OP Bancorp (NASDAQ:OPBK) Downgraded by Zacks Research to “Hold”

OP Bancorp (NASDAQ:OPBK) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

OPBK has been the subject of several other reports. Keefe, Bruyette & Woods increased their price target on shares of OP Bancorp from $15.50 to $16.00 and gave the stock a “market perform” rating in a research note on Monday, October 27th. Weiss Ratings restated a “hold (c+)” rating on shares of OP Bancorp in a report on Monday. Finally, DA Davidson raised their target price on shares of OP Bancorp from $16.50 to $17.00 and gave the company a “buy” rating in a research note on Tuesday, October 28th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $16.50.

OP Bancorp Trading Up 0.3%

OPBK opened at $14.23 on Monday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.34. OP Bancorp has a 52 week low of $10.43 and a 52 week high of $16.07. The stock has a market cap of $211.83 million, a PE ratio of 9.06 and a beta of 0.69. The business has a 50 day moving average of $13.73 and a 200-day moving average of $13.63.

OP Bancorp (NASDAQ:OPBK) last issued its quarterly earnings results on Thursday, October 23rd. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.01. The company had revenue of $24.48 million for the quarter, compared to analysts’ expectations of $24.25 million. OP Bancorp had a return on equity of 11.09% and a net margin of 14.42%. Equities research analysts predict that OP Bancorp will post 1.9 earnings per share for the current fiscal year.

Institutional Trading of OP Bancorp

Institutional investors and hedge funds have recently modified their holdings of the business. Diversify Advisory Services LLC raised its stake in OP Bancorp by 145.4% during the 3rd 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. Acadian Asset Management LLC grew its holdings in OP Bancorp by 7.5% during the 2nd quarter. Acadian Asset Management LLC now owns 291,491 shares of the company’s stock valued at $3,782,000 after buying an additional 20,379 shares in the last quarter. Geode Capital Management LLC raised its position in shares of OP Bancorp by 118.3% during the second quarter. Geode Capital Management LLC now owns 273,701 shares of the company’s stock valued at $3,556,000 after buying an additional 148,299 shares during the last quarter. Fourthstone LLC raised its position in shares of OP Bancorp by 128.3% during 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 during the last quarter. Finally, Gator Capital Management LLC lifted its holdings in shares of OP Bancorp by 0.8% in the third quarter. Gator Capital Management LLC now owns 256,433 shares of the company’s stock worth $3,570,000 after buying an additional 2,160 shares in the last quarter. Institutional investors own 53.63% of the company’s stock.

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.