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

OP Bancorp (NASDAQ:OPBK) declared a quarterly dividend on Thursday, April 23rd. Investors 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 4.0%. The ex-dividend date 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 payment by an average of 0.1%annually over the last three years. OP Bancorp has a payout ratio of 26.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect OP Bancorp to earn $2.06 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 23.3%.

OP Bancorp Trading Down 0.4%

OPBK opened at $14.11 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.44. OP Bancorp has a 52 week low of $11.52 and a 52 week high of $15.27. The business’s 50 day moving average is $13.56 and its two-hundred day moving average is $13.76. The firm has a market cap of $210.10 million, a price-to-earnings ratio of 8.25 and a beta of 0.62.

OP Bancorp (NASDAQ:OPBK) last posted its quarterly earnings data on Thursday, April 23rd. The company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.07. The business had revenue of $24.56 million during the quarter, compared to the consensus estimate of $25.37 million. OP Bancorp had a return on equity of 11.75% and a net margin of 15.39%. On average, research analysts predict that OP Bancorp will post 1.84 EPS for the current year.

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.