OP Bancorp’s (OPBK) “Buy” Rating Reiterated at DA Davidson

DA Davidson reissued their buy rating on shares of OP Bancorp (NASDAQ:OPBK) in a report published on Tuesday morning,Benzinga reports. The brokerage currently has a $18.00 price objective on the stock.

Other equities analysts have also issued reports about the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of OP Bancorp in a report on Monday, September 14th. Wall Street Zen lowered OP Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Keefe, Bruyette & Woods raised their price objective on OP Bancorp from $17.00 to $17.50 and gave the stock a “market perform” rating in a research report on Monday, July 27th. Finally, Zacks Research cut OP Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 28th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, OP Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $17.75.

OP Bancorp Stock Up 1.0%

NASDAQ:OPBK opened at $15.44 on Tuesday. OP Bancorp has a fifty-two week low of $12.41 and a fifty-two week high of $16.83. The stock has a market capitalization of $230.52 million, a P/E ratio of 7.64 and a beta of 0.62. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.01 and a current ratio of 1.02. The company’s 50-day simple moving average is $15.14 and its 200-day simple moving average is $14.50.

OP Bancorp (NASDAQ:OPBK) last posted its quarterly earnings data on Thursday, October 22nd. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.50 by $0.02. OP Bancorp had a net margin of 17.09% and a return on equity of 12.89%. The firm had revenue of $27.50 million during the quarter, compared to analyst estimates of $26.50 million. On average, equities analysts anticipate that OP Bancorp will post 2.06 earnings per share for the current fiscal year.

OP Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Thursday, November 5th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Thursday, November 5th. OP Bancorp’s payout ratio is presently 28.00%.

Hedge Funds Weigh In On OP Bancorp

Several hedge funds have recently made changes to their positions in OPBK. BlackRock Inc. purchased a new position in shares of OP Bancorp in the second quarter worth about $14,995,000. Man Group plc purchased a new stake in OP Bancorp in the second quarter valued at approximately $1,439,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in OP Bancorp in the second quarter valued at approximately $2,346,000. Diversify Advisory Services LLC purchased a new stake in OP Bancorp in the second quarter valued at approximately $28,733,000. Finally, Bank of New York Mellon Corp acquired a new position in OP Bancorp in the 2nd quarter worth approximately $1,004,000. 53.63% of the stock is owned by institutional investors and hedge funds.

OP Bancorp Company Profile

OP Bancorp is the bank holding company for Open Bank, a community-focused financial institution headquartered in Los Angeles, California. Founded in 2005, Open Bank primarily serves small and middle-market businesses, entrepreneurs, professionals and individuals, with a particular focus on Korean American and other Asian American communities.

Open Bank offers a range of banking products and services, including business and personal checking and savings accounts, certificates of deposit, commercial and residential real estate loans, commercial and industrial lending, small business loans and consumer financing.