Op Bancorp (OTCMKTS:OPBK) to Post Q3 2019 Earnings of $0.24 Per Share, DA Davidson Forecasts

Op Bancorp (OTCMKTS:OPBK) – Research analysts at DA Davidson raised their Q3 2019 earnings estimates for Op Bancorp in a report released on Monday, April 29th, Zacks Investment Research reports. DA Davidson analyst G. Tenner now anticipates that the company will post earnings of $0.24 per share for the quarter, up from their previous forecast of $0.22. DA Davidson has a “Buy” rating on the stock. DA Davidson also issued estimates for Op Bancorp’s Q4 2019 earnings at $0.25 EPS and FY2019 earnings at $1.04 EPS.

Separately, Zacks Investment Research upgraded shares of Op Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, April 2nd.

Shares of OTCMKTS:OPBK traded up $0.06 during trading on Thursday, reaching $10.52. 37,400 shares of the stock traded hands, compared to its average volume of 45,906. Op Bancorp has a 52-week low of $8.07 and a 52-week high of $14.10.

Op Bancorp (OTCMKTS:OPBK) last posted its quarterly earnings results on Friday, April 26th. The company reported $0.29 EPS for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.08. The firm had revenue of $14.38 million for the quarter, compared to analysts’ expectations of $12.80 million.

Institutional investors and hedge funds have recently bought and sold shares of the stock. SCW Capital Management LP purchased a new position in shares of Op Bancorp in the 4th quarter worth $6,787,000. The Manufacturers Life Insurance Company grew its stake in shares of Op Bancorp by 146.7% in the 1st quarter. The Manufacturers Life Insurance Company now owns 797,945 shares of the company’s stock worth $6,982,000 after buying an additional 474,546 shares in the last quarter. Context BH Capital Management LP grew its stake in shares of Op Bancorp by 57.4% in the 1st quarter. Context BH Capital Management LP now owns 511,948 shares of the company’s stock worth $4,480,000 after buying an additional 186,753 shares in the last quarter. Vanguard Group Inc grew its stake in shares of Op Bancorp by 151.5% in the 3rd quarter. Vanguard Group Inc now owns 230,103 shares of the company’s stock worth $2,670,000 after buying an additional 138,609 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Op Bancorp by 151.5% in the 3rd quarter. Vanguard Group Inc. now owns 230,103 shares of the company’s stock worth $2,670,000 after buying an additional 138,609 shares in the last quarter.

In other news, Director Soo Hun Jung sold 20,000 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $10.51, for a total transaction of $210,200.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be given a dividend of $0.05 per share. The ex-dividend date is Thursday, May 9th. This represents a $0.20 annualized dividend and a dividend yield of 1.90%.

Op Bancorp Company Profile

OP Bancorp operates as the bank holding company for Open Bank that provides banking products and services in California. It generates certificates of deposit, installment accounts, money market accounts, retirement accounts, demand and time deposits, and savings accounts, as well as various personal and business checking accounts.

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

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