OP Bancorp (NASDAQ:OPBK) Upgraded by Zacks Research to “Strong-Buy” Rating

Zacks Research upgraded shares of OP Bancorp (NASDAQ:OPBK) from a hold rating to a strong-buy rating in a research note published on Wednesday morning,Zacks.com reports.

OPBK has been the topic of several other research reports. Wall Street Zen downgraded OP Bancorp from a “buy” rating to a “hold” rating in a report on Sunday, May 3rd. DA Davidson lifted 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. Keefe, Bruyette & Woods boosted their target price on OP Bancorp from $17.00 to $17.50 and gave the stock a “market perform” rating in a research report on Monday. Finally, Weiss Ratings raised OP Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $17.75.

OP Bancorp Trading Up 0.1%

Shares of NASDAQ OPBK opened at $15.76 on Wednesday. OP Bancorp has a 1-year low of $12.41 and a 1-year high of $16.80. The company has a market cap of $234.73 million, a PE ratio of 8.17 and a beta of 0.60. 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 50-day moving average of $14.67 and a two-hundred day moving average of $14.15.

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

OP Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 6th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 3.6%. The ex-dividend date is Thursday, August 6th. OP Bancorp’s dividend payout ratio is currently 29.02%.

Institutional Trading of OP Bancorp

A number of institutional investors have recently bought and sold shares of OPBK. Amundi bought a new stake in shares of OP Bancorp during the 1st quarter valued at $26,000. BNP Paribas Financial Markets boosted its position in shares of OP Bancorp by 96.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,492 shares of the company’s stock worth $35,000 after purchasing an additional 1,225 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of OP Bancorp by 6,423.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,675 shares of the company’s stock worth $74,000 after purchasing an additional 5,588 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of OP Bancorp during the second quarter worth $84,000. Finally, Bank of America Corp DE increased its holdings in OP Bancorp by 880.9% in the fourth 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 last quarter. Institutional investors and hedge funds own 53.63% of the company’s stock.

OP Bancorp Company Profile

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.