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OPBK

OP Bancorp NasdaqGM:OPBK Stock Report

Last Price

US$10.71

Market Cap

US$162.1m

7D

3.2%

1Y

8.6%

Updated

26 Jun, 2022

Data

Company Financials +
OPBK fundamental analysis
Snowflake Score
Valuation5/6
Future Growth2/6
Past Performance4/6
Financial Health6/6
Dividends2/6

OPBK Stock Overview

OP Bancorp operates as the bank holding company for Open Bank that provides banking products and services in California.

OP Bancorp Competitors

 

 

 

 

 

 

 

 

 

 

 

 

Price History & Performance

Summary of all time highs, changes and price drops for OP Bancorp
Historical stock prices
Current Share PriceUS$10.71
52 Week HighUS$14.86
52 Week LowUS$9.51
Beta0.46
1 Month Change-12.21%
3 Month Change-22.45%
1 Year Change8.62%
3 Year Change-1.20%
5 Year Change35.57%
Change since IPO-12.57%

Recent News & Updates

Jun 14
If You Like EPS Growth Then Check Out OP Bancorp (NASDAQ:OPBK) Before It's Too Late

If You Like EPS Growth Then Check Out OP Bancorp (NASDAQ:OPBK) Before It's Too Late

For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to...

Shareholder Returns

OPBKUS MortgageUS Market
7D3.2%7.4%6.6%
1Y8.6%-37.4%-18.5%

Return vs Industry: OPBK exceeded the US Mortgage industry which returned -37.4% over the past year.

Return vs Market: OPBK exceeded the US Market which returned -18.5% over the past year.

Price Volatility

Is OPBK's price volatile compared to industry and market?
OPBK volatility
OPBK Average Weekly Movement5.3%
Mortgage Industry Average Movement3.7%
Market Average Movement8.0%
10% most volatile stocks in US Market16.6%
10% least volatile stocks in US Market3.1%

Stable Share Price: OPBK is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: OPBK's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
2005193Min Kimhttps://www.myopenbank.com

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.

OP Bancorp Fundamentals Summary

How do OP Bancorp's earnings and revenue compare to its market cap?
OPBK fundamental statistics
Market CapUS$162.13m
Earnings (TTM)US$31.50m
Revenue (TTM)US$82.59m

5.1x

P/E Ratio

1.0x

P/B Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
OPBK income statement (TTM)
RevenueUS$82.59m
Cost of RevenueUS$0
Gross ProfitUS$82.59m
Other ExpensesUS$51.09m
EarningsUS$31.50m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)2.08
Gross Margin100.00%
Net Profit Margin38.14%
Debt/Equity Ratio0%

How did OPBK perform over the long term?

See historical performance and comparison

Dividends

3.7%

Current Dividend Yield

18%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is OPBK undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for OPBK?

Other financial metrics that can be useful for relative valuation.

OPBK key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenuen/a
Enterprise Value/EBITDAn/a
PEG Ratio1.7x

Price to Earnings Ratio vs Peers

How does OPBK's PE Ratio compare to its peers?

OPBK PE Ratio vs Peers
The above table shows the PE ratio for OPBK vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average21.6x

Price-To-Earnings vs Peers: OPBK is good value based on its Price-To-Earnings Ratio (5.1x) compared to the peer average (21.6x).


Price to Earnings Ratio vs Industry

How does OPBK's PE Ratio compare vs other companies in the U.S. Mortgage Industry?

Price-To-Earnings vs Industry: OPBK is good value based on its Price-To-Earnings Ratio (5.1x) compared to the US Mortgage industry average (11.3x)


Price to Earnings Ratio vs Fair Ratio

What is OPBK's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

OPBK PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio5.1x
Fair PE Ratio10.8x

Price-To-Earnings vs Fair Ratio: OPBK is good value based on its Price-To-Earnings Ratio (5.1x) compared to the estimated Fair Price-To-Earnings Ratio (10.8x).


Share Price vs Fair Value

What is the Fair Price of OPBK when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: OPBK ($10.71) is trading below our estimate of fair value ($19.98)

Significantly Below Fair Value: OPBK is trading below fair value by more than 20%.


