OP Bancorp (NASDAQ:OPBK) Stock Moved Down to Hold by Zacks Research

Key Points

• Zacks Research downgraded OP Bancorp from “strong buy” to “hold,” while the broader analyst consensus remains “Moderate Buy” with a $17.75 target price.
• OP Bancorp shares opened at $15.19, down 0.1%, with a market capitalization of approximately $226.8 million and a 52-week range of $12.41 to $16.83.
• The company exceeded quarterly expectations, reporting $0.53 in earnings per share versus the $0.44 consensus estimate and revenue of $25.72 million; institutional investors own 53.63% of its stock.

OP Bancorp (NASDAQ:OPBK - Get Free Report) was downgraded by Zacks Research from a "strong-buy" rating to a "hold" rating in a note issued to investors on Monday, Zacks reports.

Other research analysts have also issued research reports about the company. DA Davidson increased their target price on OP Bancorp from $17.00 to $18.00 and gave the company a "buy" rating in a research report on Tuesday, July 28th. Keefe, Bruyette & Woods increased their price objective 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. Wall Street Zen lowered shares of 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 analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, OP Bancorp presently has an average rating of "Moderate Buy" and a consensus target price of $17.75.

OP Bancorp Stock Down 0.1%

OPBK opened at $15.19 on Monday. The company has a fifty day moving average of $15.40 and a two-hundred day moving average of $14.59. The stock has a market capitalization of $226.83 million, a price-to-earnings ratio of 7.87 and a beta of 0.60. OP Bancorp has a fifty-two week low of $12.41 and a fifty-two week high of $16.83. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.01 and a current ratio of 1.02.

OP Bancorp (NASDAQ:OPBK - Get Free Report) last posted its earnings results on Thursday, July 23rd. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.09. OP Bancorp had a net margin of 16.87% and a return on equity of 12.59%. The business had revenue of $25.72 million for the quarter, compared to analyst estimates of $25.15 million. On average, research analysts expect that OP Bancorp will post 2.06 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of OPBK. BlackRock Inc. purchased a new stake in shares of OP Bancorp in the second quarter valued at about $14,995,000. Diversify Advisory Services LLC acquired a new position in OP Bancorp in the 2nd quarter valued at about $28,733,000. Diversify Wealth Management LLC purchased a new stake in shares of OP Bancorp in the 1st quarter valued at approximately $26,511,000. The Manufacturers Life Insurance Company purchased a new stake in shares of OP Bancorp in the 2nd quarter valued at approximately $8,416,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of OP Bancorp during the 2nd quarter worth approximately $1,004,000. Hedge funds and other institutional investors own 53.63% of the company's stock.

OP Bancorp Company Profile

OP Bancorp is the bank holding company for Open Bank, a community bank headquartered in Los Angeles, California. Open Bank primarily serves small and medium-sized businesses, professionals and individuals, with a focus on the Korean American and broader multicultural communities.

The bank offers commercial and consumer deposit accounts, business and personal checking and savings products, certificates of deposit, and treasury management services. Its lending activities include commercial real estate loans, commercial and industrial loans, small business loans, residential mortgage loans and consumer financing.

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