OP Bancorp (OPBK) to Distribute Quarterly Dividend of $0.14 on August 20th

OP Bancorp (NASDAQ:OPBKGet Free Report) declared a quarterly dividend on Thursday, July 23rd. Shareholders of record on Thursday, August 6th will be given a dividend of 0.14 per share on Thursday, August 20th. This represents a c) dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Thursday, August 6th.

OP Bancorp has raised its dividend payment by an average of 0.1%per year over the last three years. OP Bancorp has a payout ratio of 30.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect OP Bancorp to earn $1.98 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 28.3%.

OP Bancorp Stock Up 5.9%

Shares of NASDAQ:OPBK opened at $15.66 on Friday. The company has a market capitalization of $233.18 million, a price-to-earnings ratio of 8.11 and a beta of 0.60. The company has a 50 day moving average of $14.52 and a two-hundred day moving average of $14.11. OP Bancorp has a 52-week low of $12.41 and a 52-week high of $16.00. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.43.

OP Bancorp (NASDAQ:OPBKGet Free Report) last posted its earnings results on Thursday, July 23rd. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.09. OP Bancorp had a net margin of 16.87% and a return on equity of 12.74%. The business had revenue of $25.72 million for the quarter, compared to analysts’ expectations of $25.15 million. As a group, analysts forecast that OP Bancorp will post 1.91 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

OPBK has been the topic of several analyst reports. Zacks Research raised shares of OP Bancorp from a “strong sell” rating to a “hold” rating in a research note on Friday, March 27th. Weiss Ratings raised shares of OP Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, June 18th. Wall Street Zen cut shares of OP Bancorp from a “buy” rating to a “hold” rating in a research report on Sunday, May 3rd. Finally, DA Davidson restated a “buy” rating and set a $17.00 target price on shares of OP Bancorp in a research note on Tuesday, April 28th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $16.50.

Read Our Latest Stock Analysis on OPBK

OP Bancorp Company Profile

(Get Free Report)

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.

Further Reading

Dividend History for OP Bancorp (NASDAQ:OPBK)

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