OP Bancorp (NASDAQ:OPBK) Stock Rating Reaffirmed as Buy by DA Davidson

OP Bancorp (NASDAQ:OPBK)‘s stock had its “buy” rating restated by analysts at DA Davidson in a note issued to investors on Tuesday, Benzinga reports. They currently have a $18.00 price objective on the stock. DA Davidson‘s price target would indicate a potential upside of 19.95% from the company’s previous close.

Several other equities analysts have also recently issued reports on OPBK. Wall Street Zen cut OP Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of OP Bancorp in a report on Monday, September 14th. Zacks Research cut OP Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, September 28th. 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. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, OP Bancorp has an average rating of “Moderate Buy” and an average price target of $17.75.

OP Bancorp Stock Performance

Shares of NASDAQ:OPBK traded down $0.02 during midday trading on Tuesday, reaching $15.01. The company’s stock had a trading volume of 1,798 shares, compared to its average volume of 41,673. OP Bancorp has a fifty-two week low of $12.41 and a fifty-two week high of $16.83. The business’s fifty day simple moving average is $15.14 and its 200-day simple moving average is $14.49.

OP Bancorp (NASDAQ:OPBK) last announced its earnings results on Thursday, October 22nd. The company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.02. The business had revenue of $27.50 million during the quarter, compared to analyst estimates of $26.50 million. On average, equities research analysts predict that OP Bancorp will post 2.07 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. BlackRock Inc. acquired a new position in OP Bancorp in the 2nd quarter valued at $14,995,000. Man Group plc acquired a new stake in OP Bancorp in the second quarter valued at about $1,439,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in OP Bancorp in the second quarter valued at about $2,346,000. Diversify Advisory Services LLC acquired a new stake in OP Bancorp in the second quarter valued at about $28,733,000. Finally, Bank of New York Mellon Corp bought a new position in OP Bancorp in the second quarter valued at about $1,004,000. 53.63% of the stock is owned by institutional investors and hedge funds.

About OP Bancorp

OP Bancorp is the bank holding company for Open Bank, a community-focused financial institution headquartered in Los Angeles, California. Founded in 2005, Open Bank primarily serves small and middle-market businesses, entrepreneurs, professionals and individuals, with a particular focus on Korean American and other Asian American communities.

Open Bank offers a range of banking products and services, including business and personal checking and savings accounts, certificates of deposit, commercial and residential real estate loans, commercial and industrial lending, small business loans and consumer financing.