OP Bancorp (NASDAQ:OPBK) Price Target Cut to $18.00 by Analysts at Keefe, Bruyette & Woods

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

OP Bancorp Price Performance

OPBK stock opened at $13.02 on Monday. The stock has a 50-day moving average price of $16.27 and a two-hundred day moving average price of $14.06. OP Bancorp has a 12-month low of $8.91 and a 12-month high of $18.57. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37. The company has a market cap of $192.83 million, a PE ratio of 9.30 and a beta of 0.66.

OP Bancorp (NASDAQ:OPBK) last posted its quarterly earnings results on Thursday, January 23rd. The company reported $0.33 earnings per share (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%. As a group, research analysts predict that OP Bancorp will post 1.46 EPS for the current year.

OP Bancorp Announces Dividend

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

Institutional Investors Weigh In On OP Bancorp

Several institutional investors and hedge funds have recently modified their holdings of OPBK. Dimensional Fund Advisors LP boosted its position in shares of OP Bancorp by 8.0% in the second quarter. Dimensional Fund Advisors LP now owns 476,934 shares of the company’s stock worth $4,573,000 after buying an additional 35,288 shares during the period. Renaissance Technologies LLC boosted its position in shares of OP Bancorp by 40.1% in the second quarter. Renaissance Technologies LLC now owns 112,060 shares of the company’s stock worth $1,075,000 after buying an additional 32,060 shares during the period. Ritholtz Wealth Management boosted its position in shares of OP Bancorp by 49.7% in the third quarter. Ritholtz Wealth Management now owns 35,948 shares of the company’s stock worth $449,000 after buying an additional 11,934 shares during the period. Empowered Funds LLC boosted its position in shares of OP Bancorp by 5.3% in the third quarter. Empowered Funds LLC now owns 50,314 shares of the company’s stock worth $628,000 after buying an additional 2,546 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of OP Bancorp by 18.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 61,467 shares of the company’s stock worth $767,000 after buying an additional 9,447 shares during the period. Hedge funds and other institutional investors own 53.63% of the company’s stock.

OP Bancorp Company Profile

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.