OP Bancorp (NASDAQ:OPBK) Declares $0.12 Quarterly Dividend

OP Bancorp (NASDAQ:OPBK) declared a quarterly dividend on Thursday, October 24th, Zacks reports. Shareholders of record on Thursday, November 7th will be given a dividend of 0.12 per share on Thursday, November 21st. This represents a $0.48 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend is Thursday, November 7th.

OP Bancorp has raised its dividend by an average of 19.7% annually over the last three years. OP Bancorp has a dividend payout ratio of 32.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect OP Bancorp to earn $1.47 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 32.7%.

OP Bancorp Stock Up 2.3 %

Shares of OP Bancorp stock traded up $0.32 during trading on Friday, reaching $14.15. The stock had a trading volume of 38,936 shares, compared to its average volume of 27,510. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $211.12 million, a price-to-earnings ratio of 10.11 and a beta of 0.63. OP Bancorp has a 52 week low of $8.30 and a 52 week high of $14.38. The stock has a fifty day moving average price of $12.64 and a two-hundred day moving average price of $11.04.

OP Bancorp (NASDAQ:OPBK) last released its quarterly earnings results on Thursday, October 24th. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. OP Bancorp had a return on equity of 10.92% and a net margin of 14.52%. The firm had revenue of $39.54 million during the quarter. Sell-side analysts predict that OP Bancorp will post 1.38 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Ki Won Yoon sold 5,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $12.18, for a total value of $60,900.00. Following the completion of the transaction, the insider now directly owns 47,137 shares of the company’s stock, valued at approximately $574,128.66. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 21.34% of the company’s stock.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $13.00 price target on shares of OP Bancorp in a research report on Monday, August 26th.

OP Bancorp Company Profile

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.