OP Bancorp (OTCMKTS:OPBK) Downgraded by Keefe, Bruyette & Woods to “Market Perform”

OP Bancorp (OTCMKTS:OPBKGet Rating) was downgraded by investment analysts at Keefe, Bruyette & Woods from an “outperform” rating to a “market perform” rating in a report issued on Thursday, The Fly reports.

Separately, Zacks Investment Research downgraded OP Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday.

OTCMKTS OPBK remained flat at $$12.27 during mid-day trading on Thursday. The company had a trading volume of 30,974 shares, compared to its average volume of 59,158. The stock’s fifty day moving average is $12.95 and its 200 day moving average is $13.15. OP Bancorp has a 1 year low of $9.51 and a 1 year high of $14.86.

OP Bancorp (OTCMKTS:OPBKGet Rating) last issued its quarterly earnings data on Thursday, April 28th. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.01. The business had revenue of $21.51 million for the quarter.

In other news, Director Ock Hee Kim purchased 33,200 shares of the company’s stock in a transaction on Monday, March 7th. The stock was bought at an average cost of $13.10 per share, for a total transaction of $434,920.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Copeland Capital Management LLC acquired a new stake in OP Bancorp in the 1st quarter valued at approximately $37,000. Marshall Wace LLP bought a new stake in shares of OP Bancorp during the 4th quarter worth $39,000. Royal Bank of Canada boosted its stake in shares of OP Bancorp by 314.7% during the 2nd quarter. Royal Bank of Canada now owns 3,965 shares of the company’s stock worth $40,000 after acquiring an additional 3,009 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of OP Bancorp during the 4th quarter worth $134,000. Finally, Jane Street Group LLC bought a new stake in shares of OP Bancorp during the 1st quarter worth $149,000.

OP Bancorp Company Profile (Get Rating)

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.

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