OP Bancorp (NASDAQ:OPBK) Posts Quarterly Earnings Results

OP Bancorp (NASDAQ:OPBK) posted its quarterly earnings results on Thursday. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.02, FiscalAI reports. OP Bancorp had a return on equity of 12.59% and a net margin of 16.87%. The business had revenue of $27.50 million for the quarter, compared to the consensus estimate of $26.50 million.

OP Bancorp Stock Up 2.7%

OP Bancorp stock traded up $0.39 during mid-day trading on Thursday, reaching $15.02. 28,238 shares of the company were exchanged, compared to its average volume of 41,886. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.01 and a current ratio of 1.02. The firm has a market cap of $224.25 million, a P/E ratio of 7.78 and a beta of 0.62. The business has a fifty day moving average of $15.20 and a 200 day moving average of $14.80. OP Bancorp has a 12-month low of $12.41 and a 12-month high of $16.83.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Keefe, Bruyette & Woods lifted their price objective on OP Bancorp from $17.00 to $17.50 and gave the company a “market perform” rating in a report on Monday, July 27th. Wall Street Zen lowered shares of OP Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. DA Davidson increased their target price on shares of OP Bancorp from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. Weiss Ratings reissued a “buy (b)” rating on shares of OP Bancorp in a research report on Monday, September 14th. Finally, Zacks Research downgraded shares of OP Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 28th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, OP Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $17.75.

OP Bancorp Company Profile

OP Bancorp is the bank holding company for Open Bank, a full-service commercial bank headquartered in Los Angeles, California. Open Bank primarily serves small and medium-sized businesses, entrepreneurs, professionals and individuals, with a focus on relationship-based banking.

The bank offers commercial and consumer deposit products, commercial real estate and business loans, residential mortgage loans, lines of credit and other lending services. It also provides online and mobile banking, treasury management and other services designed to support business and personal financial needs.

Open Bank was established to serve the banking needs of diverse communities, including Korean American and other Asian American customers.