Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of OP Bancorp (NASDAQ:OPBK – Free Report) in the second quarter, Holdings Channel reports. The firm purchased 156,511 shares of the company’s stock, valued at approximately $2,346,000.
Other institutional investors have also recently bought and sold shares of the company. Diversify Advisory Services LLC bought a new position in shares of OP Bancorp in the second quarter valued at $28,733,000. BlackRock Inc. bought a new stake in shares of OP Bancorp during the second quarter worth about $14,995,000. Deutsche Bank AG acquired a new stake in shares of OP Bancorp in the 2nd quarter worth about $178,000. Bank of New York Mellon Corp bought a new position in OP Bancorp in the 2nd quarter valued at about $1,004,000. Finally, Empowered Funds LLC lifted its position in OP Bancorp by 9.3% in the 1st quarter. Empowered Funds LLC now owns 62,639 shares of the company’s stock valued at $833,000 after acquiring an additional 5,349 shares in the last quarter. Institutional investors and hedge funds own 53.63% of the company’s stock.
Analysts Set New Price Targets
OPBK has been the subject of several analyst reports. Zacks Research raised OP Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 29th. DA Davidson upped their price target on OP Bancorp from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. Weiss Ratings raised OP Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, June 18th. Keefe, Bruyette & Woods lifted their price objective on shares of OP Bancorp from $17.00 to $17.50 and gave the stock a “market perform” rating in a report on Monday, July 27th. Finally, Wall Street Zen downgraded shares of OP Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $17.75.
OP Bancorp Stock Down 0.3%
Shares of NASDAQ:OPBK opened at $15.13 on Friday. The company has a market capitalization of $225.89 million, a PE ratio of 7.84 and a beta of 0.59. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.02 and a quick ratio of 1.01. The business has a fifty day moving average price of $15.25 and a two-hundred day moving average price of $14.33. OP Bancorp has a 1 year low of $12.41 and a 1 year high of $16.83.
OP Bancorp (NASDAQ:OPBK – Get Free Report) last released its earnings results on Thursday, July 23rd. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.09. The company had revenue of $25.72 million for the quarter, compared to analysts’ expectations of $25.15 million. OP Bancorp had a return on equity of 12.59% and a net margin of 16.87%. Analysts forecast that OP Bancorp will post 2.06 earnings per share for the current year.
OP Bancorp Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th were given a $0.14 dividend. The ex-dividend date of this dividend was Thursday, August 6th. This represents a $0.56 annualized dividend and a yield of 3.7%. OP Bancorp’s payout ratio is currently 29.02%.
About OP Bancorp
OP Bancorp is the bank holding company for Old Point National Bank, a community-focused financial institution headquartered in Suffolk, Virginia. Through its subsidiary, the company offers a broad range of commercial and consumer banking services designed to meet the needs of businesses, professionals and individuals across the Hampton Roads and Virginia Peninsula regions. Core services include business lending, real estate financing, deposit accounts, cash management solutions and treasury services.
The company’s lending portfolio spans commercial real estate loans, construction and land development financing, equipment loans and lines of credit tailored for small and medium-sized enterprises.
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