Keefe, Bruyette & Woods Has Lowered Expectations for OP Bancorp (NASDAQ:OPBK) Stock Price

OP Bancorp (NASDAQ:OPBK) had its target price lowered by Keefe, Bruyette & Woods from $19.00 to $18.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a market perform rating on the stock.

OP Bancorp Trading Down 8.2 %

Shares of OPBK opened at $13.02 on Monday. The company has a market capitalization of $192.83 million, a P/E ratio of 9.30 and a beta of 0.66. OP Bancorp has a one year low of $8.91 and a one year high of $18.57. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a 50-day moving average price of $16.27 and a 200 day moving average price of $14.06.

OP Bancorp (NASDAQ:OPBK) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). OP Bancorp had a net margin of 14.18% and a return on equity of 10.81%. Sell-side analysts forecast that OP Bancorp will post 1.46 EPS for the current fiscal year.

OP Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.69%. The ex-dividend date of this dividend is Thursday, February 6th. OP Bancorp’s payout ratio is currently 34.29%.

Institutional Trading of OP Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the company. Barclays PLC acquired a new stake in OP Bancorp during the third quarter valued at approximately $58,000. Ritholtz Wealth Management lifted its holdings in shares of OP Bancorp by 49.7% in the 3rd quarter. Ritholtz Wealth Management now owns 35,948 shares of the company’s stock worth $449,000 after purchasing an additional 11,934 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of OP Bancorp by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 50,314 shares of the company’s stock worth $628,000 after purchasing an additional 2,546 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of OP Bancorp by 18.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 61,467 shares of the company’s stock worth $767,000 after purchasing an additional 9,447 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of OP Bancorp by 40.1% in the 2nd quarter. Renaissance Technologies LLC now owns 112,060 shares of the company’s stock worth $1,075,000 after purchasing an additional 32,060 shares during the last quarter. Institutional investors and hedge funds 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.