Bank of New York Mellon Corp Takes $7.27 Million Position in Onespan Inc $OSPN

Key Points

• Bank of New York Mellon acquired 506,758 OneSpan shares worth approximately $7.27 million, representing about 1.37% of the company. Institutional investors collectively own 95.52% of OneSpan.
• OneSpan exceeded quarterly expectations, reporting adjusted EPS of $0.30 versus the $0.23 consensus and revenue of $60.47 million compared with estimates of $58.25 million.
• The company declared a quarterly dividend of $0.13, equivalent to an annualized $0.52 and a 3.1% yield. Analyst sentiment remains broadly neutral, with an average “Hold” rating and a $17 consensus price target.

Bank of New York Mellon Corp acquired a new position in Onespan Inc (NASDAQ:OSPN - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 506,758 shares of the company's stock, valued at approximately $7,272,000. Bank of New York Mellon Corp owned approximately 1.37% of Onespan as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Towarzystwo Funduszy Inwestycyjnych PZU SA increased its position in shares of Onespan by 81.8% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 2,000 shares of the company's stock valued at $26,000 after acquiring an additional 900 shares during the last quarter. Comerica Bank lifted its stake in Onespan by 455.2% in the first quarter. Comerica Bank now owns 2,465 shares of the company's stock valued at $38,000 after acquiring an additional 2,021 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in Onespan in the fourth quarter valued at $32,000. Global Retirement Partners LLC bought a new position in shares of Onespan in the 4th quarter valued at about $50,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of Onespan by 289.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,133 shares of the company's stock worth $86,000 after purchasing an additional 3,816 shares during the last quarter. Institutional investors and hedge funds own 95.52% of the company's stock.

Onespan Price Performance

Shares of OSPN stock opened at $16.75 on Friday. The business has a fifty day simple moving average of $15.58 and a 200 day simple moving average of $13.22. The company has a market cap of $617.24 million, a P/E ratio of 9.41, a P/E/G ratio of 1.40 and a beta of 1.57. The company has a quick ratio of 1.23, a current ratio of 1.33 and a debt-to-equity ratio of 0.02. Onespan Inc has a twelve month low of $10.07 and a twelve month high of $18.48.

Onespan (NASDAQ:OSPN - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported $0.30 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $58.25 million. On average, sell-side analysts forecast that Onespan Inc will post 1.05 EPS for the current fiscal year.

Onespan Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Friday, August 14th will be given a $0.13 dividend. The ex-dividend date is Friday, August 14th. This represents a $0.52 dividend on an annualized basis and a yield of 3.1%. Onespan's dividend payout ratio (DPR) is currently 29.21%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on OSPN. DA Davidson raised their target price on shares of Onespan from $14.00 to $16.00 and gave the company a "neutral" rating in a research note on Wednesday, August 5th. Weiss Ratings raised Onespan from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, August 13th. Finally, Rosenblatt Securities lifted their target price on Onespan from $16.00 to $18.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $17.00.

Insider Buying and Selling at Onespan

In other Onespan news, CFO Jorge Martell sold 20,000 shares of the business's stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $14.45, for a total transaction of $289,000.00. Following the sale, the chief financial officer owned 91,018 shares of the company's stock, valued at approximately $1,315,210.10. The trade was a 18.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 2.00% of the company's stock.

About Onespan

OneSpan, formerly known as Vasco Data Security International, is a Chicago-based cybersecurity software company specializing in digital identity and anti-fraud solutions. Founded in 1991, the company provides a suite of authentication and transaction security products designed to help organizations protect critical applications and high-value transactions across online, mobile and in-branch channels.

The core OneSpan portfolio includes multi-factor authentication, risk-based authentication and transaction signing solutions.

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