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

OP Bancorp (NASDAQ:OPBK) declared a quarterly dividend on Thursday, January 22nd. Shareholders of record on Thursday, February 5th will be given a dividend of 0.12 per share on Thursday, February 19th. This represents a c) dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Thursday, February 5th.

OP Bancorp has raised its dividend by an average of 0.2%annually over the last three years. OP Bancorp has a payout ratio of 26.5% indicating that its dividend is sufficiently covered by earnings.

OP Bancorp Stock Down 1.0%

Shares of OP Bancorp stock opened at $14.81 on Friday. OP Bancorp has a 1 year low of $10.43 and a 1 year high of $16.07. The firm has a market cap of $220.52 million, a price-to-earnings ratio of 9.43 and a beta of 0.68. The company has a 50-day moving average of $14.07 and a 200 day moving average of $13.83. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.01 and a quick ratio of 1.01.

OP Bancorp (NASDAQ:OPBK) last issued its quarterly earnings results on Thursday, January 22nd. The company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.05). The company had revenue of $24.28 million for the quarter, compared to the consensus estimate of $24.85 million. OP Bancorp had a net margin of 14.42% and a return on equity of 11.09%. As a group, sell-side analysts anticipate that OP Bancorp will post 1.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Keefe, Bruyette & Woods lifted their target price on shares of OP Bancorp from $15.50 to $16.00 and gave the stock a “market perform” rating in a report on Monday, October 27th. DA Davidson raised their price target on shares of OP Bancorp from $16.50 to $17.00 and gave the company a “buy” rating in a research report on Tuesday, October 28th. Zacks Research cut OP Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of OP Bancorp in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $16.50.

OP Bancorp Company Profile

OP Bancorp is the bank holding company for Old Point National Bank, a community-focused financial institution headquartered in Suffolk, Virginia. Through its subsidiary, the company offers a broad range of commercial and consumer banking services designed to meet the needs of businesses, professionals and individuals across the Hampton Roads and Virginia Peninsula regions. Core services include business lending, real estate financing, deposit accounts, cash management solutions and treasury services.

The company’s lending portfolio spans commercial real estate loans, construction and land development financing, equipment loans and lines of credit tailored for small and medium-sized enterprises.