43,725 Shares in Onespan Inc $OSPN Bought by Pinnacle Wealth Management LLC

Key Points

• Pinnacle Wealth Management LLC has invested approximately $667,000 in Onespan Inc, acquiring 43,725 shares during the first quarter, representing about 0.11% of the company's stock.
• Onespan recently announced a quarterly dividend of $0.12 per share, with a yield of 3.5% and a payout ratio of 31.79%.
• Analysts have adjusted their price targets for Onespan, with Rosenblatt Securities reducing their target from $20.00 to $17.00 and Wall Street Zen downgrading the stock from a "buy" to a "hold" rating.

Pinnacle Wealth Management LLC purchased a new stake in shares of Onespan Inc (NASDAQ:OSPN - Free Report) in the first quarter, according to its most recent filing with the SEC. The firm purchased 43,725 shares of the company's stock, valued at approximately $667,000. Pinnacle Wealth Management LLC owned 0.11% of Onespan at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Copeland Capital Management LLC purchased a new position in shares of Onespan during the 1st quarter worth approximately $64,000. Meeder Asset Management Inc. increased its stake in shares of Onespan by 14.6% during the 1st quarter. Meeder Asset Management Inc. now owns 6,164 shares of the company's stock worth $94,000 after purchasing an additional 783 shares in the last quarter. State of Tennessee Department of Treasury purchased a new position in shares of Onespan during the 4th quarter worth approximately $147,000. MQS Management LLC purchased a new position in shares of Onespan during the 1st quarter worth approximately $158,000. Finally, Kapitalo Investimentos Ltda purchased a new position in shares of Onespan during the 1st quarter worth approximately $183,000. 95.52% of the stock is currently owned by institutional investors and hedge funds.

Onespan Price Performance

OSPN stock traded up $0.57 during midday trading on Friday, hitting $14.56. The stock had a trading volume of 380,398 shares, compared to its average volume of 448,691. The firm has a market cap of $558.08 million, a PE ratio of 9.64 and a beta of 1.12. Onespan Inc has a 12-month low of $12.51 and a 12-month high of $20.36. The company's 50-day moving average price is $15.29 and its 200 day moving average price is $15.84.

Onespan Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 15th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.48 annualized dividend and a dividend yield of 3.3%. Onespan's payout ratio is currently 31.79%.

Insider Buying and Selling at Onespan

In related news, Director Marc Zenner acquired 2,200 shares of the stock in a transaction dated Friday, August 8th. The stock was bought at an average cost of $12.80 per share, with a total value of $28,160.00. Following the purchase, the director directly owned 71,273 shares of the company's stock, valued at approximately $912,294.40. This represents a 3.19% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Garry L. Capers acquired 2,000 shares of the stock in a transaction dated Friday, August 8th. The shares were bought at an average cost of $13.07 per share, with a total value of $26,140.00. Following the completion of the purchase, the director directly owned 36,894 shares in the company, valued at approximately $482,204.58. This trade represents a 5.73% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

OSPN has been the subject of a number of recent research reports. Rosenblatt Securities dropped their price objective on shares of Onespan from $20.00 to $17.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th. Wall Street Zen cut shares of Onespan from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $18.00.

Onespan Profile

OneSpan Inc, together with its subsidiaries, designs, develops, and markets digital solutions for identity, authentication, and secure digital agreements worldwide. The company offers OneSpan Sign, a range of e-signature requirements for occasional agreement to processing tens of thousands of transactions; OneSpan Cloud Authentication, a cloud-based multifactor authentication solution that supports a range of authentication options, including biometrics, push notification, and visual cryptograms for transaction data security, SMS, and hardware authenticators; and OneSpan Identity Verification, which enables banks and financial institutions identity verification services.