OP Bankcorp (OPBK) Declares $0.12 Dividend

OP Bancorp said on January 26, 2023 that its board of directors declared a regular quarterly dividend of $0.12 per share ($0.48 annualized). Shareholders of record as of February 8, 2023 will receive the payment on February 23, 2023. Previously, the company paid $0.12 per share.

At the current share price of $11.32 / share, the stock's dividend yield is 4.24%. Looking back five years and taking a sample every week, the average dividend yield has been 3.23%, the lowest has been 1.85%, and the highest has been 4.74%. The standard deviation of yields is 0.86 (n=189).

The current dividend yield is 1.17 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.22. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.71%, demonstrating that it has increased its dividend over time.

Analyst Price Forecast Suggests 28.40% Upside

As of January 31, 2023, the average one-year price target for Open Bank is $14.54. The forecasts range from a low of $14.14 to a high of $15.22. The average price target represents an increase of 28.40% from its latest reported closing price of $11.32.

The projected annual revenue for Open Bank is $103MM, an increase of 12.13%. The projected annual EPS is $2.06, a decrease of 6.23%.

Fund Sentiment

There are 110 funds or institutions reporting positions in Open Bank. This is an increase of 4 owner(s) or 3.77%.

Average portfolio weight of all funds dedicated to US:OPBK is 0.1921%, an increase of 107.7550%. Total shares owned by institutions increased in the last three months by 5.44% to 8,300K shares.

What are large shareholders doing?

Alliancebernstein holds 837,632 shares representing 5.49% ownership of the company. In it's prior filing, the firm reported owning 796,146 shares, representing an increase of 4.95%. The firm increased its portfolio allocation in OPBK by 0.10% over the last quarter.

Klk Capital Management holds 737,500 shares representing 4.83% ownership of the company. No change in the last quarter.

Manufacturers Life Insurance Company, The holds 672,600 shares representing 4.40% ownership of the company. In it's prior filing, the firm reported owning 766,505 shares, representing a decrease of 13.96%. The firm decreased its portfolio allocation in OPBK by 6.67% over the last quarter.

Stieven Capital Advisors holds 599,220 shares representing 3.92% ownership of the company. In it's prior filing, the firm reported owning 599,520 shares, representing a decrease of 0.05%. The firm increased its portfolio allocation in OPBK by 10.00% over the last quarter.

Wellington Management Group Llp holds 438,194 shares representing 2.87% ownership of the company. In it's prior filing, the firm reported owning 363,850 shares, representing an increase of 16.97%. The firm decreased its portfolio allocation in OPBK by 81.22% over the last quarter.

OP Bancorp Background Information
(This description is provided by the company.)

OP Bancorp, the holding company for Open Bank (the 'Bank'), is a California corporation.' The Bank is engaged in the general commercial banking business in Los Angeles, Orange, and Santa Clara Counties, California and Carrollton, Texas and is focused on serving the banking needs of small- and medium-sized businesses, professionals, and residents with a particular emphasis on Korean and other ethnic minority communities. The Bank currently operates with nine full branch offices in Downtown Los Angeles, Los Angeles Fashion District, Los Angeles Koreatown, Gardena, Buena Park, and Santa Clara, California, and Carrollton, Texas. The Bank also has four loan production offices in Atlanta, Georgia, Aurora, Colorado, and Lynnwood and Seattle, Washington. The Bank commenced its operations on June 10, 2005 as First Standard Bank and changed its name to Open Bank in October 2010. Its headquarters is located at 1000 Wilshire Blvd., Suite 500, Los Angeles, California 90017.

This story originally appeared on Fintel.