OP Bancorp (OPBK) To Go Ex-Dividend on May 7th

OP Bancorp (NASDAQ:OPBK) declared a quarterly dividend on Thursday, April 23rd. Shareholders of record on Thursday, May 7th will be given a dividend of 0.14 per share on Thursday, May 21st. This represents a c) dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Thursday, May 7th. This is a 16.7% increase from OP Bancorp’s previous quarterly dividend of $0.12.

OP Bancorp has raised its dividend by an average of 0.1%per year over the last three years. OP Bancorp has a dividend payout ratio of 30.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect OP Bancorp to earn $2.01 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 27.9%.

OP Bancorp Trading Down 2.0%

NASDAQ OPBK opened at $14.37 on Tuesday. OP Bancorp has a 12 month low of $11.52 and a 12 month high of $15.27. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.03 and a quick ratio of 1.02. The company has a market capitalization of $214.03 million, a price-to-earnings ratio of 7.90 and a beta of 0.62. The company’s fifty day moving average price is $13.61 and its two-hundred day moving average price is $13.80.

OP Bancorp (NASDAQ:OPBK) last issued its earnings results on Thursday, April 23rd. The company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.07. The company had revenue of $24.56 million for the quarter, compared to analysts’ expectations of $25.37 million. OP Bancorp had a net margin of 16.12% and a return on equity of 12.36%. As a group, research analysts predict that OP Bancorp will post 1.9 earnings per share for the current fiscal year.

Hedge Funds Weigh In On OP Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Diversify Wealth Management LLC bought a new position in OP Bancorp during the first quarter valued at approximately $26,511,000. NewEdge Advisors LLC raised its position in OP Bancorp by 34.7% during the fourth quarter. NewEdge Advisors LLC now owns 19,431 shares of the company’s stock valued at $274,000 after acquiring an additional 5,009 shares in the last quarter. Empowered Funds LLC raised its position in OP Bancorp by 4.5% during the fourth quarter. Empowered Funds LLC now owns 57,290 shares of the company’s stock valued at $809,000 after acquiring an additional 2,462 shares in the last quarter. Man Group plc raised its position in shares of OP Bancorp by 40.8% in the fourth quarter. Man Group plc now owns 54,746 shares of the company’s stock valued at $773,000 after purchasing an additional 15,876 shares during the period. Finally, Bridgeway Capital Management LLC raised its position in shares of OP Bancorp by 1.2% in the fourth quarter. Bridgeway Capital Management LLC now owns 209,040 shares of the company’s stock valued at $2,952,000 after purchasing an additional 2,462 shares during the period. Institutional investors own 53.63% of the company’s stock.

About OP Bancorp

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.