OP Bancorp (NASDAQ:OPBK) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen cut shares of OP Bancorp (NASDAQ:OPBK) from a buy rating to a hold rating in a research note issued to investors on Saturday.

OPBK has been the topic of several other research reports. DA Davidson lifted their price target 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 OP Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 29th. Weiss Ratings raised OP Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, June 18th. Finally, Keefe, Bruyette & Woods lifted their target price on OP Bancorp from $17.00 to $17.50 and gave the company a “market perform” rating in a research report on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $17.75.

OP Bancorp Trading Down 0.7%

Shares of OPBK stock opened at $15.63 on Friday. The company’s 50-day moving average price is $15.03 and its 200-day moving average price is $14.25. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.42. The stock has a market cap of $233.36 million, a price-to-earnings ratio of 8.10 and a beta of 0.59. OP Bancorp has a twelve month low of $12.41 and a twelve month high of $16.83.

OP Bancorp (NASDAQ:OPBK) last released 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 firm had revenue of $25.72 million during the quarter, compared to analysts’ expectations 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 analysts predict that OP Bancorp will post 2.06 earnings per share for the current year.

OP Bancorp Announces Dividend

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

Institutional Trading of OP Bancorp

Several institutional investors have recently added to or reduced their stakes in the stock. Diversify Advisory Services LLC acquired a new position in OP Bancorp during the second quarter worth $28,733,000. Diversify Wealth Management LLC acquired a new stake in shares of OP Bancorp in the first quarter valued at $26,511,000. BlackRock Inc. purchased a new stake in shares of OP Bancorp in the 2nd quarter valued at $14,995,000. The Manufacturers Life Insurance Company purchased a new stake in shares of OP Bancorp in the 2nd quarter valued at $8,416,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in OP Bancorp during the 2nd quarter worth about $2,346,000. Institutional investors and hedge funds 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.