Keefe, Bruyette & Woods Issues Positive Forecast for OP Bancorp (NASDAQ:OPBK) Stock Price

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

A number of other research analysts also recently issued reports on the stock. Weiss Ratings upgraded shares of OP Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, June 18th. Wall Street Zen cut shares of OP Bancorp from a “buy” rating to a “hold” rating in a research report on Sunday, May 3rd. Finally, DA Davidson reissued a “buy” rating and set a $17.00 target price on shares of OP Bancorp in a research note on Tuesday, April 28th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $17.25.

OP Bancorp Price Performance

OP Bancorp stock opened at $15.55 on Monday. The stock’s 50 day moving average is $14.55 and its 200 day moving average is $14.12. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.02 and a quick ratio of 1.01. The firm has a market cap of $231.54 million, a P/E ratio of 8.06 and a beta of 0.60. OP Bancorp has a one year low of $12.41 and a one year high of $16.00.

OP Bancorp (NASDAQ:OPBK) last announced its earnings results on Thursday, July 23rd. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.44 by $0.09. The business had revenue of $25.72 million for the quarter, compared to analysts’ expectations of $25.15 million. OP Bancorp had a return on equity of 12.74% and a net margin of 16.87%. As a group, research analysts expect that OP Bancorp will post 1.91 EPS for the current year.

OP Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Thursday, August 6th. OP Bancorp’s payout ratio is presently 29.02%.

Hedge Funds Weigh In On OP Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of OPBK. Bank of America Corp DE grew its position in shares of OP Bancorp by 880.9% during the 4th 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. Amundi acquired a new position in shares of OP Bancorp during the 1st quarter valued at $26,000. Goldman Sachs Group Inc. lifted its position in shares of OP Bancorp by 45.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 62,824 shares of the company’s stock valued at $755,000 after acquiring an additional 19,758 shares during the period. Empowered Funds LLC boosted its stake in OP Bancorp by 3.5% during the first quarter. Empowered Funds LLC now owns 54,763 shares of the company’s stock worth $658,000 after acquiring an additional 1,834 shares in the last quarter. Finally, Jane Street Group LLC boosted its stake in OP Bancorp by 124.6% during the first quarter. Jane Street Group LLC now owns 45,394 shares of the company’s stock worth $546,000 after acquiring an additional 25,181 shares in the last quarter. 53.63% of the stock is currently owned by 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.