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

Key Points

• OP Bancorp declared a quarterly dividend of $0.14 per share, payable November 19 to shareholders of record as of November 5. The dividend implies an annualized payout of $0.56 and a 3.7% yield.
• The dividend appears well covered, with a current payout ratio of 30.9% and an expected future payout ratio of 26.0% based on analysts’ earnings forecasts.
• OP Bancorp recently exceeded quarterly earnings expectations, reporting $0.52 EPS versus the $0.50 consensus and revenue of $27.5 million versus the $26.5 million estimate.

OP Bancorp (NASDAQ:OPBK - Get Free Report) announced a quarterly dividend on Thursday, October 22nd. Investors of record on Thursday, November 5th will be paid a dividend of $0.14 per share on Thursday, November 19th. This represents a $0.56 annualized dividend and a yield of 3.7%. The ex-dividend date is Thursday, November 5th.

OP Bancorp has increased its dividend payment by an average of 0.1% per year over the last three years. OP Bancorp has a payout ratio of 30.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect OP Bancorp to earn $2.15 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 26.0%.

OP Bancorp Stock Up 2.7%

Shares of NASDAQ OPBK opened at $15.02 on Friday. OP Bancorp has a 12-month low of $12.41 and a 12-month high of $16.83. The business's fifty day simple moving average is $15.18 and its 200-day simple moving average is $14.81. The stock has a market cap of $224.25 million, a P/E ratio of 7.58 and a beta of 0.62. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.42.

OP Bancorp (NASDAQ:OPBK - Get Free Report) last issued its earnings results on Thursday, October 22nd. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.02. OP Bancorp had a net margin of 16.87% and a return on equity of 12.59%. The business had revenue of $27.50 million during the quarter, compared to analysts' expectations of $26.50 million. As a group, equities analysts predict that OP Bancorp will post 2.07 EPS for the current fiscal year.

Institutional Trading of OP Bancorp

Several institutional investors have recently added to or reduced their stakes in OPBK. Empowered Funds LLC boosted its stake in OP Bancorp by 9.3% in the first quarter. Empowered Funds LLC now owns 62,639 shares of the company's stock valued at $833,000 after acquiring an additional 5,349 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of OP Bancorp during the 2nd quarter worth approximately $107,000. Bank of America Corp DE acquired a new stake in shares of OP Bancorp during the 2nd quarter worth approximately $153,000. Deutsche Bank AG bought a new stake in shares of OP Bancorp in the 2nd quarter worth approximately $178,000. Finally, Lazard Asset Management LLC bought a new position in OP Bancorp during the 1st quarter worth $180,000. Institutional investors own 53.63% of the company's stock.

OP Bancorp Company Profile

OP Bancorp is the bank holding company for Open Bank, a full-service commercial bank headquartered in Los Angeles, California. Open Bank primarily serves small and medium-sized businesses, entrepreneurs, professionals and individuals, with a focus on relationship-based banking.

The bank offers commercial and consumer deposit products, commercial real estate and business loans, residential mortgage loans, lines of credit and other lending services. It also provides online and mobile banking, treasury management and other services designed to support business and personal financial needs.

Open Bank was established to serve the banking needs of diverse communities, including Korean American and other Asian American customers.

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