OP Bancorp (NASDAQ:OPBK – Get Free Report) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday, Zacks reports.
Other equities analysts have also recently issued research reports about the company. Weiss Ratings reiterated a “buy (b)” rating on shares of OP Bancorp in a research note on Monday, September 14th. Wall Street Zen cut shares of OP Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Keefe, Bruyette & Woods increased their target price on OP Bancorp from $17.00 to $17.50 and gave the company a “market perform” rating in a report on Monday, July 27th. Finally, DA Davidson upped their price objective on OP Bancorp from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, OP Bancorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.75.
Read Our Latest Analysis on OPBK
OP Bancorp Trading Down 0.1%
OP Bancorp (NASDAQ:OPBK – Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.09. OP Bancorp had a net margin of 16.87% and a return on equity of 12.59%. The business had revenue of $25.72 million for the quarter, compared to analysts’ expectations of $25.15 million. On average, equities analysts forecast that OP Bancorp will post 2.06 earnings per share for the current year.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of OPBK. Public Employees Retirement System of Ohio purchased a new position in shares of OP Bancorp during the second quarter worth about $107,000. Bank of America Corp DE acquired a new position in shares of OP Bancorp in the second quarter valued at approximately $153,000. Deutsche Bank AG purchased a new stake in shares of OP Bancorp during the second quarter worth approximately $178,000. Lazard Asset Management LLC purchased a new position in OP Bancorp in the 1st quarter valued at $180,000. Finally, Hsbc Holdings PLC purchased a new position in OP Bancorp in the 2nd quarter valued at $319,000. 53.63% of the stock is currently owned by institutional investors and hedge funds.
OP Bancorp Company Profile
OP Bancorp is the bank holding company for Open Bank, a community bank headquartered in Los Angeles, California. Open Bank primarily serves small and medium-sized businesses, professionals and individuals, with a focus on the Korean American and broader multicultural communities.
The bank offers commercial and consumer deposit accounts, business and personal checking and savings products, certificates of deposit, and treasury management services. Its lending activities include commercial real estate loans, commercial and industrial loans, small business loans, residential mortgage loans and consumer financing.
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