OP Bancorp (NASDAQ:OPBK) Stock Price Up 1.5% - Time to Buy?

On Wednesday, OP Bancorp (NASDAQ:OPBK) saw its share price increase by 1.5% during mid-day trading. The stock reached a peak price of $12.71 and concluded trading at $12.65. A total of 35,875 shares were exchanged, marking a 25% rise compared to the average daily trading volume of 28,810 shares. The previous closing price was $12.46.

Wall Street Analyst Weigh In

In related news, Keefe, Bruyette & Woods revised their price target for OP Bancorp from $19.00 to $18.00. They also assigned a "market perform" rating to the stock in a research note published on January 27th.

OP Bancorp Stock Performance

Currently, OP Bancorp's 50-day simple moving average stands at $13.87, while its 200-day simple moving average is $14.42. The company maintains a debt-to-equity ratio of 0.37, and both its quick and current ratios are at 1.00. With a market capitalization of $187.37 million, the stock carries a price-to-earnings (PE) ratio of 9.10 and a beta of 0.60.

OP Bancorp recently released its quarterly earnings report on January 23rd, where it reported earnings per share of $0.33. This figure fell short of the consensus estimate of $0.36 by $0.03. The company reported a return on equity of 10.64% and a net margin of 13.68%. Analysts forecast that OP Bancorp's earnings per share for the current year will be 1.9.

OP Bancorp Dividend Announcement

The company recently announced a quarterly dividend that was paid on February 20th. Shareholders who were on record as of February 6th received a dividend of $0.12 per share, with the ex-dividend date also being February 6th. This indicates an annualized dividend of $0.48, translating to a yield of 3.79%. OP Bancorp's payout ratio stands at 34.53%.

Institutional Trading of OP Bancorp

Several large investors have recently engaged in buying and selling shares of OP Bancorp. Notably, Truffle Hound Capital LLC acquired a new stake valued at approximately $9.17 million in the fourth quarter. Additionally, Rhino Investment Partners Inc increased its holdings by 18.6%, which now totals 565,494 shares valued at about $8.94 million. Dimensional Fund Advisors LP raised its position by 3.8%, holding 514,902 shares worth $8.14 million. Other notable investors include Bridgeway Capital Management LLC and Susquehanna International Group LLP, who both ramped up their stakes in the company during the same period. Currently, institutional investors and hedge funds own 53.63% of OP Bancorp's stock.

About OP Bancorp

OP Bancorp operates as the bank holding company for Open Bank and offers a variety of banking products and services throughout California. These offerings include demand accounts, checking, savings, money market accounts, time deposits, and certificates of deposit. Additionally, the company provides loans such as commercial real estate, small business administration loans, and home mortgage loans, as well as trade financing products, letters of credit, and export advice.

Stock, Investment, Finance