OP Bancorp (NASDAQ:OPBK) Stock Rating Raised to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of OP Bancorp (NASDAQ:OPBK) from a hold rating to a buy rating in a report issued on Saturday morning,Wall Street Zen reports.

A number of other research analysts have also weighed in on the stock. 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 research note on Monday, July 27th. Zacks Research downgraded OP Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 28th. DA Davidson restated a “buy” rating and issued a $18.00 target price on shares of OP Bancorp in a report on Tuesday, October 27th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of OP Bancorp in a research report on Monday, September 14th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, OP Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $17.75.

OP Bancorp Trading Up 0.1%

Shares of NASDAQ:OPBK traded up $0.01 during mid-day trading on Friday, hitting $14.97. The company had a trading volume of 30,687 shares, compared to its average volume of 30,580. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.03 and a quick ratio of 1.01. OP Bancorp has a one year low of $12.41 and a one year high of $16.83. The firm has a fifty day moving average price of $15.10 and a 200 day moving average price of $14.54. The company has a market capitalization of $223.50 million, a PE ratio of 7.49 and a beta of 0.61.

OP Bancorp (NASDAQ:OPBK) last issued its earnings results on Thursday, October 22nd. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.50 by $0.02. OP Bancorp had a return on equity of 12.79% and a net margin of 17.09%. The company had revenue of $27.50 million during the quarter, compared to the consensus estimate of $26.50 million. As a group, research analysts forecast that OP Bancorp will post 2.06 EPS for the current year.

OP Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Thursday, November 5th will be given a $0.14 dividend. The ex-dividend date of this dividend is Thursday, November 5th. This represents a $0.56 annualized dividend and a yield of 3.7%. OP Bancorp’s payout ratio is currently 28.00%.

Institutional Trading of OP Bancorp

A number of large investors have recently bought and sold shares of the company. Marshall Wace LLP raised its stake in OP Bancorp by 2.8% in the 3rd quarter. Marshall Wace LLP now owns 88,985 shares of the company’s stock valued at $1,335,000 after acquiring an additional 2,452 shares during the period. Empowered Funds LLC increased its stake in shares of OP Bancorp by 33.3% in the third quarter. Empowered Funds LLC now owns 89,655 shares of the company’s stock worth $1,345,000 after purchasing an additional 22,401 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of OP Bancorp by 19.7% in the third quarter. Russell Investments Group Ltd. now owns 57,070 shares of the company’s stock valued at $857,000 after purchasing an additional 9,404 shares during the period. Hsbc Holdings PLC bought a new stake in shares of OP Bancorp in the second quarter valued at approximately $319,000. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of OP Bancorp in the second quarter valued at approximately $107,000. 53.63% of the stock is owned by hedge funds and other institutional investors.

About OP Bancorp

OP Bancorp is the bank holding company for Open Bank, a full-service commercial bank headquartered in Los Angeles. The bank provides deposit accounts, commercial and small-business lending, and other banking services to businesses and individuals. Open Bank has historically focused on serving Korean-American customers as well as other small and midsize businesses, professionals, and individuals. Its operations include markets in California and other U.S. regions, including Texas and Georgia.