OP Bancorp (NASDAQ:OPBK) Price Target Raised to $17.50

OP Bancorp (NASDAQ:OPBK) had its price target increased by Keefe, Bruyette & Woods from $17.00 to $17.50 in a report issued on Monday morning,Benzinga reports. The brokerage currently has a market perform rating on the stock.

Several other equities analysts have also issued reports on OPBK. Weiss Ratings upgraded shares of OP Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, June 18th. DA Davidson reiterated a “buy” rating and set a $17.00 price target on shares of OP Bancorp in a report on Tuesday, April 28th. Finally, Wall Street Zen lowered OP Bancorp from a “buy” rating to a “hold” rating in a research report on Sunday, May 3rd. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $17.75.

OP Bancorp Stock Performance

Shares of OPBK stock opened at $15.75 on Monday. The stock has a market capitalization of $234.52 million, a PE ratio of 8.16 and a beta of 0.60. The business’s 50 day simple moving average is $14.63 and its 200 day simple moving average is $14.14. The company has a debt-to-equity ratio of 0.43, 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 $16.80.

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%. As a group, research analysts forecast that OP Bancorp will post 2.06 earnings per share for the current year.

OP Bancorp Dividend Announcement

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

Institutional Trading of OP Bancorp

Several large investors have recently made changes to their positions in OPBK. Diversify Wealth Management LLC acquired a new position in OP Bancorp during the 1st quarter worth approximately $26,511,000. Dimensional Fund Advisors LP increased its holdings in shares of OP Bancorp by 4.4% during the first quarter. Dimensional Fund Advisors LP now owns 636,128 shares of the company’s stock valued at $8,461,000 after acquiring an additional 26,618 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of OP Bancorp by 118.3% during the second quarter. Geode Capital Management LLC now owns 273,701 shares of the company’s stock valued at $3,556,000 after acquiring an additional 148,299 shares in the last quarter. Maltese Capital Management LLC raised its position in shares of OP Bancorp by 11.0% during the fourth quarter. Maltese Capital Management LLC now owns 268,867 shares of the company’s stock worth $3,796,000 after purchasing an additional 26,700 shares during the period. Finally, Bridgeway Capital Management LLC raised its position in shares of OP Bancorp by 1.2% during the fourth quarter. Bridgeway Capital Management LLC now owns 209,040 shares of the company’s stock worth $2,952,000 after purchasing an additional 2,462 shares during the period. 53.63% of the stock is currently owned by institutional investors and hedge funds.

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.