OP Bancorp (NASDAQ:OPBK) Shareholders Set to Receive $0.14 Quarterly Dividend

OP Bancorp (NASDAQ:OPBK) announced a quarterly dividend on Thursday, October 22nd. Shareholders of record on Thursday, November 5th will be paid a dividend of $0.14 per share on Thursday, November 19th. This represents a $0.56 annualized dividend and a yield of 3.7%. The ex-dividend date is Thursday, November 5th.

OP Bancorp has raised its dividend payment by an average of 0.1% annually over the last three years. OP Bancorp has a payout ratio of 30.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect OP Bancorp to earn $2.15 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 26.0%.

OP Bancorp Stock Up 2.7%

NASDAQ OPBK opened at $15.02 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.02 and a quick ratio of 1.01. The company’s 50 day simple moving average is $15.18 and its 200 day simple moving average is $14.81. OP Bancorp has a 12 month low of $12.41 and a 12 month high of $16.83. The company has a market capitalization of $224.25 million, a P/E ratio of 7.58 and a beta of 0.62.

OP Bancorp (NASDAQ:OPBK) last posted its quarterly earnings data on Thursday, October 22nd. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.02. OP Bancorp had a net margin of 16.87% and a return on equity of 12.59%. The company had revenue of $27.50 million during the quarter, compared to analyst estimates of $26.50 million. Equities research analysts expect that OP Bancorp will post 2.07 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on OPBK shares. Weiss Ratings restated a “buy (b)” rating on shares of OP Bancorp in a research note on Monday, September 14th. DA Davidson lifted their price target on OP Bancorp from $17.00 to $18.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Keefe, Bruyette & Woods boosted their price target on OP Bancorp from $17.00 to $17.50 and gave the company a “market perform” rating in a research note on Monday, July 27th. Wall Street Zen downgraded OP Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Finally, Zacks Research downgraded OP Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, September 28th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, OP Bancorp has a consensus rating of “Moderate Buy” and an average price target of $17.75.

About OP Bancorp

OP Bancorp is the bank holding company for Open Bank, a full-service commercial bank headquartered in Los Angeles, California. Open Bank primarily serves small and medium-sized businesses, entrepreneurs, professionals and individuals, with a focus on relationship-based banking.

The bank offers commercial and consumer deposit products, commercial real estate and business loans, residential mortgage loans, lines of credit and other lending services. It also provides online and mobile banking, treasury management and other services designed to support business and personal financial needs.

Open Bank was established to serve the banking needs of diverse communities, including Korean American and other Asian American customers.