Opus Bank (OPB) Upgraded to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Opus Bank (NASDAQ:OPB) from a strong sell rating to a hold rating in a research note published on Wednesday, June 28th.

According to Zacks, “Opus Bank is a state-charted commercial bank. The Bank accepts deposits, loans, and provides other services for the public. It provides relationship-based banking products, services and loan products for small to mid-sized commercial businesses, entrepreneurs, real estate investors, professionals and consumers. Opus Bank is headquartered in Irvine, California. “

OPB has been the subject of several other reports. Piper Jaffray Companies reiterated an overweight rating and issued a $24.00 target price (down from $25.00) on shares of Opus Bank in a report on Monday, April 17th. ValuEngine cut shares of Opus Bank from a hold rating to a sell rating in a report on Friday, June 2nd. Finally, TheStreet upgraded shares of Opus Bank from a d+ rating to a c rating in a report on Monday, April 24th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $27.67.

Opus Bank (NASDAQ:OPB) traded down 0.62% during trading on Wednesday, hitting $23.90. 166,871 shares of the stock were exchanged. The firm has a market cap of $893.41 million, a PE ratio of 239.00 and a beta of 1.08. Opus Bank has a 12-month low of $18.20 and a 12-month high of $35.90. The stock’s 50-day moving average price is $23.69 and its 200-day moving average price is $22.39.

Opus Bank (NASDAQ:OPB) last announced its earnings results on Monday, July 24th. The financial services provider reported $0.51 EPS for the quarter, topping the consensus estimate of $0.29 by $0.22. Opus Bank had a net margin of 1.15% and a return on equity of 2.76%. The company had revenue of $79.83 million during the quarter, compared to analysts’ expectations of $71.47 million. The firm’s revenue was down 49.3% on a year-over-year basis. On average, equities analysts expect that Opus Bank will post $1.37 EPS for the current year.

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Hedge funds have recently bought and sold shares of the company. UBS Group AG boosted its stake in Opus Bank by 23.4% in the first quarter. UBS Group AG now owns 4,969 shares of the financial services provider’s stock valued at $100,000 after buying an additional 941 shares in the last quarter. Bank of Montreal Can boosted its stake in Opus Bank by 262.1% in the first quarter. Bank of Montreal Can now owns 8,340 shares of the financial services provider’s stock valued at $168,000 after buying an additional 6,037 shares in the last quarter. New York State Teachers Retirement System boosted its stake in Opus Bank by 6.3% in the first quarter. New York State Teachers Retirement System now owns 8,459 shares of the financial services provider’s stock valued at $170,000 after buying an additional 500 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in Opus Bank by 6.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 9,840 shares of the financial services provider’s stock valued at $296,000 after buying an additional 570 shares in the last quarter. Finally, Tudor Investment Corp Et Al bought a new stake in Opus Bank during the fourth quarter valued at approximately $334,000. Institutional investors and hedge funds own 91.73% of the company’s stock.

Opus Bank Company Profile

Opus Bank is a commercial bank. The Company provides banking products, services and solutions to its clients through its Retail Bank, Commercial Bank, Merchant Bank, and Correspondent Bank. The Company’s Commercial Bank consists Commercial Banking, Business Banking, Healthcare Banking, Technology Banking, Fiduciary Banking, Institutional Syndications and Commercial Real Estate Banking (CREB), which includes Income Property Banking, its Structured Finance Group and Capital Markets Group.

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