OP Bancorp (NASDAQ:OPBK) Trading 1.5% Higher – Here’s Why

Shares of OP Bancorp (NASDAQ:OPBK) rose 1.5% on Wednesday . The company traded as high as $12.71 and last traded at $12.65. Approximately 35,875 shares were traded during mid-day trading, an increase of 25% from the average daily volume of 28,810 shares. The stock had previously closed at $12.46.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods cut their price target on OP Bancorp from $19.00 to $18.00 and set a “market perform” rating for the company in a research note on Monday, January 27th.

OP Bancorp Stock Down 2.1 %

The company’s 50-day simple moving average is $13.82 and its two-hundred day simple moving average is $14.41. The firm has a market capitalization of $180.85 million, a P/E ratio of 8.78 and a beta of 0.60. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 1.00.

OP Bancorp (NASDAQ:OPBK) last announced its earnings results on Thursday, January 23rd. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). OP Bancorp had a return on equity of 10.64% and a net margin of 13.68%. As a group, research analysts expect that OP Bancorp will post 1.9 earnings per share for the current year.

OP Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were given a $0.12 dividend. The ex-dividend date was Thursday, February 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.93%. OP Bancorp’s payout ratio is currently 34.53%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Cubist Systematic Strategies LLC bought a new stake in OP Bancorp during the fourth quarter valued at about $68,000. Barclays PLC bought a new stake in OP Bancorp during the 3rd quarter valued at approximately $58,000. Bank of America Corp DE lifted its holdings 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 worth $91,000 after purchasing an additional 5,171 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in OP Bancorp in the 4th quarter worth approximately $95,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in OP Bancorp during the 4th quarter valued at approximately $274,000. Hedge funds and other institutional investors 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.