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

OP Bancorp (NASDAQ:OPBK) declared a quarterly dividend on Thursday, October 23rd. Stockholders of record on Thursday, November 6th will be given a dividend of 0.12 per share on Thursday, November 20th. This represents a c) annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Thursday, November 6th.

OP Bancorp has a dividend payout ratio of 26.5% indicating that its dividend is sufficiently covered by earnings.

OP Bancorp Price Performance

OP Bancorp stock opened at $13.39 on Friday. The company has a market cap of $199.38 million, a price-to-earnings ratio of 9.05 and a beta of 0.70. The firm’s fifty day moving average is $13.99 and its 200 day moving average is $13.10. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.23. OP Bancorp has a 52-week low of $10.43 and a 52-week high of $18.57.

OP Bancorp (NASDAQ:OPBK) last released its quarterly earnings results on Thursday, October 23rd. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. The company had revenue of $24.48 million for the quarter, compared to the consensus estimate of $24.25 million. OP Bancorp had a net margin of 13.91% and a return on equity of 10.72%. Sell-side analysts forecast that OP Bancorp will post 1.9 EPS for the current fiscal year.

Institutional Investors Weigh In On OP Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Man Group plc purchased a new stake in shares of OP Bancorp in the second quarter valued at $339,000. Engineers Gate Manager LP purchased a new position in OP Bancorp in the 2nd quarter worth about $150,000. Ameriprise Financial Inc. purchased a new position in OP Bancorp in the 2nd quarter worth about $361,000. Raymond James Financial Inc. increased its stake in OP Bancorp by 13.8% in the 2nd quarter. Raymond James Financial Inc. now owns 111,898 shares of the company’s stock worth $1,454,000 after buying an additional 13,583 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in OP Bancorp in the 2nd quarter worth about $84,000. Hedge funds and other institutional investors own 53.63% of the company’s stock.

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.