Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for OP Bancorp (NASDAQ:OPBK) Stock

OP Bancorp (NASDAQ:OPBK) had its price objective hoisted by analysts at Keefe, Bruyette & Woods from $17.00 to $17.50 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 14.60% from the stock’s previous close.

OPBK has been the subject of several other reports. Weiss Ratings upgraded shares of OP Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, June 18th. DA Davidson reaffirmed a “buy” rating and set a $17.00 price target on shares of OP Bancorp in a research report on Tuesday, April 28th. Finally, Wall Street Zen cut shares of OP Bancorp from a “buy” rating to a “hold” rating in a research report on Sunday, May 3rd. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, OP Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $17.25.

OP Bancorp Trading Down 2.5%

OPBK stock traded down $0.39 during trading on Monday, hitting $15.27. The company had a trading volume of 13,778 shares, compared to its average volume of 39,271. The stock has a market cap of $227.37 million, a PE ratio of 7.91 and a beta of 0.60. The business has a 50-day moving average of $14.52 and a 200-day moving average of $14.11. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.43. OP Bancorp has a one year low of $12.41 and a one year high of $16.00.

OP Bancorp (NASDAQ:OPBK) last released its quarterly earnings results 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 during the quarter, compared to analyst estimates of $25.15 million. OP Bancorp had a net margin of 16.87% and a return on equity of 12.74%. Research analysts predict that OP Bancorp will post 1.91 earnings per share for the current fiscal year.

Institutional Trading of OP Bancorp

Several hedge funds have recently modified their holdings of the stock. Bank of America Corp DE lifted its position in shares of 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 acquiring an additional 5,171 shares during the period. Amundi acquired a new stake in OP Bancorp in the first quarter worth $26,000. Goldman Sachs Group Inc. increased its stake in OP Bancorp by 45.9% in the first quarter. Goldman Sachs Group Inc. now owns 62,824 shares of the company’s stock valued at $755,000 after purchasing an additional 19,758 shares in the last quarter. Empowered Funds LLC increased its stake in OP Bancorp by 3.5% in the first quarter. Empowered Funds LLC now owns 54,763 shares of the company’s stock valued at $658,000 after purchasing an additional 1,834 shares in the last quarter. Finally, Jane Street Group LLC raised its holdings in shares of OP Bancorp by 124.6% during the first quarter. Jane Street Group LLC now owns 45,394 shares of the company’s stock valued at $546,000 after purchasing an additional 25,181 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.