Keefe, Bruyette & Woods Reaffirms Market Perform Rating for OP Bancorp (NASDAQ:OPBK)

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

OP Bancorp Price Performance

Shares of OPBK stock opened at $12.68 on Monday. OP Bancorp has a twelve month low of $8.23 and a twelve month high of $13.03. The stock has a market capitalization of $189.19 million, a price-to-earnings ratio of 9.06 and a beta of 0.63. The stock has a fifty day simple moving average of $11.30 and a two-hundred day simple moving average of $10.32. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.59.

OP Bancorp (NASDAQ:OPBK) last issued its earnings results on Thursday, July 25th. The company reported $0.36 earnings per share 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. On average, analysts predict that OP Bancorp will post 1.39 EPS for the current fiscal year.

OP Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were given 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 news, insider Ki Won Yoon sold 5,000 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now directly owns 47,137 shares of the company’s stock, valued at approximately $574,128.66. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 21.34% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in OPBK. AJOVista LLC acquired a new position in OP Bancorp during the 4th quarter valued at about $83,000. Ritholtz Wealth Management increased its position in OP Bancorp by 44.9% during the 2nd 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 position in OP Bancorp during the 4th quarter valued at about $274,000. O Shaughnessy Asset Management LLC increased its position in 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 buying an additional 10,854 shares in the last quarter. Finally, Empowered Funds LLC increased its position in OP Bancorp by 8.1% during the 1st quarter. Empowered Funds LLC now owns 44,348 shares of the company’s stock valued at $443,000 after buying an additional 3,325 shares in the last quarter. 53.63% of the stock is owned by institutional investors.

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.