OP Bancorp (NASDAQ:OPBK) Stock Rating Upgraded by Wall Street Zen

OP Bancorp (NASDAQ:OPBK) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

OPBK has been the topic of several other research reports. DA Davidson lifted their price objective on shares of OP Bancorp from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Zacks Research upgraded shares of OP Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 29th. Keefe, Bruyette & Woods raised 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 research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $17.75.

OP Bancorp Price Performance

NASDAQ:OPBK opened at $15.60 on Friday. The business’s 50-day simple moving average is $14.70 and its two-hundred day simple moving average is $14.16. OP Bancorp has a 52 week low of $12.41 and a 52 week high of $16.80. The stock has a market cap of $232.35 million, a PE ratio of 8.08 and a beta of 0.60. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.43.

OP Bancorp (NASDAQ:OPBK) last released its 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. OP Bancorp had a return on equity of 12.74% and a net margin of 16.87%.The firm had revenue of $25.72 million during the quarter, compared to analysts’ expectations of $25.15 million. As a group, analysts forecast that OP Bancorp will post 2.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Diversify Wealth Management LLC purchased a new position in OP Bancorp during the first quarter worth $26,511,000. Geode Capital Management LLC raised its stake in shares of OP Bancorp by 118.3% in 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 during the period. Marshall Wace LLP lifted its holdings in shares of OP Bancorp by 960.2% in the 2nd 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 during the last quarter. Two Sigma Investments LP purchased a new position in shares of OP Bancorp during the 3rd quarter worth about $715,000. Finally, First Trust Advisors LP purchased a new position in shares of OP Bancorp during the 3rd quarter worth about $499,000. Institutional investors own 53.63% of the company’s stock.

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.