Price to Earnings Growth Ratio

PEG Ratio: OPBK is poor value based on its PEG Ratio (1.7x)


Discover undervalued companies

Future Growth

How is OP Bancorp forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

Future Growth Score

2/6

Future Growth Score 2/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


3.1%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: OPBK's forecast earnings growth (3.1% per year) is above the savings rate (1.9%).

Earnings vs Market: OPBK's earnings (3.1% per year) are forecast to grow slower than the US market (14% per year).

High Growth Earnings: OPBK's earnings are forecast to grow, but not significantly.

Revenue vs Market: OPBK's revenue (8.9% per year) is forecast to grow faster than the US market (8.4% per year).

High Growth Revenue: OPBK's revenue (8.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: OPBK's Return on Equity is forecast to be low in 3 years time (16.9%).


Discover growth companies

Past Performance

How has OP Bancorp performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


22.2%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: OPBK has a high level of non-cash earnings.

Growing Profit Margin: OPBK's current net profit margins (38.1%) are higher than last year (28%).


Past Earnings Growth Analysis

Earnings Trend: OPBK's earnings have grown significantly by 22.2% per year over the past 5 years.

Accelerating Growth: OPBK's earnings growth over the past year (114%) exceeds its 5-year average (22.2% per year).

Earnings vs Industry: OPBK earnings growth over the past year (114%) exceeded the Mortgage industry 6.7%.


Return on Equity

High ROE: OPBK's Return on Equity (19.2%) is considered low.


Discover strong past performing companies

Financial Health

How is OP Bancorp's financial position? (This company is analysed differently as a bank or financial institution)

Financial Health Score

6/6

Financial Health Score 6/6

  • Asset Level

  • Allowance for Bad Loans

  • Low Risk Liabilities

  • Loan Level

  • Low Risk Deposits

  • Level of Bad Loans

Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: OPBK's Assets to Equity ratio (11.2x) is moderate.

Allowance for Bad Loans: OPBK has a sufficient allowance for bad loans (594%).

Low Risk Liabilities: 98% of OPBK's liabilities are made up of primarily low risk sources of funding.

Loan Level: OPBK has an appropriate level of Loans to Assets ratio (76%).

Low Risk Deposits: OPBK's Loans to Deposits ratio (84%) is appropriate.

Level of Bad Loans: OPBK has an appropriate level of bad loans (0.2%).


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Dividend

What is OP Bancorp current dividend yield, its reliability and sustainability?

Dividend Score

2/6

Dividend Score 2/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


3.73%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: OPBK's dividend (3.73%) is higher than the bottom 25% of dividend payers in the US market (1.57%).

High Dividend: OPBK's dividend (3.73%) is low compared to the top 25% of dividend payers in the US market (4.24%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, OPBK has been paying a dividend for less than 10 years.

Growing Dividend: OPBK's dividend payments have increased, but the company has only paid a dividend for 3 years.


Current Payout to Shareholders

Earnings Coverage: With its low payout ratio (17.8%), OPBK's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years or that it will be covered by earnings.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

8.7yrs

Average management tenure


CEO

Min Kim (61 yo)

12.17yrs

Tenure

US$1,731,054

Compensation

Ms. Min Jung Kim has been the Chief Executive Officer, President and Director of OP Bancorp since April 2010. She has been Chief Executive Officer, President and Director of Open Bank since April 1, 2010....


CEO Compensation Analysis

Compensation vs Market: Min's total compensation ($USD1.73M) is about average for companies of similar size in the US market ($USD1.72M).

Compensation vs Earnings: Min's compensation has increased by more than 20% in the past year.


Leadership Team

Experienced Management: OPBK's management team is seasoned and experienced (8.7 years average tenure).


Board Members

Experienced Board: OPBK's board of directors are considered experienced (6.4 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: OPBK insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

OP Bancorp's employee growth, exchange listings and data sources


Key Information

  • Name: OP Bancorp
  • Ticker: OPBK
  • Exchange: NasdaqGM
  • Founded: 2005
  • Industry: Thrifts and Mortgage Finance
  • Sector: Banks
  • Implied Market Cap: US$162.126m
  • Shares outstanding: 15.14m
  • Website: https://www.myopenbank.com

Number of Employees


Location

  • OP Bancorp
  • 1000 Wilshire Boulevard
  • Suite 500
  • Los Angeles
  • California
  • 90017
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/06/26 00:00
End of Day Share Price2022/06/24 00:00
Earnings2022/03/31
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.