OP Bancorp Expected to Earn FY2022 Earnings of $2.21 Per Share (OTCMKTS:OPBK)

OP Bancorp (OTCMKTS:OPBKGet Rating) – Stock analysts at DA Davidson lowered their FY2022 earnings estimates for shares of OP Bancorp in a report issued on Monday, August 1st. DA Davidson analyst G. Tenner now anticipates that the company will post earnings per share of $2.21 for the year, down from their prior forecast of $2.34.

Separately, Keefe, Bruyette & Woods lowered shares of OP Bancorp from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $18.50 to $15.00 in a research note on Thursday, June 2nd.

OP Bancorp Stock Up 1.8 %

Shares of OTCMKTS OPBK opened at $11.45 on Wednesday. OP Bancorp has a 1 year low of $9.71 and a 1 year high of $14.86. The firm’s 50-day moving average is $11.00 and its 200-day moving average is $12.45.

OP Bancorp (OTCMKTS:OPBKGet Rating) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.01).

OP Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 25th. Shareholders of record on Thursday, August 11th will be issued a dividend of $0.12 per share. This is an increase from OP Bancorp’s previous quarterly dividend of $0.10. This represents a $0.48 annualized dividend and a yield of 4.19%. The ex-dividend date of this dividend is Wednesday, August 10th.

Insiders Place Their Bets

In other OP Bancorp news, Director Brian Choi acquired 10,000 shares of the stock in a transaction dated Thursday, June 9th. The shares were bought at an average cost of $11.60 per share, for a total transaction of $116,000.00. Following the completion of the acquisition, the director now directly owns 1,018,520 shares of the company’s stock, valued at $11,814,832. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Hedge Funds Weigh In On OP Bancorp

A number of institutional investors have recently added to or reduced their stakes in OPBK. Assenagon Asset Management S.A. acquired a new position in OP Bancorp during the fourth quarter worth $345,000. American Century Companies Inc. boosted its position in OP Bancorp by 37.1% during the fourth quarter. American Century Companies Inc. now owns 43,034 shares of the company’s stock worth $549,000 after purchasing an additional 11,654 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in OP Bancorp during the fourth quarter worth $134,000. Stieven Capital Advisors L.P. boosted its position in OP Bancorp by 23.9% during the fourth quarter. Stieven Capital Advisors L.P. now owns 458,505 shares of the company’s stock worth $5,851,000 after purchasing an additional 88,509 shares during the period. Finally, Acadian Asset Management LLC boosted its position in OP Bancorp by 2.4% during the fourth quarter. Acadian Asset Management LLC now owns 283,123 shares of the company’s stock worth $3,608,000 after purchasing an additional 6,674 shares during the period.

About OP Bancorp

(Get Rating)

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.

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Earnings History and Estimates for OP Bancorp (OTCMKTS:OPBK)

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