OP Bancorp (NASDAQ:OPBK) Given New $18.00 Price Target at Keefe, Bruyette & Woods

OP Bancorp (NASDAQ:OPBK) had its price target dropped by investment analysts at Keefe, Bruyette & Woods from $19.00 to $18.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 29.36% from the stock’s current price.

OP Bancorp Price Performance

NASDAQ:OPBK opened at $13.92 on Monday. 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’s 50-day simple moving average is $16.27 and its 200 day simple moving average is $14.06. The company has a market cap of $206.08 million, a P/E ratio of 9.94 and a beta of 0.66. OP Bancorp has a 52-week low of $8.91 and a 52-week high of $18.57.

OP Bancorp (NASDAQ:OPBK) last released its 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, sell-side analysts forecast that OP Bancorp will post 1.46 EPS for the current fiscal year.

Hedge Funds Weigh In On OP Bancorp

A number of institutional investors have recently bought and sold shares of OPBK. Barclays PLC acquired a new position in OP Bancorp during the third quarter worth approximately $58,000. Ritholtz Wealth Management increased its position in OP Bancorp by 49.7% during 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 last quarter. Empowered Funds LLC increased its position in OP Bancorp by 5.3% during 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 last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in OP Bancorp by 18.2% during 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 last quarter. Finally, Renaissance Technologies LLC increased its position in OP Bancorp by 40.1% during 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 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.