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

OP Bancorp (NASDAQ:OPBK - Get Free Report) announced a quarterly dividend on Thursday, October 24th, Zacks reports. Stockholders 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 dividend yield of 3.39%. The ex-dividend date of this dividend is Thursday, November 7th.

OP Bancorp has raised its dividend payment by an average of 19.7% annually over the last three years. OP Bancorp has a payout ratio of 32.9% meaning 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 OPBK traded up $0.32 during mid-day trading on Friday, reaching $14.15. The company had a trading volume of 38,936 shares, compared to its average volume of 27,510. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.01 and a current ratio of 1.02. The firm has a 50-day moving average price of $12.64 and a 200 day moving average price of $11.05. OP Bancorp has a 52 week low of $8.30 and a 52 week high of $14.38. 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 (NASDAQ:OPBK - Get Free Report) last announced its quarterly earnings data 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 net margin of 14.52% and a return on equity of 10.92%. The company had revenue of $39.54 million during the quarter. On average, sell-side analysts forecast that OP Bancorp will post 1.38 EPS for the current year.

Insider Buying and Selling

In other OP Bancorp news, insider Ki Won Yoon sold 5,000 shares of the business's stock in a transaction on Wednesday, August 14th. The shares were 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 in the company, valued at approximately $574,128.66. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 21.34% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods restated a "market perform" rating and issued a $13.00 price objective on shares of OP Bancorp in a 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.