Wall Street Zen Upgrades OP Bancorp (NASDAQ:OPBK) to Buy

Key Points

• Wall Street Zen upgraded OP Bancorp from “hold” to “buy.” Overall, analysts rate the stock “Moderate Buy,” with an average price target of $17.75.
• OP Bancorp reported quarterly EPS of $0.52, beating the $0.50 consensus estimate, and revenue of $27.5 million, above the $26.5 million estimate.
• Shares opened at $14.97; OP Bancorp has a market capitalization of $223.5 million, and institutional investors and hedge funds own 53.63% of its stock.

OP Bancorp (NASDAQ:OPBK - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday, Wall Street Zen reports.

OPBK has been the topic of several other reports. DA Davidson restated a "buy" rating and set a $18.00 price target on shares of OP Bancorp in a report on Tuesday, October 27th. Weiss Ratings reiterated a "buy (b)" rating on shares of OP Bancorp in a report on Monday, September 14th. Keefe, Bruyette & Woods lifted their price objective on OP Bancorp from $17.00 to $17.50 and gave the company a "market perform" rating in a research report on Monday, July 27th. Finally, Zacks Research downgraded OP Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 28th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $17.75.

OP Bancorp Stock Performance

Shares of OPBK opened at $14.97 on Friday. The company's 50 day moving average price is $15.10 and its 200 day moving average price is $14.54. OP Bancorp has a 52 week low of $12.41 and a 52 week high of $16.83. The company has a market capitalization of $223.50 million, a PE ratio of 7.48 and a beta of 0.61. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.01 and a current ratio of 1.03.

OP Bancorp (NASDAQ:OPBK - Get Free Report) last released its 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. The company had revenue of $27.50 million during the quarter, compared to the consensus estimate of $26.50 million. OP Bancorp had a net margin of 17.09% and a return on equity of 12.79%. Research analysts expect that OP Bancorp will post 2.06 EPS for the current fiscal year.

Institutional Trading of OP Bancorp

A number of institutional investors have recently added to or reduced their stakes in the business. Marshall Wace LLP grew its holdings in OP Bancorp by 2.8% during the third quarter. Marshall Wace LLP now owns 88,985 shares of the company's stock valued at $1,335,000 after purchasing an additional 2,452 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of OP Bancorp by 9.3% in the first quarter. Empowered Funds LLC now owns 62,639 shares of the company's stock worth $833,000 after buying an additional 5,349 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of OP Bancorp in the second quarter worth $107,000. Russell Investments Group Ltd. lifted its stake in shares of OP Bancorp by 19.7% in the third quarter. Russell Investments Group Ltd. now owns 57,070 shares of the company's stock worth $857,000 after buying an additional 9,404 shares during the last quarter. Finally, Bank of America Corp DE bought a new stake in shares of OP Bancorp during the 2nd quarter worth $153,000. 53.63% of the stock is currently owned by institutional investors and hedge funds.

OP Bancorp Company Profile

OP Bancorp is the bank holding company for Open Bank, a full-service commercial bank headquartered in Los Angeles. The bank provides deposit accounts, commercial and small-business lending, and other banking services to businesses and individuals. Open Bank has historically focused on serving Korean-American customers as well as other small and midsize businesses, professionals, and individuals. Its operations include markets in California and other U.S. regions, including Texas and Georgia.

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