OP Bancorp (NASDAQ:OPBK) to Issue Quarterly Dividend of $0.14

OP Bancorp (NASDAQ:OPBK) declared a quarterly dividend on Thursday, October 22nd. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Thursday, November 5th.

OP Bancorp has raised its dividend by an average of 0.1% annually over the last three years. OP Bancorp has a dividend payout ratio of 30.9% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Trading Up 2.7%

Shares of OPBK opened at $15.02 on Friday. The stock’s fifty day simple moving average is $15.18 and its 200-day simple moving average is $14.81. The firm has a market capitalization of $224.25 million, a PE ratio of 7.78 and a beta of 0.62. OP Bancorp has a 12-month low of $12.41 and a 12-month high of $16.83. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.42.

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

Analysts Set New Price Targets

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