DA Davidson Reaffirms “Buy” Rating for OP Bancorp (NASDAQ:OPBK)

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

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

OP Bancorp Price Performance

OPBK traded up $0.03 on Tuesday, reaching $15.03. The stock had a trading volume of 37,393 shares, compared to its average volume of 41,868. 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 company has a market capitalization of $224.44 million, a price-to-earnings ratio of 7.52 and a beta of 0.62. OP Bancorp has a fifty-two week low of $12.41 and a fifty-two week high of $16.83. The firm has a 50-day moving average of $15.14 and a 200-day moving average of $14.49.

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

Institutional Trading of OP Bancorp

Institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio bought a new position in OP Bancorp during the 2nd quarter valued at approximately $107,000. Bank of America Corp DE bought a new stake in shares of OP Bancorp in the 2nd quarter worth approximately $153,000. Deutsche Bank AG bought a new stake in shares of OP Bancorp in the 2nd quarter worth approximately $178,000. Lazard Asset Management LLC bought a new stake in shares of OP Bancorp in the 1st quarter worth approximately $180,000. Finally, Hsbc Holdings PLC purchased a new position in shares of OP Bancorp during the second quarter valued at approximately $319,000. Hedge funds and other 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.