OP Bancorp (NASDAQ:OPBK) to Issue $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 paid 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 3.29%. The ex-dividend date is Thursday, November 7th.

OP Bancorp has increased its dividend payment by an average of 19.7% annually over the last three years. OP Bancorp has a payout ratio of 32.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect OP Bancorp to earn $1.48 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 32.4%.

OP Bancorp Stock Up 0.1 %

NASDAQ OPBK opened at $14.57 on Wednesday. OP Bancorp has a 52 week low of $8.36 and a 52 week high of $15.21. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.59. The business’s fifty day simple moving average is $12.94 and its 200-day simple moving average is $11.34. The firm has a market cap of $217.38 million, a PE ratio of 10.41 and a beta of 0.60.

OP Bancorp (NASDAQ:OPBK) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.33 by $0.03. OP Bancorp had a return on equity of 10.94% and a net margin of 14.18%. The business had revenue of $39.54 million for the quarter. As a group, equities analysts anticipate that OP Bancorp will post 1.46 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Ki Won Yoon sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $12.18, for a total transaction of $60,900.00. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 21.34% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $13.00 price objective 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.