Bank of America Corp DE Buys New Stake in Onespan Inc $OSPN

Key Points

• Bank of America acquired 62,332 OneSpan shares in the second quarter, valued at approximately $894,000, giving it about a 0.17% stake. Institutional investors collectively own 95.52% of the company.
• OneSpan reported quarterly revenue of $60.47 million and earnings of $0.30 per share, exceeding analyst estimates of $58.25 million and $0.23, respectively.
• The company pays a quarterly dividend of $0.13 per share, equivalent to a 2.9% yield, while analysts maintain a “Moderate Buy” consensus with an average price target of $17.00.

Bank of America Corp DE acquired a new stake in shares of Onespan Inc (NASDAQ:OSPN - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 62,332 shares of the company's stock, valued at approximately $894,000. Bank of America Corp DE owned approximately 0.17% of Onespan as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of OSPN. GAMMA Investing LLC boosted its stake in Onespan by 33.7% during the second quarter. GAMMA Investing LLC now owns 6,960 shares of the company's stock valued at $100,000 after buying an additional 1,755 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Onespan by 0.4% in the 1st quarter. Bank of New York Mellon Corp now owns 504,141 shares of the company's stock worth $5,309,000 after purchasing an additional 1,993 shares during the last quarter. Allworth Financial LP bought a new stake in shares of Onespan in the 2nd quarter worth approximately $36,000. Global Retirement Partners LLC bought a new stake in shares of Onespan in the 2nd quarter worth approximately $61,000. Finally, Bridge City Capital LLC lifted its stake in Onespan by 31.0% during the fourth quarter. Bridge City Capital LLC now owns 28,579 shares of the company's stock valued at $367,000 after purchasing an additional 6,755 shares during the last quarter. Institutional investors and hedge funds own 95.52% of the company's stock.

Onespan Price Performance

Shares of Onespan stock opened at $18.12 on Friday. The company has a current ratio of 1.33, a quick ratio of 1.23 and a debt-to-equity ratio of 0.02. The firm has a fifty day simple moving average of $16.61 and a 200-day simple moving average of $14.16. The stock has a market capitalization of $667.76 million, a price-to-earnings ratio of 10.18, a PEG ratio of 1.57 and a beta of 1.59. Onespan Inc has a 1-year low of $10.07 and a 1-year high of $18.48.

Onespan (NASDAQ:OSPN - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.23 by $0.07. Onespan had a net margin of 27.76% and a return on equity of 16.91%. The firm had revenue of $60.47 million for the quarter, compared to the consensus estimate of $58.25 million. On average, sell-side analysts expect that Onespan Inc will post 1.05 earnings per share for the current year.

Onespan Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 4th. Investors of record on Friday, August 14th were paid a dividend of $0.13 per share. The ex-dividend date was Friday, August 14th. This represents a $0.52 annualized dividend and a yield of 2.9%. Onespan's dividend payout ratio is presently 29.21%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on OSPN. DA Davidson lifted their price target on shares of Onespan from $14.00 to $16.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 5th. Weiss Ratings upgraded Onespan from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, September 14th. Finally, Rosenblatt Securities raised their price objective on Onespan from $16.00 to $18.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $17.00.

Onespan Company Profile

OneSpan Inc NASDAQ: OSPN is a cybersecurity and digital agreement company that helps organizations secure digital transactions, authenticate users and manage electronic signatures. Its solutions are designed to protect access to online services and support trusted digital interactions across web, mobile and other channels.

The company's product portfolio includes OneSpan Sign, an electronic signature and digital agreement platform, along with authentication products such as hardware and software security tokens, mobile authenticators and transaction-signing solutions.

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