OP Bancorp (NASDAQ:OPBK) Cut to “Hold” at Wall Street Zen

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

A number of other equities research analysts have also issued reports on the company. Zacks Research raised OP Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 29th. DA Davidson upped their price objective on OP Bancorp from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Keefe, Bruyette & Woods boosted their target price on shares of OP Bancorp from $17.00 to $17.50 and gave the company a “market perform” rating in a research note on Monday, July 27th. Finally, Weiss Ratings upgraded shares of OP Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $17.75.

OP Bancorp Price Performance

OP Bancorp stock opened at $15.53 on Friday. The firm has a market capitalization of $231.91 million, a PE ratio of 8.05 and a beta of 0.59. OP Bancorp has a 12-month low of $12.41 and a 12-month high of $16.83. The firm has a 50-day moving average price of $15.06 and a 200-day moving average price of $14.27. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.42.

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 business had revenue of $25.72 million during the quarter, compared to the consensus estimate of $25.15 million. OP Bancorp had a net margin of 16.87% and a return on equity of 12.59%. As a group, equities research analysts forecast that OP Bancorp will post 2.06 EPS for the current year.

OP Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th will be issued a dividend of $0.14 per share. 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 (DPR) is presently 29.02%.

Institutional Investors Weigh In On OP Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of OPBK. Amundi purchased a new stake in shares of OP Bancorp in the 1st quarter worth $26,000. BNP Paribas Financial Markets increased its stake in shares of OP Bancorp by 96.7% during the third quarter. BNP Paribas Financial Markets now owns 2,492 shares of the company’s stock valued at $35,000 after buying an additional 1,225 shares during the period. JPMorgan Chase & Co. increased its stake in shares of OP Bancorp by 6,423.0% during the second quarter. JPMorgan Chase & Co. now owns 5,675 shares of the company’s stock valued at $74,000 after buying an additional 5,588 shares during the period. Bank of America Corp DE increased its stake in shares of OP Bancorp by 880.9% during the fourth quarter. Bank of America Corp DE now owns 5,758 shares of the company’s stock valued at $91,000 after buying an additional 5,171 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of OP Bancorp in the second quarter valued at about $84,000. 53.63% of the stock is owned by institutional investors.

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.