Op Bancorp (OTCMKTS:OPBK) Upgraded at Zacks Investment Research

Share on StockTwits

Zacks Investment Research upgraded shares of Op Bancorp (OTCMKTS:OPBK) from a hold rating to a buy rating in a research report report published on Saturday, Zacks.com reports. Zacks Investment Research currently has $11.00 price objective on the stock.

According to Zacks, “OP Bancorp provides commercial banking services to retail and institutional customers. It offer commercial lending, home loans, online banking, cash management, certificate of deposits, wire transfers and debit and credit cards services. The company operates primarily in Seattle, Washington, Dallas, Texas and Atlanta, Georgia. OP Bancorp is headquartered in Los Angeles, California. “

A number of other research firms have also recently issued reports on OPBK. DA Davidson reiterated a buy rating on shares of OP Bancorp in a research note on Monday, April 29th. TheStreet cut shares of Tribune Publishing from a c- rating to a d+ rating in a research note on Monday, May 20th.

OPBK stock opened at $9.77 on Friday. Op Bancorp has a twelve month low of $8.07 and a twelve month high of $13.50. The business’s 50-day moving average price is $9.83.

Op Bancorp (OTCMKTS:OPBK) last released its earnings results on Friday, April 26th. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.08. The firm had revenue of $14.38 million for the quarter, compared to analyst estimates of $12.80 million.

In other Op Bancorp news, CFO Christine Yoon Oh sold 5,000 shares of Op Bancorp stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $9.50, for a total transaction of $47,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Soo Hun Jung sold 20,000 shares of Op Bancorp stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $10.51, for a total transaction of $210,200.00. The disclosure for this sale can be found here.

Several hedge funds have recently made changes to their positions in the company. Pacific Ridge Capital Partners LLC grew its holdings in shares of Op Bancorp by 19.6% in the 1st quarter. Pacific Ridge Capital Partners LLC now owns 281,414 shares of the company’s stock valued at $2,462,000 after buying an additional 46,178 shares during the period. Context BH Capital Management LP grew its holdings in shares of Op Bancorp by 57.4% in the 1st quarter. Context BH Capital Management LP now owns 511,948 shares of the company’s stock valued at $4,480,000 after buying an additional 186,753 shares during the period. O Shaughnessy Asset Management LLC grew its holdings in shares of Op Bancorp by 14.4% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 10,281 shares of the company’s stock valued at $89,000 after buying an additional 1,292 shares during the period. Acadian Asset Management LLC grew its holdings in shares of Op Bancorp by 61.2% in the 1st quarter. Acadian Asset Management LLC now owns 79,605 shares of the company’s stock valued at $697,000 after buying an additional 30,209 shares during the period. Finally, Strs Ohio grew its holdings in shares of Op Bancorp by 366.7% in the 1st quarter. Strs Ohio now owns 16,800 shares of the company’s stock valued at $147,000 after buying an additional 13,200 shares during the period.

Op Bancorp Company Profile

OP Bancorp operates as the bank holding company for Open Bank that provides banking products and services in California. It generates certificates of deposit, installment accounts, money market accounts, retirement accounts, demand and time deposits, and savings accounts, as well as various personal and business checking accounts.

Further Reading: Why are analyst ratings important in trading stocks?

Get a free copy of the Zacks research report on Op Bancorp (OPBK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Op Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Op Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.