OP Bancorp (OPBK) to Issue Quarterly Dividend of $0.12 on May 22nd

OP Bancorp (NASDAQ:OPBK) declared a quarterly dividend on Thursday, April 24th, RTT News reports. Investors of record on Thursday, May 8th will be paid a dividend of 0.12 per share on Thursday, May 22nd. This represents a $0.48 annualized dividend and a dividend yield of 3.71%. The ex-dividend date is Thursday, May 8th.

OP Bancorp has raised its dividend payment by an average of 15.7% annually over the last three years. OP Bancorp has a payout ratio of 26.7% indicating that its dividend is sufficiently covered by earnings.

OP Bancorp Stock Down 1.7 %

OPBK stock opened at $12.94 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.37. The business has a 50 day moving average of $12.02 and a 200 day moving average of $14.24. OP Bancorp has a twelve month low of $9.28 and a twelve month high of $18.57. The firm has a market cap of $192.99 million, a PE ratio of 9.31 and a beta of 0.65.

OP Bancorp (NASDAQ:OPBK) last announced its quarterly earnings results on Thursday, April 24th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.07. The company had revenue of $22.23 million for the quarter, compared to analysts’ expectations of $21.25 million. OP Bancorp had a net margin of 13.68% and a return on equity of 10.64%. On average, research analysts forecast that OP Bancorp will post 1.9 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods lowered their price target on OP Bancorp from $19.00 to $18.00 and set a “market perform” rating on the stock in a report on Monday, January 27th.

Hedge Funds Weigh In On OP Bancorp

An institutional investor recently raised its position in OP Bancorp stock. Bank of America Corp DE raised its holdings in shares of OP Bancorp (NASDAQ:OPBK) by 880.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,758 shares of the company’s stock after acquiring an additional 5,171 shares during the quarter. Bank of America Corp DE’s holdings in OP Bancorp were worth $91,000 as of its most recent SEC filing. 53.63% of the stock is currently owned by hedge funds and other institutional investors.

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.