FY2024 EPS Estimates for OP Bancorp Boosted by DA Davidson

OP Bancorp (NASDAQ:OPBK) – Equities research analysts at DA Davidson raised their FY2024 earnings per share (EPS) estimates for shares of OP Bancorp in a note issued to investors 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 previous forecast 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 reiterated a “market perform” rating and set a $13.00 price objective on shares of OP Bancorp in a research report on Monday, August 26th.

OP Bancorp Stock Performance

NASDAQ:OPBK opened at $15.08 on Wednesday. The company has a market capitalization of $224.99 million, a PE ratio of 10.81 and a beta of 0.63. OP Bancorp has a fifty-two week low of $8.36 and a fifty-two week high of $15.21. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.01 and a current ratio of 1.02. The company has a 50 day simple moving average of $12.68 and a two-hundred day simple moving average of $11.10.

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

OP Bancorp Dividend Announcement

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

Insiders Place Their Bets

In other OP Bancorp news, insider Ki Won Yoon sold 5,000 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 47,137 shares in the company, valued at approximately $574,128.66. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 21.34% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On OP Bancorp

Several institutional investors have recently made changes to their positions in OPBK. Diversify Advisory Services LLC acquired a new stake in shares of OP Bancorp in the 1st quarter valued at about $7,353,000. Dimensional Fund Advisors LP grew its stake in OP Bancorp by 8.0% in the second quarter. Dimensional Fund Advisors LP now owns 476,934 shares of the company’s stock valued at $4,573,000 after acquiring an additional 35,288 shares during the period. Ancora Advisors LLC increased its holdings in shares of OP Bancorp by 1.2% during 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. Renaissance Technologies LLC raised its position in shares of OP Bancorp by 40.1% during the second quarter. Renaissance Technologies LLC now owns 112,060 shares of the company’s stock worth $1,075,000 after purchasing an additional 32,060 shares during the period. Finally, ClariVest Asset Management LLC raised its position 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 purchasing an additional 2,528 shares during the period. Institutional investors and hedge funds own 53.63% of the company’s stock.

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.