OP Bancorp (NASDAQ:OPBK) Cut to Strong Sell at Zacks Research

Zacks Research cut shares of OP Bancorp (NASDAQ:OPBK) from a hold rating to a strong sell rating in a report issued on Tuesday,Zacks.com reports.

Several other research firms also recently weighed in on OPBK. DA Davidson increased their price objective on OP Bancorp from $16.50 to $17.00 and gave the company a “buy” rating in a report on Tuesday, October 28th. Keefe, Bruyette & Woods upped 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 report on Monday, October 27th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of OP Bancorp in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, OP Bancorp presently has an average rating of “Hold” and an average target price of $16.50.

OP Bancorp Stock Performance

Shares of OPBK stock opened at $13.86 on Tuesday. The stock’s 50-day moving average is $14.17 and its two-hundred day moving average is $13.83. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.01 and a current ratio of 1.01. OP Bancorp has a 1 year low of $10.43 and a 1 year high of $15.27. The firm has a market cap of $206.38 million, a price-to-earnings ratio of 8.11 and a beta of 0.68.

OP Bancorp (NASDAQ:OPBK) last posted its earnings results on Thursday, January 22nd. The company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.05). The firm had revenue of $24.28 million during the quarter, compared to analysts’ expectations of $24.85 million. OP Bancorp had a net margin of 15.39% and a return on equity of 11.93%. Analysts predict that OP Bancorp will post 1.9 earnings per share for the current year.

OP Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 19th. Shareholders of record on Thursday, February 5th will be given a dividend of $0.12 per share. The ex-dividend date is Thursday, February 5th. This represents a $0.48 dividend on an annualized basis and a yield of 3.5%. OP Bancorp’s dividend payout ratio is presently 28.07%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Diversify Advisory Services LLC lifted its position in OP Bancorp by 145.4% in the third quarter. Diversify Advisory Services LLC now owns 1,840,941 shares of the company’s stock valued at $24,595,000 after purchasing an additional 1,090,687 shares during the period. Geode Capital Management LLC raised its stake in shares of OP Bancorp by 118.3% during the 2nd quarter. Geode Capital Management LLC now owns 273,701 shares of the company’s stock worth $3,556,000 after buying an additional 148,299 shares in the last quarter. Fourthstone LLC boosted its stake in shares of OP Bancorp by 128.3% in the second quarter. Fourthstone LLC now owns 263,790 shares of the company’s stock valued at $3,427,000 after buying an additional 148,238 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new position in OP Bancorp during the third quarter worth $1,864,000. Finally, Marshall Wace LLP raised its position in OP Bancorp by 960.2% in the second quarter. Marshall Wace LLP now owns 140,591 shares of the company’s stock worth $1,826,000 after acquiring an additional 127,330 shares in the last quarter. 53.63% of the stock is owned by hedge funds and other institutional investors.

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.