Research Analysts Offer Predictions for OP Bancorp’s Q3 2024 Earnings (NASDAQ:OPBK)

OP Bancorp (NASDAQ:OPBK) – Equities research analysts at DA Davidson lifted their Q3 2024 EPS estimates for shares of OP Bancorp in a research note issued on Thursday, October 3rd. DA Davidson analyst G. Tenner now anticipates that the company will earn $0.33 per share for the quarter, up from their previous forecast of $0.32. The consensus estimate for OP Bancorp’s current full-year earnings is $1.39 per share. DA Davidson also issued estimates for OP Bancorp’s FY2025 earnings at $1.47 EPS.

OP Bancorp (NASDAQ:OPBK) last posted 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. The business had revenue of $38.54 million during the quarter. OP Bancorp had a net margin of 14.52% and a return on equity of 10.92%.

Separately, Keefe, Bruyette & Woods restated a “market perform” rating and set a $13.00 target price on shares of OP Bancorp in a research note on Monday, August 26th.

OP Bancorp Trading Up 0.3 %

OPBK opened at $12.24 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.02 and a quick ratio of 1.01. The stock has a market capitalization of $182.62 million, a price-to-earnings ratio of 8.74 and a beta of 0.63. The business has a fifty day moving average price of $12.37 and a 200 day moving average price of $10.70. OP Bancorp has a 12 month low of $8.23 and a 12 month high of $13.03.

Institutional Trading of OP Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OPBK. Diversify Advisory Services LLC acquired a new position in shares of OP Bancorp in the 1st quarter valued at $7,353,000. Dimensional Fund Advisors LP boosted 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 in the last quarter. Ancora Advisors LLC grew 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 worth $1,136,000 after purchasing an additional 1,350 shares during the last quarter. Renaissance Technologies LLC increased 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 in the last quarter. Finally, ClariVest Asset Management LLC lifted its holdings in shares of OP Bancorp by 2.9% in the 2nd quarter. ClariVest Asset Management LLC now owns 90,509 shares of the company’s stock valued at $868,000 after purchasing an additional 2,528 shares during the last quarter. Institutional investors and hedge funds own 53.63% of the company’s stock.

Insider Activity at OP Bancorp

In other OP Bancorp news, insider Ki Won Yoon sold 5,000 shares of OP Bancorp stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $12.18, for a total transaction of $60,900.00. Following the completion of the sale, the insider now directly owns 47,137 shares of the company’s stock, valued at approximately $574,128.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 21.34% of the stock is currently owned by corporate insiders.

OP Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were paid a dividend of $0.12 per share. The ex-dividend date was Thursday, August 8th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.92%. OP Bancorp’s payout ratio is currently 34.29%.

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.