OP Bancorp (NASDAQ:OPBK) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of OP Bancorp (NASDAQ:OPBK) from a hold rating to a buy rating in a research report sent to investors on Saturday morning.

A number of other brokerages have also recently weighed in on OPBK. Keefe, Bruyette & Woods increased their target price on shares of OP Bancorp from $17.00 to $17.50 and gave the stock a “market perform” rating in a report on Monday, July 27th. DA Davidson lifted their price target on shares of OP Bancorp from $17.00 to $18.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Zacks Research raised shares of OP Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 29th. Finally, Weiss Ratings upgraded shares of OP Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, OP Bancorp currently has a consensus rating of “Buy” and a consensus price target of $17.75.

OP Bancorp Price Performance

Shares of NASDAQ OPBK opened at $15.88 on Friday. OP Bancorp has a twelve month low of $12.41 and a twelve 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 0.43. The company has a market capitalization of $236.45 million, a price-to-earnings ratio of 8.23 and a beta of 0.59. The business has a 50 day simple moving average of $14.73 and a 200-day simple moving average of $14.18.

OP Bancorp (NASDAQ:OPBK) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.09. The firm had revenue of $25.72 million for the quarter, compared to analysts’ expectations of $25.15 million. OP Bancorp had a return on equity of 12.74% and a net margin of 16.87%. As a group, equities research analysts expect that OP Bancorp will post 2.06 earnings per share for the current year.

OP Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th will be given a $0.14 dividend. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $0.56 annualized dividend and a yield of 3.5%. OP Bancorp’s dividend payout ratio (DPR) is currently 29.02%.

Institutional Investors Weigh In On OP Bancorp

A number of hedge funds have recently added to or reduced their stakes in OPBK. Amundi bought a new position in shares of OP Bancorp during the first quarter worth about $26,000. BNP Paribas Financial Markets lifted its position 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 last quarter. JPMorgan Chase & Co. lifted its position 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 last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in OP Bancorp during the 2nd quarter valued at about $84,000. Finally, Bank of America Corp DE boosted its stake in OP Bancorp by 880.9% during 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. 53.63% of the stock is currently owned by institutional investors.

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.