Opus Bank (OPB) Receives Average Recommendation of “Hold” from Brokerages

Shares of Opus Bank (NASDAQ:OPB) have been given a consensus rating of “Hold” by the nine ratings firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $28.50.

OPB has been the subject of a number of recent research reports. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $24.00 price objective on shares of Opus Bank in a research note on Tuesday, August 29th. TheStreet cut Opus Bank from a “b-” rating to a “c+” rating in a research note on Wednesday, August 23rd. BidaskClub upgraded Opus Bank from a “strong sell” rating to a “sell” rating in a research note on Thursday, October 26th. FIG Partners initiated coverage on Opus Bank in a research note on Thursday, November 9th. They set an “outperform” rating and a $32.00 price objective for the company. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $27.00 price objective on shares of Opus Bank in a research note on Friday, October 6th.

Opus Bank (NASDAQ:OPB) traded down $0.55 on Thursday, hitting $27.15. The stock had a trading volume of 300,981 shares, compared to its average volume of 268,894. The stock has a market cap of $881.19, a PE ratio of 37.07 and a beta of 1.15. The company has a current ratio of 0.90, a quick ratio of 0.92 and a debt-to-equity ratio of 0.14. Opus Bank has a 52 week low of $18.45 and a 52 week high of $30.60.

Opus Bank (NASDAQ:OPB) last announced its quarterly earnings data on Monday, October 23rd. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.20. The business had revenue of $68.20 million during the quarter, compared to analysts’ expectations of $70.45 million. Opus Bank had a return on equity of 3.11% and a net margin of 8.30%. The firm’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.09) earnings per share. sell-side analysts predict that Opus Bank will post 1.57 EPS for the current fiscal year.

Several institutional investors have recently bought and sold shares of OPB. JPMorgan Chase & Co. bought a new stake in shares of Opus Bank in the 1st quarter worth $334,000. California Public Employees Retirement System increased its holdings in shares of Opus Bank by 129.9% in the 1st quarter. California Public Employees Retirement System now owns 17,700 shares of the financial services provider’s stock worth $357,000 after purchasing an additional 10,000 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Opus Bank by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 904,898 shares of the financial services provider’s stock worth $18,233,000 after purchasing an additional 24,348 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Opus Bank by 7.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 789,587 shares of the financial services provider’s stock worth $15,910,000 after purchasing an additional 54,110 shares in the last quarter. Finally, UBS Group AG increased its holdings in shares of Opus Bank by 23.4% in the 1st quarter. UBS Group AG now owns 4,969 shares of the financial services provider’s stock worth $100,000 after purchasing an additional 941 shares in the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Opus Bank (NASDAQ:OPB)

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