OneSpan (NASDAQ:OSPN) Shares Gap Up After Dividend Announcement

OneSpan Inc. (NASDAQ:OSPN - Get Free Report)'s stock price gapped up before the market opened on Friday following a dividend announcement from the company. The stock had previously closed at $14.66, but opened at $15.97. OneSpan shares last traded at $14.89, with a volume of 89,890 shares changing hands. The newly announced dividend which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 3.19%. The ex-dividend date is Friday, May 16th. OneSpan's payout ratio is presently 33.10%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Rosenblatt Securities reissued a "buy" rating and issued a $20.00 price objective on shares of OneSpan in a research note on Friday. StockNews.com cut OneSpan from a "buy" rating to a "hold" rating in a report on Friday, March 28th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $17.13.

OneSpan Price Performance

The business's 50-day simple moving average is $15.32 and its two-hundred day simple moving average is $17.11. The stock has a market cap of $575.36 million, a price-to-earnings ratio of 20.34 and a beta of 1.03.

Hedge Funds Weigh In On OneSpan

Several large investors have recently bought and sold shares of the company. Barclays PLC increased its stake in shares of OneSpan by 388.5% in the third quarter. Barclays PLC now owns 66,719 shares of the company's stock valued at $1,113,000 after buying an additional 53,060 shares during the period. Assenagon Asset Management S.A. increased its position in OneSpan by 46.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 495,210 shares of the company's stock valued at $9,181,000 after acquiring an additional 157,387 shares during the period. JPMorgan Chase & Co. raised its stake in shares of OneSpan by 177.5% during the third quarter. JPMorgan Chase & Co. now owns 1,106,806 shares of the company's stock valued at $18,450,000 after acquiring an additional 708,020 shares during the last quarter. Robeco Institutional Asset Management B.V. acquired a new position in shares of OneSpan during the fourth quarter worth $540,000. Finally, Amundi bought a new stake in shares of OneSpan in the fourth quarter worth $314,000. 95.52% of the stock is currently owned by institutional investors.

OneSpan Company 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.

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