OP Bancorp (NASDAQ:OPBK) Rating Increased to Buy at Wall Street Zen

Key Points

• OP Bancorp was upgraded to “Buy” by Wall Street Zen, following additional positive ratings from Zacks Research and DA Davidson. MarketBeat reports a consensus “Buy” rating with an average price target of $17.75.
• The company beat quarterly expectations, reporting $0.53 in earnings per share versus the $0.44 consensus estimate and revenue of $25.72 million versus $25.15 million expected.
• OPBK shares opened at $15.60, while institutional investors own 53.63% of the company. The stock has traded between $12.41 and $16.80 over the past year.

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

A number of other analysts have also commented on the company. Zacks Research raised OP Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Wednesday. DA Davidson upped their price objective on OP Bancorp from $17.00 to $18.00 and gave the company a "buy" rating in a research note on Tuesday. Weiss Ratings upgraded shares of OP Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, June 18th. Finally, Keefe, Bruyette & Woods raised 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. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, OP Bancorp currently has a consensus rating of "Buy" and an average price target of $17.75.

OP Bancorp Stock Down 1.0%

Shares of OPBK opened at $15.60 on Friday. OP Bancorp has a 52 week low of $12.41 and a 52 week high of $16.80. The stock has a market capitalization of $232.28 million, a price-to-earnings ratio of 8.08 and a beta of 0.60. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.01 and a current ratio of 1.02. The stock has a fifty day moving average of $14.70 and a 200-day moving average of $14.16.

OP Bancorp (NASDAQ:OPBK - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The company reported $0.53 earnings per share for the quarter, topping analysts' consensus estimates 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, sell-side analysts anticipate that OP Bancorp will post 2.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On OP Bancorp

Institutional investors have recently made changes to their positions in the stock. Amundi acquired a new stake in shares of OP Bancorp in the first quarter valued at about $26,000. BNP Paribas Financial Markets lifted its stake in shares of OP Bancorp by 96.7% in the third quarter. BNP Paribas Financial Markets now owns 2,492 shares of the company's stock worth $35,000 after acquiring an additional 1,225 shares during the period. JPMorgan Chase & Co. boosted its holdings in OP Bancorp by 6,423.0% in the second quarter. JPMorgan Chase & Co. now owns 5,675 shares of the company's stock valued at $74,000 after acquiring an additional 5,588 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in OP Bancorp in the second quarter valued at approximately $84,000. Finally, Bank of America Corp DE increased its position in OP Bancorp by 880.9% during the 4th quarter. Bank of America Corp DE now owns 5,758 shares of the company's stock valued at $91,000 after purchasing an additional 5,171 shares during the period. 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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