DA Davidson Weighs in on OP Bancorp’s Q3 2024 Earnings (NASDAQ:OPBK)

OP Bancorp (NASDAQ:OPBK) – Equities research analysts at DA Davidson issued their Q3 2024 earnings per share (EPS) estimates for OP Bancorp in a report issued on Tuesday, July 30th. DA Davidson analyst G. Tenner forecasts that the company will post earnings of $0.32 per share for the quarter. The consensus estimate for OP Bancorp’s current full-year earnings is $1.30 per share. DA Davidson also issued estimates for OP Bancorp’s FY2025 earnings at $1.49 EPS.

OP Bancorp (NASDAQ:OPBK) last issued 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 company had revenue of $38.54 million during the quarter. OP Bancorp had a net margin of 14.52% and a return on equity of 11.00%.

Separately, Keefe, Bruyette & Woods lifted their price objective on OP Bancorp from $11.00 to $13.00 and gave the stock a “market perform” rating in a report on Monday.

OP Bancorp Stock Down 4.3 %

Shares of NASDAQ OPBK opened at $11.93 on Wednesday. OP Bancorp has a 52-week low of $8.23 and a 52-week high of $12.82. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.54. The company’s 50-day simple moving average is $10.19 and its 200-day simple moving average is $10.10. The firm has a market cap of $178.00 million, a price-to-earnings ratio of 8.52 and a beta of 0.63.

OP Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Thursday, August 8th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 4.02%. The ex-dividend date of this dividend is Thursday, August 8th. OP Bancorp’s dividend payout ratio is currently 34.29%.

Institutional Investors Weigh In On OP Bancorp

A number of hedge funds have recently modified their holdings of the business. Diversify Advisory Services LLC purchased a new stake in OP Bancorp during the 1st quarter valued at about $7,353,000. Ancora Advisors LLC grew its position in shares of OP Bancorp by 1.2% in the first quarter. Ancora Advisors LLC now owns 113,810 shares of the company’s stock valued at $1,136,000 after purchasing an additional 1,350 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of OP Bancorp by 13.7% in the first quarter. Russell Investments Group Ltd. now owns 48,924 shares of the company’s stock valued at $488,000 after purchasing an additional 5,896 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of OP Bancorp by 8.1% in the first quarter. Empowered Funds LLC now owns 44,348 shares of the company’s stock valued at $443,000 after purchasing an additional 3,325 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its position in OP Bancorp by 36.6% during the first quarter. O Shaughnessy Asset Management LLC now owns 40,486 shares of the company’s stock worth $404,000 after buying an additional 10,854 shares in the last quarter. 53.63% of the stock is currently owned by institutional investors and hedge funds.

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.