Keefe, Bruyette & Woods Raises OP Bancorp (NASDAQ:OPBK) Price Target to $15.50

Key Points

• Keefe, Bruyette & Woods has raised the price target for OP Bancorp from $15.00 to $15.50, suggesting a potential upside of 14.01% from its current price.
• OP Bancorp's stock is currently trading at $13.60 after a 1.3% increase, with a market capitalization of $201.87 million.
• Institutional investors hold 53.63% of OP Bancorp's shares, reflecting strong interest, with notable increases in ownership by firms such as Bank of America and Amundi.

OP Bancorp (NASDAQ:OPBK - Free Report) had its price target increased by Keefe, Bruyette & Woods from $15.00 to $15.50 in a research report report published on Monday,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.

OP Bancorp Trading Down 1.0%

OPBK stock traded down $0.13 during mid-day trading on Monday, hitting $12.80. 49,961 shares of the company were exchanged, compared to its average volume of 63,219. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $190.07 million, a P/E ratio of 8.65 and a beta of 0.65. The business has a fifty day simple moving average of $12.85 and a 200-day simple moving average of $12.93. OP Bancorp has a 12-month low of $10.43 and a 12-month high of $18.57.

OP Bancorp (NASDAQ:OPBK - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The company reported $0.42 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.42. OP Bancorp had a net margin of 13.91% and a return on equity of 10.81%. The company had revenue of $23.69 million during the quarter, compared to the consensus estimate of $22.85 million. On average, equities research analysts predict that OP Bancorp will post 1.9 earnings per share for the current fiscal year.

OP Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, August 7th will be paid a $0.12 dividend. The ex-dividend date is Thursday, August 7th. This represents a $0.48 dividend on an annualized basis and a yield of 3.8%. OP Bancorp's payout ratio is currently 32.43%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Amundi acquired a new stake in OP Bancorp during the first quarter worth approximately $26,000. Cubist Systematic Strategies LLC acquired a new stake in OP Bancorp during the fourth quarter worth approximately $68,000. Bank of America Corp DE raised its holdings in OP Bancorp by 880.9% during the fourth quarter. Bank of America Corp DE now owns 5,758 shares of the company's stock worth $91,000 after purchasing an additional 5,171 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in OP Bancorp during the second quarter worth approximately $92,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in OP Bancorp during the fourth quarter worth approximately $95,000. Hedge funds and other institutional investors own 53.63% of the company's stock.

About OP Bancorp

OP Bancorp operates as the bank holding company for Open Bank that provides banking products and services in California. It offers demand, checking, savings, money market, and time deposit accounts, as well as certificates of deposit. The company also provides commercial real estate, small business administration, commercial and industrial business, single-family residential, term, consumer, and home mortgage loans; trade financing products; and letters of credit, and SWIFT and export advice.