OP Bancorp (NASDAQ:OPBK) Upgraded at Zacks Research

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

Other equities analysts also recently issued research reports about the stock. DA Davidson increased their price objective on shares of OP Bancorp from $16.50 to $17.00 and gave the company a “buy” rating in a research note on Tuesday. Keefe, Bruyette & Woods raised their price target on shares of OP Bancorp from $15.50 to $16.00 and gave the company a “market perform” rating in a research note on Monday, October 27th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of OP Bancorp in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $16.50.

OP Bancorp Price Performance

Shares of NASDAQ:OPBK opened at $13.35 on Wednesday. The company has a market cap of $198.78 million, a price-to-earnings ratio of 8.50 and a beta of 0.70. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a 50 day simple moving average of $13.96 and a 200 day simple moving average of $13.22. OP Bancorp has a one year low of $10.43 and a one year high of $18.57.

OP Bancorp (NASDAQ:OPBK) last issued its quarterly earnings data on Thursday, October 23rd. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.44 by $0.01. The business had revenue of $24.48 million during the quarter, compared to the consensus estimate of $24.25 million. OP Bancorp had a net margin of 14.42% and a return on equity of 11.24%. Research analysts predict that OP Bancorp will post 1.9 earnings per share for the current fiscal year.

OP Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Thursday, November 6th will be given a dividend of $0.12 per share. The ex-dividend date is Thursday, November 6th. This represents a $0.48 annualized dividend and a dividend yield of 3.6%. OP Bancorp’s dividend payout ratio is 30.57%.

Institutional Investors Weigh In On OP Bancorp

Several large investors have recently modified their holdings of OPBK. Bank of America Corp DE increased its position 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 worth $91,000 after buying an additional 5,171 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of OP Bancorp by 2.0% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 88,928 shares of the company’s stock worth $1,069,000 after buying an additional 1,763 shares during the period. Russell Investments Group Ltd. increased its position in shares of OP Bancorp by 18.2% during the first quarter. Russell Investments Group Ltd. now owns 74,837 shares of the company’s stock worth $900,000 after buying an additional 11,547 shares during the period. Trexquant Investment LP acquired a new stake in shares of OP Bancorp during the first quarter worth $177,000. Finally, Amundi acquired a new stake in shares of OP Bancorp during the first quarter worth $26,000. 53.63% of the stock is currently owned by institutional investors and hedge funds.

OP Bancorp Company Profile

OP Bancorp operates as the bank holding company for Open Bank that provides banking products and services in California. It offers demand, checking, savings, money market, and time deposit accounts, as well as certificates of deposit. The company also provides commercial real estate, small business administration, commercial and industrial business, single-family residential, term, consumer, and home mortgage loans; trade financing products; and letters of credit, and SWIFT and export advice.