OP Bancorp’s (OPBK) “Market Perform” Rating Reaffirmed at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods restated their market perform rating on shares of OP Bancorp (NASDAQ:OPBK) in a research report sent to investors on Monday morning, Benzinga reports. The firm currently has a $13.00 price objective on the stock.

OP Bancorp Stock Down 1.3 %

OPBK opened at $12.68 on Monday. OP Bancorp has a 52 week low of $8.23 and a 52 week high of $13.03. The business has a 50 day moving average price of $11.10 and a two-hundred day moving average price of $10.27. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.59. The company has a market cap of $189.19 million, a PE ratio of 9.06 and a beta of 0.63.

OP Bancorp (NASDAQ:OPBK) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.30 by $0.06. OP Bancorp had a return on equity of 10.92% and a net margin of 14.52%. The business had revenue of $38.54 million during the quarter. As a group, research analysts anticipate that OP Bancorp will post 1.39 EPS for the current year.

OP Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 3.79%. The ex-dividend date was Thursday, August 8th. OP Bancorp’s payout ratio is 34.29%.

Insider Transactions at OP Bancorp

In other OP Bancorp news, insider Ki Won Yoon sold 5,000 shares of OP Bancorp stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $12.18, for a total value of $60,900.00. Following the sale, the insider now owns 47,137 shares of the company’s stock, valued at approximately $574,128.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 21.34% of the company’s stock.

Institutional Investors Weigh In On OP Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the business. AJOVista LLC purchased a new position in shares of OP Bancorp in the 4th quarter valued at about $83,000. Ritholtz Wealth Management increased its holdings in OP Bancorp by 44.9% in the second quarter. Ritholtz Wealth Management now owns 24,014 shares of the company’s stock valued at $230,000 after buying an additional 7,440 shares in the last quarter. Hilltop Holdings Inc. acquired a new stake in shares of OP Bancorp during the 4th quarter valued at approximately $274,000. O Shaughnessy Asset Management LLC lifted its position in shares of OP Bancorp by 36.6% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 40,486 shares of the company’s stock valued at $404,000 after acquiring an additional 10,854 shares during the period. Finally, Empowered Funds LLC boosted its stake in shares of OP Bancorp by 8.1% during the 1st quarter. Empowered Funds LLC now owns 44,348 shares of the company’s stock worth $443,000 after acquiring an additional 3,325 shares in the last quarter. 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.