OP Bancorp's (OPBK) "Buy" Rating Reaffirmed at DA Davidson

Key Points

• DA Davidson reaffirmed its Buy rating on OP Bancorp with a $17.00 target (about a 17.65% upside), while MarketBeat's consensus is a Moderate Buy with a $16.50 target.
• OP Bancorp reported Q1 EPS of $0.48, beating estimates by $0.07, though revenue of $24.56 million slightly missed expectations.
• Shares trade near $14.45 (market cap ~$215M, P/E 7.94) and institutional investors own about 53.63% of the stock, with several firms recently increasing or initiating positions.

OP Bancorp (NASDAQ:OPBK - Get Free Report)'s stock had its "buy" rating reaffirmed by research analysts at DA Davidson in a research report issued on Tuesday,Benzinga reports. They presently have a $17.00 target price on the stock. DA Davidson's price target would suggest a potential upside of 17.65% from the company's previous close.

OPBK has been the subject of a number of other research reports. Weiss Ratings upgraded OP Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, April 10th. Wall Street Zen upgraded OP Bancorp from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, Zacks Research raised shares of OP Bancorp from a "strong sell" rating to a "hold" rating in a report on Friday, March 27th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, OP Bancorp currently has a consensus rating of "Moderate Buy" and a consensus target price of $16.50.

OP Bancorp Price Performance

OPBK stock traded up $0.12 during trading on Tuesday, reaching $14.45. The company's stock had a trading volume of 14,545 shares, compared to its average volume of 36,195. OP Bancorp has a 1 year low of $11.52 and a 1 year high of $15.27. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $215.16 million, a P/E ratio of 7.94 and a beta of 0.62. The company's fifty day moving average is $13.58 and its 200-day moving average is $13.77.

OP Bancorp (NASDAQ:OPBK - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $0.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.41 by $0.07. OP Bancorp had a return on equity of 12.36% and a net margin of 16.12%.The business had revenue of $24.56 million during the quarter, compared to analyst estimates of $25.37 million. On average, research analysts expect that OP Bancorp will post 1.84 earnings per share for the current fiscal year.

Institutional Trading of OP Bancorp

Large investors have recently modified their holdings of the company. Diversify Advisory Services LLC lifted its stake in OP Bancorp by 145.4% in the third quarter. Diversify Advisory Services LLC now owns 1,840,941 shares of the company's stock worth $24,595,000 after acquiring an additional 1,090,687 shares during the period. Geode Capital Management LLC lifted its stake in OP Bancorp by 118.3% in the second quarter. Geode Capital Management LLC now owns 273,701 shares of the company's stock worth $3,556,000 after acquiring an additional 148,299 shares during the period. Segall Bryant & Hamill LLC purchased a new stake in OP Bancorp in the third quarter worth about $1,864,000. Marshall Wace LLP lifted its holdings in OP Bancorp by 960.2% during the second quarter. Marshall Wace LLP now owns 140,591 shares of the company's stock worth $1,826,000 after buying an additional 127,330 shares during the period. Finally, Two Sigma Investments LP purchased a new stake in OP Bancorp during the third quarter worth $715,000. Hedge funds and other 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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