OP Bancorp (NASDAQ:OPBK) Rating Lowered to Hold at Wall Street Zen

OP Bancorp (NASDAQ:OPBK) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

A number of other analysts have also issued reports on OPBK. Zacks Research raised OP Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 29th. DA Davidson upped their price objective on shares of OP Bancorp from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Keefe, Bruyette & Woods boosted their target price on shares of OP Bancorp from $17.00 to $17.50 and gave the company a “market perform” rating in a report on Monday, July 27th. Finally, Weiss Ratings raised shares of OP Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $17.75.

OP Bancorp Price Performance

Shares of NASDAQ:OPBK opened at $15.63 on Friday. The business’s 50 day simple moving average is $15.03 and its 200-day simple moving average is $14.25. The firm has a market capitalization of $233.36 million, a price-to-earnings ratio of 8.10 and a beta of 0.59. OP Bancorp has a 12 month low of $12.41 and a 12 month high of $16.83. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.02 and a quick ratio of 1.01.

OP Bancorp (NASDAQ:OPBK) last posted its earnings results on Thursday, July 23rd. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.09. The company had revenue of $25.72 million for the quarter, compared to the consensus estimate of $25.15 million. OP Bancorp had a return on equity of 12.59% and a net margin of 16.87%. As a group, equities analysts forecast that OP Bancorp will post 2.06 earnings per share for the current fiscal year.

Institutional Trading of OP Bancorp

Several large investors have recently modified their holdings of the business. Man Group plc acquired a new stake in shares of OP Bancorp during the second quarter worth approximately $1,439,000. Hsbc Holdings PLC bought a new position in OP Bancorp during the 2nd quarter valued at $319,000. Ancora Advisors LLC acquired a new position in OP Bancorp during the 2nd quarter worth $481,000. The Manufacturers Life Insurance Company acquired a new position in OP Bancorp during the 2nd quarter worth $8,416,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of OP Bancorp in the 2nd quarter worth about $2,346,000. 53.63% of the stock is currently owned by institutional investors and hedge funds.

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.