OP Bancorp (NASDAQ:OPBK) Announces Quarterly Dividend of $0.12

OP Bancorp (NASDAQ:OPBK - Get Free Report) announced a quarterly dividend on Thursday, July 24th, RTT News reports. Stockholders of record on Thursday, August 7th will be given a dividend of 0.12 per share on Thursday, August 21st. This represents a $0.48 annualized dividend and a dividend yield of 3.48%. The ex-dividend date is Thursday, August 7th.

OP Bancorp has a payout ratio of 26.5% indicating that its dividend is sufficiently covered by earnings.

OP Bancorp Trading Up 2.8%

Shares of OP Bancorp stock traded up $0.38 during trading hours on Monday, hitting $13.80. The company's stock had a trading volume of 54,638 shares, compared to its average volume of 80,880. The company has a market capitalization of $204.93 million, a PE ratio of 9.32 and a beta of 0.65. The business has a fifty day moving average of $12.85 and a 200 day moving average of $12.93. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.36. OP Bancorp has a 1-year low of $10.43 and a 1-year high of $18.57.

OP Bancorp (NASDAQ:OPBK - Get Free Report) last announced its earnings results on Thursday, July 24th. The company reported $0.42 earnings per share for the quarter, meeting the consensus estimate of $0.42. The business had revenue of $23.69 million during the quarter, compared to the consensus estimate of $22.85 million. OP Bancorp had a net margin of 13.91% and a return on equity of 10.81%. As a group, equities analysts forecast that OP Bancorp will post 1.9 EPS for the current year.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods raised their price objective on shares of OP Bancorp from $15.00 to $15.50 and gave the stock a "market perform" rating in a report on Monday.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Empowered Funds LLC grew its holdings in OP Bancorp by 3.5% during the 1st quarter. Empowered Funds LLC now owns 54,763 shares of the company's stock worth $658,000 after acquiring an additional 1,834 shares in the last quarter. Amundi bought a new position in shares of OP Bancorp in the 1st quarter worth about $26,000. Bank of America Corp DE lifted its position in shares of OP Bancorp by 880.9% in the 4th quarter. Bank of America Corp DE now owns 5,758 shares of the company's stock worth $91,000 after buying an additional 5,171 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of OP Bancorp by 45.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 62,824 shares of the company's stock worth $755,000 after buying an additional 19,758 shares during the last quarter. Finally, Jane Street Group LLC lifted its position in shares of OP Bancorp by 124.6% in the 1st quarter. Jane Street Group LLC now owns 45,394 shares of the company's stock worth $546,000 after buying an additional 25,181 shares during the last quarter. 53.63% of the stock is owned by institutional investors and hedge funds.

About OP Bancorp

OP Bancorp operates as the bank holding company for Open Bank that provides banking products and services in California. It offers demand, checking, savings, money market, and time deposit accounts, as well as certificates of deposit. The company also provides commercial real estate, small business administration, commercial and industrial business, single-family residential, term, consumer, and home mortgage loans; trade financing products; and letters of credit, and SWIFT and export advice.