OP Bancorp Plans Quarterly Dividend of $0.10 (OTCMKTS:OPBK)

OP Bancorp (OTCMKTS:OPBK – Get Rating) declared a quarterly dividend on Monday, May 2nd, Wall Street Journal reports. Stockholders of record on Thursday, May 12th will be given a dividend of 0.10 per share on Thursday, May 26th. This represents a $0.40 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend is Wednesday, May 11th.

OPBK opened at $12.71 on Tuesday. The firm has a 50-day moving average price of $13.54 and a 200-day moving average price of $13.07. OP Bancorp has a twelve month low of $9.51 and a twelve month high of $14.86.

OP Bancorp (OTCMKTS:OPBK – Get Rating) last posted its earnings results on Thursday, April 28th. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.01.

In related news, Director Ock Hee Kim bought 6,800 shares of the company’s stock in a transaction on Friday, February 25th. The stock was acquired at an average cost of $12.95 per share, for a total transaction of $88,060.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Brian Choi bought 10,000 shares of the company’s stock in a transaction on Monday, February 14th. The shares were bought at an average price of $13.75 per share, with a total value of $137,500.00. The disclosure for this purchase can be found here. Insiders bought 50,720 shares of company stock valued at $670,380 over the last 90 days.

Several hedge funds have recently bought and sold shares of OPBK. Royal Bank of Canada increased its stake in shares of OP Bancorp by 314.7% in the second quarter. Royal Bank of Canada now owns 3,965 shares of the company’s stock worth $40,000 after buying an additional 3,009 shares during the period. Marshall Wace LLP purchased a new position in shares of OP Bancorp in the fourth quarter worth $39,000. Dimensional Fund Advisors LP increased its stake in shares of OP Bancorp by 7.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 71,932 shares of the company’s stock worth $918,000 after buying an additional 5,015 shares during the period. Millennium Management LLC increased its stake in shares of OP Bancorp by 7.7% in the fourth quarter. Millennium Management LLC now owns 163,568 shares of the company’s stock worth $2,087,000 after buying an additional 11,695 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in shares of OP Bancorp by 1.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 887,671 shares of the company’s stock worth $11,327,000 after buying an additional 14,687 shares during the period.

Separately, Zacks Investment Research upgraded shares of OP Bancorp from a “hold” rating to a “strong-buy” rating and set a $15.00 price objective for the company in a research report on Friday, February 4th.

OP Bancorp Company Profile (Get Rating)

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.

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