OP Bancorp to Issue Quarterly Dividend of $0.14 (NASDAQ:OPBK)

OP Bancorp (NASDAQ:OPBK) announced a quarterly dividend on Thursday, July 23rd. Shareholders of record on Thursday, August 6th will be given a dividend of 0.14 per share on Thursday, August 20th. This represents a c) dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Thursday, August 6th.

OP Bancorp has raised its dividend by an average of 0.1%annually over the last three years. OP Bancorp has a dividend payout ratio of 30.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect OP Bancorp to earn $1.98 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 28.3%.

OP Bancorp Price Performance

Shares of NASDAQ OPBK opened at $14.79 on Friday. The firm has a market capitalization of $220.22 million, a P/E ratio of 8.13 and a beta of 0.60. The firm’s 50-day moving average price is $14.48 and its 200-day moving average price is $14.10. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.43. OP Bancorp has a 1-year low of $12.41 and a 1-year high of $15.73.

OP Bancorp (NASDAQ:OPBK) last issued its earnings results on Thursday, July 23rd. The company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.09. The business had revenue of $25.72 million during the quarter, compared to analyst estimates of $25.15 million. OP Bancorp had a return on equity of 12.20% and a net margin of 16.12%. Equities research analysts anticipate that OP Bancorp will post 1.91 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

OPBK has been the subject of several recent research reports. Wall Street Zen downgraded shares of OP Bancorp from a “buy” rating to a “hold” rating in a research report on Sunday, May 3rd. DA Davidson reissued a “buy” rating and issued a $17.00 price target on shares of OP Bancorp in a research report on Tuesday, April 28th. Weiss Ratings raised shares of OP Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, June 18th. Finally, Zacks Research upgraded shares of OP Bancorp from a “strong sell” rating to a “hold” rating in a report on Friday, March 27th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $16.50.

OP Bancorp Company Profile

OP Bancorp is the bank holding company for Old Point National Bank, a community-focused financial institution headquartered in Suffolk, Virginia. Through its subsidiary, the company offers a broad range of commercial and consumer banking services designed to meet the needs of businesses, professionals and individuals across the Hampton Roads and Virginia Peninsula regions. Core services include business lending, real estate financing, deposit accounts, cash management solutions and treasury services.

The company’s lending portfolio spans commercial real estate loans, construction and land development financing, equipment loans and lines of credit tailored for small and medium-sized enterprises.