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

Zacks Research downgraded shares of OP Bancorp (NASDAQ:OPBK) from a strong-buy rating to a hold rating in a research note issued to investors on Monday morning,Zacks reports.

Other equities research analysts have also recently issued reports about the company. Weiss Ratings reiterated a “buy (b)” rating on shares of OP Bancorp in a research note on Monday, September 14th. Keefe, Bruyette & Woods increased their price target on shares of OP Bancorp from $17.00 to $17.50 and gave the company a “market perform” rating in a research report on Monday, July 27th. Wall Street Zen downgraded shares of OP Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Finally, DA Davidson lifted their price objective on shares of OP Bancorp from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $17.75.

OP Bancorp Stock Performance

Shares of OPBK opened at $15.19 on Monday. The stock has a 50 day moving average of $15.40 and a 200 day moving average of $14.59. The company has a market capitalization of $226.83 million, a price-to-earnings ratio of 7.87 and a beta of 0.60. OP Bancorp has a 12 month low of $12.41 and a 12 month high of $16.83. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.42.

OP Bancorp (NASDAQ:OPBK) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $0.53 earnings per share for the quarter, topping 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 12.59% and a net margin of 16.87%. As a group, sell-side analysts forecast that OP Bancorp will post 2.06 earnings per share for the current year.

OP Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, August 6th. This represents a $0.56 annualized dividend and a yield of 3.7%. OP Bancorp’s dividend payout ratio is 29.02%.

Hedge Funds Weigh In On OP Bancorp

Several large investors have recently modified their holdings of the business. Hsbc Holdings PLC bought a new stake in shares of OP Bancorp in the second quarter valued at approximately $319,000. Empowered Funds LLC purchased a new stake in shares of OP Bancorp during the 2nd quarter valued at approximately $1,008,000. Public Employees Retirement System of Ohio bought a new position in OP Bancorp in the 2nd quarter worth approximately $107,000. Bank of America Corp DE bought a new position in OP Bancorp in the 2nd quarter worth approximately $153,000. Finally, Man Group plc purchased a new position in OP Bancorp in the 2nd quarter valued at approximately $1,439,000. Hedge funds and other institutional investors own 53.63% of the company’s stock.

OP Bancorp Company Profile

OP Bancorp is the bank holding company for Open Bank, a community bank headquartered in Los Angeles, California. Open Bank primarily serves small and medium-sized businesses, professionals and individuals, with a focus on the Korean American and broader multicultural communities.

The bank offers commercial and consumer deposit accounts, business and personal checking and savings products, certificates of deposit, and treasury management services. Its lending activities include commercial real estate loans, commercial and industrial loans, small business loans, residential mortgage loans and consumer financing.