OP Bancorp (NASDAQ:OPBK) Lowered to "Hold" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded OP Bancorp from “Buy” to “Hold,” though the overall analyst consensus remains “Buy” with a $17.75 price target.
• OP Bancorp reported quarterly earnings of $0.53 per share, exceeding the $0.44 consensus estimate, while revenue of $25.72 million also topped expectations.
• Institutional ownership stands at 53.63%, with several large investors—including Manufacturers Life Insurance and Diversify Advisory Services—establishing new positions during the second quarter.

OP Bancorp (NASDAQ:OPBK - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Saturday.

Several other equities research analysts also recently commented on the stock. DA Davidson upped their price objective on shares of OP Bancorp from $17.00 to $18.00 and gave the company a "buy" rating in a report on Tuesday, July 28th. Keefe, Bruyette & Woods lifted their target price on shares of OP Bancorp from $17.00 to $17.50 and gave the stock a "market perform" rating in a research note on Monday, July 27th. Zacks Research raised shares of OP Bancorp from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 29th. Finally, Weiss Ratings upgraded shares of OP Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $17.75.

OP Bancorp Stock Down 0.7%

Shares of NASDAQ OPBK opened at $15.63 on Friday. OP Bancorp has a one year low of $12.41 and a one year high of $16.83. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.02 and a quick ratio of 1.01. The business's fifty day moving average price is $15.03 and its 200-day moving average price is $14.25. The stock has a market capitalization of $233.40 million, a PE ratio of 8.10 and a beta of 0.59.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC purchased a new position in OP Bancorp during the 2nd quarter valued at about $319,000. Ancora Advisors LLC bought a new position in shares of OP Bancorp in the second quarter valued at approximately $481,000. The Manufacturers Life Insurance Company purchased a new position in OP Bancorp during the second quarter valued at approximately $8,416,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in OP Bancorp during the 2nd quarter worth approximately $2,346,000. Finally, Diversify Advisory Services LLC bought a new stake in OP Bancorp during the 2nd quarter worth approximately $28,733,000. Institutional investors own 53.63% of the company's stock.

OP Bancorp Company Profile

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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