OneSpan (NASDAQ:OSPN) Shares Gap Up After Dividend Announcement

OneSpan Inc. (NASDAQ:OSPN)’s share price gapped up before the market opened on Friday after the company announced a dividend. The stock had previously closed at $14.66, but opened at $15.97. OneSpan shares last traded at $14.89, with a volume of 89,890 shares changing hands.

The newly announced dividend which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be given a $0.12 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $0.48 annualized dividend and a dividend yield of 3.19%. OneSpan’s dividend payout ratio (DPR) is presently 32.65%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. StockNews.com downgraded shares of OneSpan from a “buy” rating to a “hold” rating in a research note on Friday, March 28th. Rosenblatt Securities restated a “buy” rating and set a $20.00 price objective on shares of OneSpan in a research report on Friday.

OneSpan Stock Up 2.7 %

The stock’s 50 day moving average price is $15.32 and its two-hundred day moving average price is $17.12. The firm has a market capitalization of $575.36 million, a price-to-earnings ratio of 20.34 and a beta of 1.21.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. R Squared Ltd bought a new stake in shares of OneSpan in the 4th quarter valued at approximately $37,000. New York State Teachers Retirement System acquired a new position in shares of OneSpan during the 4th quarter worth $64,000. Copeland Capital Management LLC bought a new position in shares of OneSpan during the 1st quarter valued at $64,000. Steward Partners Investment Advisory LLC bought a new position in shares of OneSpan during the 4th quarter valued at $109,000. Finally, State of Tennessee Department of Treasury acquired a new position in OneSpan during the fourth quarter worth $147,000. 95.52% of the stock is owned by institutional investors and hedge funds.

OneSpan Company Profile

OneSpan Inc, together with its subsidiaries, designs, develops, and markets digital solutions for identity, authentication, and secure digital agreements worldwide. The company offers OneSpan Sign, a range of e-signature requirements for occasional agreement to processing tens of thousands of transactions; OneSpan Cloud Authentication, a cloud-based multifactor authentication solution that supports a range of authentication options, including biometrics, push notification, and visual cryptograms for transaction data security, SMS, and hardware authenticators; and OneSpan Identity Verification, which enables banks and financial institutions identity verification services.