OP Bancorp (NASDAQ:OPBK) Downgraded by Wall Street Zen to Hold

Wall Street Zen lowered shares of OP Bancorp (NASDAQ:OPBK) from a buy rating to a hold rating in a research note issued to investors on Sunday.

OPBK has been the subject of a number of other reports. DA Davidson reissued a “buy” rating and issued a $17.00 price target on shares of OP Bancorp in a research report on Tuesday, April 28th. Weiss Ratings raised OP Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, April 10th. Finally, Zacks Research raised OP Bancorp from a “strong sell” rating to a “hold” rating in a research report on Friday, March 27th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, OP Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.50.

OP Bancorp Stock Performance

NASDAQ OPBK opened at $14.67 on Friday. The firm has a market capitalization of $218.44 million, a P/E ratio of 8.06 and a beta of 0.62. The business has a fifty day simple moving average of $13.61 and a 200 day simple moving average of $13.80. OP Bancorp has a 12 month low of $11.52 and a 12 month high of $15.27. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44.

OP Bancorp (NASDAQ:OPBK) last released its quarterly earnings results on Thursday, April 23rd. The company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.07. The business had revenue of $24.56 million during the quarter, compared to analyst estimates of $25.37 million. OP Bancorp had a return on equity of 12.36% and a net margin of 16.12%. On average, analysts predict that OP Bancorp will post 1.9 EPS for the current fiscal year.

OP Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 21st. Shareholders of record on Thursday, May 7th will be paid a $0.14 dividend. This is a boost from OP Bancorp’s previous quarterly dividend of $0.12. The ex-dividend date is Thursday, May 7th. This represents a $0.56 dividend on an annualized basis and a yield of 3.8%. OP Bancorp’s dividend payout ratio is currently 26.37%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Amundi bought a new position in OP Bancorp in the 1st quarter valued at $26,000. BNP Paribas Financial Markets grew its stake in OP Bancorp by 96.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,492 shares of the company’s stock valued at $35,000 after purchasing an additional 1,225 shares during the period. JPMorgan Chase & Co. grew its stake in OP Bancorp by 6,423.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,675 shares of the company’s stock valued at $74,000 after purchasing an additional 5,588 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in OP Bancorp in the 2nd quarter valued at $84,000. Finally, Bank of America Corp DE grew its stake in OP Bancorp by 880.9% in the 4th quarter. Bank of America Corp DE now owns 5,758 shares of the company’s stock valued at $91,000 after purchasing an additional 5,171 shares during the period. Institutional investors own 53.63% of the company’s stock.

About OP Bancorp

OP Bancorp is the bank holding company for Old Point National Bank, a community-focused financial institution headquartered in Suffolk, Virginia. Through its subsidiary, the company offers a broad range of commercial and consumer banking services designed to meet the needs of businesses, professionals and individuals across the Hampton Roads and Virginia Peninsula regions. Core services include business lending, real estate financing, deposit accounts, cash management solutions and treasury services.

The company’s lending portfolio spans commercial real estate loans, construction and land development financing, equipment loans and lines of credit tailored for small and medium-sized enterprises.