Keefe, Bruyette & Woods Cuts OP Bancorp (NASDAQ:OPBK) Price Target to $18.00

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

OP Bancorp Price Performance

OP Bancorp stock opened at $13.54 on Monday. The stock has a market cap of $200.55 million, a P/E ratio of 9.67 and a beta of 0.66. The company has a fifty day simple moving average of $16.09 and a 200-day simple moving average of $14.09. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37. OP Bancorp has a 12-month low of $8.91 and a 12-month high of $18.57.

OP Bancorp (NASDAQ:OPBK) last released 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 return on equity of 10.81% and a net margin of 14.18%. Equities analysts expect that OP Bancorp will post 1.46 EPS for the current fiscal year.

OP Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Thursday, February 6th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Thursday, February 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.55%. OP Bancorp’s dividend payout ratio (DPR) is presently 34.53%.

Hedge Funds Weigh In On OP Bancorp

Hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake in OP Bancorp by 8.0% in the 2nd 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 last quarter. Geode Capital Management LLC increased its position in OP Bancorp by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 118,203 shares of the company’s stock worth $1,476,000 after purchasing an additional 2,948 shares in the last quarter. Fourthstone LLC acquired a new position in OP Bancorp during the third quarter valued at approximately $1,448,000. Renaissance Technologies LLC increased 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 acquiring an additional 32,060 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake 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 valued at $767,000 after acquiring an additional 9,447 shares during the period. 53.63% of the stock is owned by hedge funds and other institutional investors.

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.