OP Bancorp (NASDAQ:OPBK) Stock Price Up 1.5% – Here’s What Happened

Shares of OP Bancorp (NASDAQ:OPBK) rose 1.5% during trading on Wednesday . The company traded as high as $12.71 and last traded at $12.65. Approximately 35,875 shares changed hands during mid-day trading, an increase of 25% from the average daily volume of 28,810 shares. The stock had previously closed at $12.46.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods decreased their target price on shares of OP Bancorp from $19.00 to $18.00 and set a “market perform” rating on the stock in a report on Monday, January 27th.

OP Bancorp Stock Up 1.5 %

The company has a 50 day moving average of $13.87 and a 200-day moving average of $14.42. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market cap of $187.37 million, a P/E ratio of 9.10 and a beta of 0.60.

OP Bancorp (NASDAQ:OPBK) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). OP Bancorp had a net margin of 13.68% and a return on equity of 10.64%. On average, equities analysts predict that OP Bancorp will post 1.9 earnings per share for the current year.

OP Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date of this dividend was Thursday, February 6th. OP Bancorp’s dividend payout ratio is currently 34.53%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in OPBK. Cubist Systematic Strategies LLC purchased a new position in shares of OP Bancorp in the 4th quarter worth about $68,000. Barclays PLC bought a new stake in OP Bancorp in the 3rd quarter worth approximately $58,000. Bank of America Corp DE boosted 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 worth $91,000 after buying an additional 5,171 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in OP Bancorp during the fourth quarter valued at approximately $95,000. Finally, Schonfeld Strategic Advisors LLC purchased a new position in shares of OP Bancorp during the fourth quarter worth approximately $274,000. Institutional investors own 53.63% of the company’s stock.

About OP Bancorp

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.