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

Shares of OP Bancorp (NASDAQ:OPBK) dropped 0.2% during mid-day trading on Tuesday . The stock traded as low as $14.04 and last traded at $14.11. Approximately 23,107 shares traded 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 several analyst reports. Weiss Ratings upgraded OP Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 18th. DA Davidson restated a “buy” rating and set a $17.00 price objective on shares of OP Bancorp in a report on Tuesday, April 28th. Wall Street Zen cut OP Bancorp from a “buy” rating to a “hold” rating in a report on Sunday, May 3rd. Finally, Zacks Research upgraded OP Bancorp from a “strong sell” rating to a “hold” rating in a report on Friday, March 27th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $16.50.

OP Bancorp Stock Down 0.2%

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

OP Bancorp (NASDAQ:OPBK) last issued its earnings results on Thursday, April 23rd. The company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.07. OP Bancorp had a return on equity of 12.20% and a net margin of 16.12%.The firm had revenue of $24.56 million for the quarter, compared to analysts’ expectations of $25.37 million. As a group, analysts predict that OP Bancorp will post 1.9 EPS for the current fiscal year.

OP Bancorp Increases Dividend

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Amundi acquired a new position in shares of OP Bancorp during the first quarter worth about $26,000. BNP Paribas Financial Markets lifted its stake in shares of OP Bancorp by 96.7% during the third quarter. BNP Paribas Financial Markets now owns 2,492 shares of the company’s stock worth $35,000 after purchasing an additional 1,225 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of OP Bancorp by 6,423.0% during the second quarter. JPMorgan Chase & Co. now owns 5,675 shares of the company’s stock worth $74,000 after purchasing an additional 5,588 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of OP Bancorp by 880.9% during the fourth quarter. Bank of America Corp DE now owns 5,758 shares of the company’s stock worth $91,000 after purchasing an additional 5,171 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of OP Bancorp during the second quarter worth about $84,000. Institutional investors and hedge funds own 53.63% of the company’s stock.

About OP Bancorp

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.