OP Bancorp (NASDAQ:OPBK) Given "Buy" Rating at DA Davidson

Key Points

• DA Davidson reiterated a “Buy” rating on OP Bancorp and set an $18.00 price target, implying approximately 19.76% upside from the prior close.
• Analyst sentiment is moderately positive overall, with two Buy ratings and two Hold ratings and an average price target of $17.75.
• OP Bancorp exceeded quarterly expectations, reporting $0.52 in EPS versus the $0.50 consensus and revenue of $27.5 million versus $26.5 million expected.

OP Bancorp (NASDAQ:OPBK - Get Free Report)'s stock had its "buy" rating restated by stock analysts at DA Davidson in a research note issued to investors on Tuesday, Benzinga reports. They presently have a $18.00 price target on the stock. DA Davidson's price objective points to a potential upside of 19.76% from the company's previous close.

A number of other equities research analysts also recently issued reports on OPBK. Zacks Research downgraded shares of OP Bancorp from a "strong-buy" rating to a "hold" rating in a report on Monday, September 28th. Keefe, Bruyette & Woods boosted their target price on OP Bancorp from $17.00 to $17.50 and gave the stock a "market perform" rating in a research report on Monday, July 27th. Wall Street Zen cut OP Bancorp from a "buy" rating to a "hold" rating in a research report on Saturday, August 15th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of OP Bancorp in a research report on Monday, September 14th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $17.75.

OP Bancorp Price Performance

Shares of OP Bancorp stock 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. OP Bancorp has a 1 year low of $12.41 and a 1 year high of $16.83. The company has a market cap of $224.44 million, a P/E ratio of 7.52 and a beta of 0.62. 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 business's 50 day moving average is $15.15 and its two-hundred day moving average is $14.48.

OP Bancorp (NASDAQ:OPBK - Get Free Report) last announced its quarterly earnings results on Thursday, October 22nd. The company reported $0.52 earnings per share (EPS) for the quarter, topping 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, research analysts anticipate that OP Bancorp will post 2.07 EPS for the current year.

Institutional Trading of OP Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of OPBK. Empowered Funds LLC increased its stake in shares of OP Bancorp by 9.3% during the first quarter. Empowered Funds LLC now owns 62,639 shares of the company's stock valued at $833,000 after buying an additional 5,349 shares during the period. Public Employees Retirement System of Ohio purchased a new position in shares of OP Bancorp during the second quarter valued at approximately $107,000. Bank of America Corp DE purchased a new position in shares of OP Bancorp during the second quarter valued at approximately $153,000. Deutsche Bank AG purchased a new position in shares of OP Bancorp during the second quarter valued at approximately $178,000. Finally, Lazard Asset Management LLC purchased a new stake in OP Bancorp in the first quarter worth about $180,000. 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.