Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for OP Bancorp (NASDAQ:OPBK) Stock

Key Points

• Keefe, Bruyette & Woods raised OP Bancorp’s price target from $17.00 to $17.50 while maintaining a “market perform” rating, implying 14.6% upside from the prior close. Analysts’ consensus rating is “Moderate Buy,” with an average target of $17.25.
• OP Bancorp reported quarterly earnings of $0.53 per share, beating the $0.44 consensus estimate, while revenue of $25.72 million also exceeded expectations.
• The stock recently traded at $15.27, with a market capitalization of approximately $227 million; institutional investors and hedge funds own 53.63% of outstanding shares.

OP Bancorp (NASDAQ:OPBK - Get Free Report) had its target price lifted by equities research analysts at Keefe, Bruyette & Woods from $17.00 to $17.50 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a "market perform" rating on the stock. Keefe, Bruyette & Woods' target price suggests a potential upside of 14.60% from the company's previous close.

Other equities analysts have also recently issued reports about the stock. DA Davidson reiterated a "buy" rating and set a $17.00 price objective on shares of OP Bancorp in a research report on Tuesday, April 28th. Weiss Ratings raised shares of OP Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, June 18th. Finally, Wall Street Zen cut OP Bancorp from a "buy" rating to a "hold" rating in a research note on Sunday, May 3rd. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $17.25.

OP Bancorp Price Performance

Shares of OP Bancorp stock traded down $0.39 during trading on Monday, reaching $15.27. 13,778 shares of the company's stock were exchanged, compared to its average volume of 39,271. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.01 and a current ratio of 1.02. OP Bancorp has a 1-year low of $12.41 and a 1-year high of $16.00. The company has a market cap of $227.37 million, a P/E ratio of 7.91 and a beta of 0.60. The firm's 50-day moving average price is $14.52 and its 200 day moving average price is $14.11.

OP Bancorp (NASDAQ:OPBK - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.09. OP Bancorp had a return on equity of 12.74% and a net margin of 16.87%.The business had revenue of $25.72 million for the quarter, compared to analyst estimates of $25.15 million. As a group, research analysts anticipate that OP Bancorp will post 1.91 earnings per share for the current year.

Hedge Funds Weigh In On OP Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in OPBK. Diversify Wealth Management LLC acquired a new position in shares of OP Bancorp during the first quarter worth $26,511,000. Trexquant Investment LP increased its holdings in OP Bancorp by 128.5% in the fourth quarter. Trexquant Investment LP now owns 37,571 shares of the company's stock valued at $531,000 after purchasing an additional 21,129 shares during the period. Jane Street Group LLC increased its holdings in OP Bancorp by 106.2% in the fourth quarter. Jane Street Group LLC now owns 21,898 shares of the company's stock valued at $309,000 after purchasing an additional 11,279 shares during the period. NewEdge Advisors LLC raised its position in OP Bancorp by 1,702.7% during the 3rd quarter. NewEdge Advisors LLC now owns 14,422 shares of the company's stock worth $201,000 after purchasing an additional 13,622 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in OP Bancorp during the 2nd quarter worth $173,000. 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.

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