BidaskClub downgraded shares of Opus Bank (NASDAQ:OPB) from a sell rating to a strong sell rating in a research note issued to investors on Saturday morning.
Several other brokerages have also recently commented on OPB. ValuEngine raised shares of Opus Bank from a sell rating to a hold rating in a research report on Tuesday, July 25th. TheStreet raised shares of Opus Bank from a d+ rating to a c rating in a research report on Monday, April 24th. Piper Jaffray Companies reaffirmed a buy rating and set a $27.00 price target on shares of Opus Bank in a research report on Wednesday, July 12th. Finally, Zacks Investment Research cut shares of Opus Bank from a hold rating to a sell rating in a research report on Saturday, July 8th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. The company has an average rating of Hold and a consensus target price of $27.67.
Shares of Opus Bank (NASDAQ OPB) opened at 23.05 on Friday. The firm has a market cap of $861.82 million, a PE ratio of 215.42 and a beta of 1.07. The stock’s 50 day moving average price is $23.77 and its 200-day moving average price is $21.98. Opus Bank has a 52-week low of $18.20 and a 52-week high of $35.90.
Opus Bank (NASDAQ:OPB) last issued its quarterly 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 business had revenue of $79.83 million for the quarter, compared to analysts’ expectations of $71.47 million. The business’s revenue was down 49.3% compared to the same quarter last year. On average, equities research analysts anticipate that Opus Bank will post $1.41 earnings per share for the current fiscal year.
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A number of large investors have recently added to or reduced their stakes in OPB. UBS Group AG raised 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 during the period. BNP Paribas Arbitrage SA raised its stake in Opus Bank by 66.9% in the second quarter. BNP Paribas Arbitrage SA now owns 5,508 shares of the financial services provider’s stock valued at $133,000 after buying an additional 2,208 shares during the period. Bank of Montreal Can raised 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 during the period. New York State Teachers Retirement System raised 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 during the period. Finally, Voya Investment Management LLC acquired a new stake in Opus Bank during the second quarter valued at $209,000. Hedge funds and other institutional investors 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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