorp

A number of institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC boosted its holdings in OP Bancorp by 7.5% during the 2nd quarter. Acadian Asset Management LLC now owns 291,491 shares of the company’s stock valued at $3,782,000 after acquiring an additional 20,379 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of OP Bancorp by 45.4% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 129,342 shares of the company’s stock valued at $1,680,000 after purchasing an additional 40,414 shares during the last quarter. Fourthstone LLC increased its holdings in OP Bancorp by 128.3% in the second quarter. Fourthstone LLC now owns 263,790 shares of the company’s stock valued at $3,427,000 after buying an additional 148,238 shares during the last quarter. Police & Firemen s Retirement System of New Jersey purchased a new stake in OP Bancorp during the 2nd quarter worth about $33,000. Finally, Daytona Street Capital LLC acquired a new position in shares of OP Bancorp during the 4th quarter worth about $123,000. 53.63% of the stock is currently owned by institutional investors and hedge funds.

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.