OP Bancorp’s (OPBK) Buy Rating Reiterated at DA Davidson

OP Bancorp (NASDAQ:OPBK)‘s stock had its “buy” rating reaffirmed by analysts at DA Davidson in a research report issued on Tuesday, Benzinga reports. They presently have a $18.00 price objective on the stock. DA Davidson‘s price objective points to a potential upside of 19.76% from the company’s current price.

A number of other equities research analysts also recently issued reports on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of OP Bancorp in a research report on Monday, September 14th. Zacks Research cut shares of OP Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, September 28th. Wall Street Zen cut shares of OP Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Finally, Keefe, Bruyette & Woods upped their price target on shares of OP Bancorp from $17.00 to $17.50 and gave the stock a “market perform” rating in a research note on Monday, July 27th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.75.

OP Bancorp Stock Up 0.2%

Shares of NASDAQ OPBK traded up $0.03 during mid-day trading on Tuesday, reaching $15.03. The company had a trading volume of 37,393 shares, compared to its average volume of 41,864. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.01 and a current ratio of 1.02. The company has a market capitalization of $224.44 million, a price-to-earnings ratio of 7.51 and a beta of 0.62. The stock has a fifty day moving average of $15.15 and a two-hundred day moving average of $14.48. OP Bancorp has a 12-month low of $12.41 and a 12-month high of $16.83.

OP Bancorp (NASDAQ:OPBK) last announced its quarterly earnings data on Thursday, October 22nd. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.02. OP Bancorp had a net margin of 17.09% and a return on equity of 12.89%. The firm had revenue of $27.50 million for the quarter, compared to the consensus estimate of $26.50 million. As a group, equities research analysts expect that OP Bancorp will post 2.07 EPS for the current year.

Institutional Investors Weigh In On OP Bancorp

Several large investors have recently made changes to their positions in OPBK. Hsbc Holdings PLC bought a new position in OP Bancorp during the second quarter valued at approximately $319,000. Empowered Funds LLC acquired a new stake in OP Bancorp in the second quarter valued at approximately $1,008,000. Public Employees Retirement System of Ohio bought a new stake in OP Bancorp in the second quarter worth approximately $107,000. Bank of America Corp DE bought a new stake in OP Bancorp in the second quarter worth approximately $153,000. Finally, Man Group plc bought a new stake in OP Bancorp in the second quarter worth approximately $1,439,000. Institutional investors own 53.63% of the company’s stock.

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.