Zacks Research Downgrades OP Bancorp (NASDAQ:OPBK) to Hold

OP Bancorp (NASDAQ:OPBK) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday, Zacks reports.

OPBK has been the topic of several other research reports. Wall Street Zen cut OP Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Weiss Ratings reissued a “buy (b)” rating on shares of OP Bancorp in a research note on Monday, September 14th. DA Davidson increased their target price on OP Bancorp from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Finally, Keefe, Bruyette & Woods raised their price target on OP Bancorp from $17.00 to $17.50 and gave the company a “market perform” rating in a research report on Monday, July 27th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, OP Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $17.75.

OP Bancorp Stock Down 0.1%

Shares of NASDAQ:OPBK opened at $15.19 on Monday. The firm has a fifty day moving average price of $15.40 and a two-hundred day moving average price of $14.59. The company has a market cap of $226.83 million, a price-to-earnings ratio of 7.87 and a beta of 0.60. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.02 and a quick ratio of 1.01. OP Bancorp has a one year low of $12.41 and a one year high of $16.83.

OP Bancorp (NASDAQ:OPBK) last released its quarterly earnings results on Thursday, July 23rd. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.09. OP Bancorp had a net margin of 16.87% and a return on equity of 12.59%. The firm had revenue of $25.72 million for the quarter, compared to analysts’ expectations of $25.15 million. Analysts anticipate that OP Bancorp will post 2.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. bought a new stake in OP Bancorp during the 2nd quarter valued at $14,995,000. Diversify Advisory Services LLC purchased a new position in shares of OP Bancorp in the second quarter valued at about $28,733,000. Diversify Wealth Management LLC bought a new position in shares of OP Bancorp during the first quarter valued at about $26,511,000. The Manufacturers Life Insurance Company purchased a new stake in shares of OP Bancorp during the second quarter worth about $8,416,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of OP Bancorp in the second quarter worth about $1,004,000. Institutional investors own 53.63% of the company’s stock.

OP Bancorp Company Profile

OP Bancorp is the bank holding company for Open Bank, a community bank headquartered in Los Angeles, California. Open Bank primarily serves small and medium-sized businesses, professionals and individuals, with a focus on the Korean American and broader multicultural communities.

The bank offers commercial and consumer deposit accounts, business and personal checking and savings products, certificates of deposit, and treasury management services. Its lending activities include commercial real estate loans, commercial and industrial loans, small business loans, residential mortgage loans and consumer financing.