OP Bancorp (NASDAQ:OPBK) Shares Down 0.2% – Time to Sell?

OP Bancorp (NASDAQ:OPBK) shares dropped 0.2% during trading on Tuesday . The company traded as low as $14.04 and last traded at $14.11. Approximately 23,107 shares changed hands during trading, a decline of 28% from the average daily volume of 32,091 shares. The stock had previously closed at $14.14.

Analyst Upgrades and Downgrades

OPBK has been the topic of a number of analyst reports. Wall Street Zen lowered OP Bancorp from a “buy” rating to a “hold” rating in a research report on Sunday, May 3rd. DA Davidson reaffirmed a “buy” rating and set a $17.00 target price on shares of OP Bancorp in a research report on Tuesday, April 28th. Zacks Research raised OP Bancorp from a “strong sell” rating to a “hold” rating in a research report on Friday, March 27th. Finally, Weiss Ratings raised OP Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 18th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, OP Bancorp has an average rating of “Moderate Buy” and an average price target of $16.50.

OP Bancorp Stock Performance

The company has a debt-to-equity ratio of 0.43, a current ratio of 1.02 and a quick ratio of 1.01. The stock has a market capitalization of $210.15 million, a P/E ratio of 7.75 and a beta of 0.62. The company has a fifty day moving average of $13.87 and a two-hundred day moving average of $13.88.

OP Bancorp (NASDAQ:OPBK) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.07. The firm had revenue of $24.56 million during the quarter, compared to analyst estimates of $25.37 million. OP Bancorp had a return on equity of 12.20% and a net margin of 16.12%. On average, equities analysts anticipate that OP Bancorp will post 1.9 EPS for the current year.

OP Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 7th were issued a $0.14 dividend. This is an increase from OP Bancorp’s previous quarterly dividend of $0.12. This represents a $0.56 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Thursday, May 7th. OP Bancorp’s dividend payout ratio is presently 30.77%.

Institutional Trading of OP Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Empowered Funds LLC increased its holdings in OP Bancorp by 9.3% in the first quarter. Empowered Funds LLC now owns 62,639 shares of the company’s stock valued at $833,000 after buying an additional 5,349 shares during the last quarter. Lazard Asset Management LLC bought a new stake in OP Bancorp in the first quarter valued at about $180,000. Arrowstreet Capital Limited Partnership increased its holdings in OP Bancorp by 16.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 155,590 shares of the company’s stock valued at $2,069,000 after buying an additional 21,713 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in OP Bancorp by 4.4% in the first quarter. Dimensional Fund Advisors LP now owns 636,128 shares of the company’s stock valued at $8,461,000 after buying an additional 26,618 shares during the last quarter. Finally, Diversify Wealth Management LLC bought a new position in shares of OP Bancorp during the first quarter valued at approximately $26,511,000. 53.63% of the stock is owned by institutional investors.

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.