OP Bancorp (NASDAQ:OPBK) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

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

OP Bancorp Trading Up 2.7%

OP Bancorp stock traded up $0.39 during mid-day trading on Thursday, hitting $15.02. The stock had a trading volume of 28,238 shares, compared to its average volume of 41,886. The stock has a 50-day simple moving average of $15.20 and a two-hundred day simple moving average of $14.80. The stock has a market capitalization of $224.25 million, a PE ratio of 7.78 and a beta of 0.62. OP Bancorp has a 12 month low of $12.41 and a 12 month high of $16.83. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.42.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on OPBK. Wall Street Zen cut OP Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. DA Davidson boosted their price objective on OP Bancorp from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Weiss Ratings restated a “buy (b)” rating on shares of OP Bancorp in a report on Monday, September 14th. Keefe, Bruyette & Woods upped their price target on shares of OP Bancorp from $17.00 to $17.50 and gave the stock a “market perform” rating in a research report on Monday, July 27th. Finally, Zacks Research cut shares of OP Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 28th. Two equities research 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, OP Bancorp has an average rating of “Moderate Buy” and a consensus target price 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.