OneSpan (NASDAQ:OSPN) Shares Gap Up Following Dividend Announcement

OneSpan Inc. (NASDAQ:OSPN)’s stock price gapped up prior to trading on Friday following a dividend announcement from the company. The stock had previously closed at $14.66, but opened at $15.97. OneSpan shares last traded at $14.89, with a volume of 89,890 shares traded.

The newly announced dividend which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date is Friday, May 16th. OneSpan’s dividend payout ratio is 32.65%.

Analyst Ratings Changes

Several analysts recently issued reports on OSPN shares. StockNews.com downgraded shares of OneSpan from a “buy” rating to a “hold” rating in a report on Friday, March 28th. Rosenblatt Securities restated a “buy” rating and set a $20.00 price target on shares of OneSpan in a report on Friday.

OneSpan Stock Up 2.7 %

The firm has a market cap of $575.36 million, a P/E ratio of 20.34 and a beta of 1.21. The stock’s 50-day moving average is $15.32 and its 200-day moving average is $17.12.

Institutional Trading of OneSpan

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Barclays PLC lifted its position in shares of OneSpan by 388.5% in the 3rd quarter. Barclays PLC now owns 66,719 shares of the company’s stock worth $1,113,000 after acquiring an additional 53,060 shares during the period. Assenagon Asset Management S.A. lifted its position in OneSpan by 46.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 495,210 shares of the company’s stock worth $9,181,000 after purchasing an additional 157,387 shares during the period. JPMorgan Chase & Co. boosted its stake in OneSpan by 177.5% during the third quarter. JPMorgan Chase & Co. now owns 1,106,806 shares of the company’s stock worth $18,450,000 after buying an additional 708,020 shares in the last quarter. Robeco Institutional Asset Management B.V. bought a new stake in OneSpan in the 4th quarter valued at $540,000. Finally, Amundi acquired a new position in shares of OneSpan in the 4th quarter valued at $314,000. 95.52% of the stock is currently owned by institutional investors and hedge funds.

OneSpan Company Profile

OneSpan Inc, together with its subsidiaries, designs, develops, and markets digital solutions for identity, authentication, and secure digital agreements worldwide. The company offers OneSpan Sign, a range of e-signature requirements for occasional agreement to processing tens of thousands of transactions; OneSpan Cloud Authentication, a cloud-based multifactor authentication solution that supports a range of authentication options, including biometrics, push notification, and visual cryptograms for transaction data security, SMS, and hardware authenticators; and OneSpan Identity Verification, which enables banks and financial institutions identity verification services.