OP Bancorp (NASDAQ:OPBK) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

OP Bancorp (NASDAQ:OPBK) issued its earnings results on Thursday. The company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03, Zacks reports. OP Bancorp had a net margin of 14.52% and a return on equity of 10.92%. The business had revenue of $39.54 million for the quarter.

OP Bancorp Price Performance

Shares of OPBK stock opened at $14.15 on Friday. The firm has a fifty day simple moving average of $12.64 and a 200-day simple moving average of $11.05. The company has a market capitalization of $211.12 million, a PE ratio of 10.11 and a beta of 0.63. OP Bancorp has a twelve month low of $8.30 and a twelve month high of $14.38. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.59.

OP Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.39%. OP Bancorp’s payout ratio is currently 34.29%.

Insiders Place Their Bets

In other news, insider Ki Won Yoon sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $12.18, for a total transaction of $60,900.00. Following the completion of the sale, the insider now directly owns 47,137 shares in the company, valued at $574,128.66. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 21.34% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods restated a “market perform” rating and set a $13.00 price objective on shares of OP Bancorp in a research note on Monday, August 26th.

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.