Weiss Ratings Reiterates Buy (B-) Rating for OP Bancorp (NASDAQ:OPBK)

Key Points

• Weiss Ratings has reaffirmed a "buy (B-)" rating for OP Bancorp (NASDAQ:OPBK), indicating confidence in the company's performance.
• Despite Weiss Ratings' positive outlook, Zacks Research has downgraded OP Bancorp from "strong-buy" to "hold," suggesting mixed opinions among analysts.
• OP Bancorp's stock opened at $13.72 and has a consensus price target of $15.50, reflecting cautious optimism in the company's future earnings potential.

OP Bancorp (NASDAQ:OPBK - Get Free Report)'s stock had its "buy (b-)" rating reiterated by Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Other analysts have also issued research reports about the stock. Zacks Research lowered shares of OP Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 22nd. Keefe, Bruyette & Woods lifted their price target on shares of OP Bancorp from $15.00 to $15.50 and gave the stock a "market perform" rating in a research note on Monday, July 28th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, OP Bancorp presently has a consensus rating of "Hold" and a consensus price target of $15.50.

OP Bancorp Price Performance

Shares of OP Bancorp stock opened at $13.72 on Wednesday. The company has a 50-day simple moving average of $13.92 and a two-hundred day simple moving average of $12.98. The stock has a market capitalization of $204.29 million, a price-to-earnings ratio of 9.27 and a beta of 0.70. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.23. OP Bancorp has a twelve month low of $10.43 and a twelve month high of $18.57.

OP Bancorp (NASDAQ:OPBK - Get Free Report) last posted its earnings results on Thursday, July 24th. The company reported $0.42 earnings per share for the quarter, hitting analysts' consensus estimates of $0.42. The firm had revenue of $23.69 million for the quarter, compared to analyst estimates of $22.85 million. OP Bancorp had a net margin of 13.91% and a return on equity of 10.72%. Analysts forecast that OP Bancorp will post 1.9 EPS for the current year.

Hedge Funds Weigh In On OP Bancorp

Several institutional investors have recently made changes to their positions in the company. Man Group plc purchased a new position in shares of OP Bancorp during the second quarter valued at $339,000. Engineers Gate Manager LP purchased a new stake in shares of OP Bancorp during the second quarter worth about $150,000. Ameriprise Financial Inc. purchased a new stake in shares of OP Bancorp during the second quarter worth about $361,000. Raymond James Financial Inc. lifted its holdings in shares of OP Bancorp by 13.8% during the second quarter. Raymond James Financial Inc. now owns 111,898 shares of the company's stock worth $1,454,000 after purchasing an additional 13,583 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of OP Bancorp during the second quarter worth about $84,000. 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.

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