OP Bancorp (OPBK) to Issue Quarterly Dividend of $0.12 on May 23rd

OP Bancorp (NASDAQ:OPBK) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Shareholders of record on Thursday, May 9th will be given a dividend of 0.12 per share on Thursday, May 23rd. This represents a $0.48 annualized dividend and a yield of 4.94%. The ex-dividend date is Wednesday, May 8th.

OP Bancorp has raised its dividend by an average of 19.7% annually over the last three years. OP Bancorp has a dividend payout ratio of 32.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect OP Bancorp to earn $1.52 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 31.6%.

OP Bancorp Trading Up 1.3 %

OP Bancorp stock opened at $9.71 on Monday. OP Bancorp has a 12-month low of $7.50 and a 12-month high of $11.49. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $145.26 million, a PE ratio of 6.94 and a beta of 0.63. The firm has a 50 day simple moving average of $9.78 and a 200-day simple moving average of $9.83.

Insiders Place Their Bets

In other news, Director Brian Choi purchased 4,914 shares of the stock in a transaction dated Tuesday, February 6th. The shares were bought at an average cost of $9.95 per share, for a total transaction of $48,894.30. Following the transaction, the director now owns 1,298,520 shares in the company, valued at $12,920,274. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 24.88% of the stock is currently owned by insiders.

About OP Bancorp

OP Bancorp operates as the bank holding company for Open Bank that provides banking products and services in California. It offers demand, checking, savings, money market, and time deposit accounts, as well as certificates of deposit. The company also provides commercial real estate, small business administration, commercial and industrial business, single-family residential, term, consumer, and home mortgage loans; trade financing products; and letters of credit, and SWIFT and export advice.