OP Bancorp (NASDAQ:OPBK) Upgraded at Wall Street Zen
by Amy Steele · The Cerbat GemWall Street Zen upgraded shares of OP Bancorp (NASDAQ:OPBK – Free Report) from a hold rating to a buy rating in a report published on Saturday morning.
Several other equities analysts also recently commented on OPBK. Weiss Ratings upgraded OP Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, April 10th. Zacks Research upgraded 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 given a Hold rating to the company’s stock. According to data from MarketBeat, OP Bancorp has a consensus rating of “Moderate Buy” and an average price target of $16.50.
View Our Latest Stock Analysis on OPBK
OP Bancorp Trading Down 0.1%
Shares of OPBK stock opened at $14.33 on Friday. OP Bancorp has a 12 month low of $11.52 and a 12 month 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 business’s 50 day moving average is $13.58 and its two-hundred day moving average is $13.77. The company has a market cap of $213.37 million, a PE ratio of 7.87 and a beta of 0.62.
OP Bancorp (NASDAQ:OPBK – Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.41 by $0.07. OP Bancorp had a return on equity of 12.36% and a net margin of 16.12%.The company had revenue of $24.56 million for the quarter, compared to the consensus estimate of $25.37 million. Equities analysts predict that OP Bancorp will post 1.84 EPS for the current year.
OP Bancorp Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 21st. Stockholders of record on Thursday, May 7th will be given a $0.14 dividend. This is a positive change from OP Bancorp’s previous quarterly dividend of $0.12. This represents a $0.56 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Thursday, May 7th. OP Bancorp’s dividend payout ratio (DPR) is currently 26.37%.
Institutional Investors Weigh In On OP Bancorp
Several hedge funds have recently modified their holdings of OPBK. Bank of America Corp DE boosted its position in shares of OP Bancorp by 880.9% in the fourth quarter. Bank of America Corp DE now owns 5,758 shares of the company’s stock valued at $91,000 after acquiring an additional 5,171 shares during the period. Amundi bought a new stake in shares of OP Bancorp in the first quarter valued at approximately $26,000. Goldman Sachs Group Inc. boosted its position in shares of OP Bancorp by 45.9% in the first quarter. Goldman Sachs Group Inc. now owns 62,824 shares of the company’s stock valued at $755,000 after acquiring an additional 19,758 shares during the period. Empowered Funds LLC boosted its position in shares of OP Bancorp by 3.5% in the first quarter. Empowered Funds LLC now owns 54,763 shares of the company’s stock valued at $658,000 after acquiring an additional 1,834 shares during the period. Finally, Jane Street Group LLC boosted its position in shares of OP Bancorp by 124.6% in the first quarter. Jane Street Group LLC now owns 45,394 shares of the company’s stock valued at $546,000 after acquiring an additional 25,181 shares during the period. 53.63% of the stock is owned by institutional investors.
About OP Bancorp
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.