OP Bancorp (NASDAQ:OPBK – Get Free Report) issued its earnings results on Thursday. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.07, Zacks reports. OP Bancorp had a return on equity of 12.20% and a net margin of 16.12%.
OP Bancorp Stock Up 0.4%
Shares of OPBK traded up $0.06 during midday trading on Thursday, hitting $14.79. 25,645 shares of the company’s stock traded hands, compared to its average volume of 39,202. OP Bancorp has a 1 year low of $12.41 and a 1 year high of $15.73. The firm’s fifty day moving average is $14.47 and its 200-day moving average is $14.10. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $220.22 million, a price-to-earnings ratio of 8.13 and a beta of 0.60.
Analyst Ratings Changes
Several equities analysts have recently commented on the company. DA Davidson restated a “buy” rating and set a $17.00 price target on shares of OP Bancorp in a research note on Tuesday, April 28th. Weiss Ratings upgraded shares of OP Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, June 18th. Wall Street Zen downgraded shares of OP Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday, May 3rd. Finally, Zacks Research raised OP Bancorp from a “strong sell” rating to a “hold” rating in a research report on Friday, March 27th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, OP Bancorp currently has a consensus rating of “Moderate Buy” and an average price target of $16.50.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in OPBK. Bank of America Corp DE raised its stake in OP Bancorp by 880.9% in the fourth quarter. Bank of America Corp DE now owns 5,758 shares of the company’s stock valued at $91,000 after buying an additional 5,171 shares during the last quarter. Amundi acquired a new position in OP Bancorp during the 1st quarter valued at approximately $26,000. Goldman Sachs Group Inc. increased its stake in OP Bancorp by 45.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 62,824 shares of the company’s stock valued at $755,000 after purchasing an additional 19,758 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of OP Bancorp by 3.5% in the first quarter. Empowered Funds LLC now owns 54,763 shares of the company’s stock worth $658,000 after buying an additional 1,834 shares during the last quarter. Finally, Jane Street Group LLC raised its holdings in shares of OP Bancorp by 124.6% in the first quarter. Jane Street Group LLC now owns 45,394 shares of the company’s stock worth $546,000 after buying an additional 25,181 shares during the last quarter. 53.63% of the stock is owned by institutional investors and hedge funds.
OP Bancorp Company Profile
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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