Credit Suisse AG Has $562,000 Stake in Opus Bank (OPB)
Credit Suisse AG cut its stake in Opus Bank (NASDAQ:OPB) by 4.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,889 shares of the financial services provider’s stock after selling 1,241 shares during the period. Credit Suisse AG owned 0.07% of Opus Bank worth $562,000 as of its most recent filing with the SEC.
Other large investors have also recently added to or reduced their stakes in the company. Tudor Investment Corp ET AL raised its stake in Opus Bank by 97.3% in the first quarter. Tudor Investment Corp ET AL now owns 21,900 shares of the financial services provider’s stock valued at $441,000 after buying an additional 10,800 shares during the period. Elliott Management Corp raised its stake in Opus Bank by 7.3% in the first quarter. Elliott Management Corp now owns 5,419,153 shares of the financial services provider’s stock valued at $109,196,000 after buying an additional 367,874 shares during the period. AQR Capital Management LLC increased its position in Opus Bank by 11.1% in the first quarter. AQR Capital Management LLC now owns 304,155 shares of the financial services provider’s stock valued at $6,128,000 after buying an additional 30,376 shares in the last quarter. Highbridge Capital Management LLC bought a new position in Opus Bank during the first quarter valued at approximately $630,000. Finally, State Street Corp increased its position in Opus Bank by 83.8% in the first quarter. State Street Corp now owns 1,205,354 shares of the financial services provider’s stock valued at $24,289,000 after buying an additional 549,567 shares in the last quarter. Hedge funds and other institutional investors own 91.73% of the company’s stock.
Opus Bank (NASDAQ OPB) traded up 0.785% on Thursday, reaching $22.475. 35,766 shares of the company traded hands. The stock has a market capitalization of $840.32 million, a price-to-earnings ratio of 210.047 and a beta of 1.07. Opus Bank has a 1-year low of $18.21 and a 1-year high of $35.90. The stock has a 50 day moving average of $23.42 and a 200-day moving average of $22.07.
Opus Bank (NASDAQ:OPB) last released its quarterly earnings data on Monday, July 24th. The financial services provider reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.22. The business had revenue of $79.83 million for the quarter, compared to analyst estimates of $71.47 million. Opus Bank had a return on equity of 2.76% and a net margin of 1.15%. Opus Bank’s quarterly revenue was down 49.3% compared to the same quarter last year. On average, equities analysts anticipate that Opus Bank will post $1.41 EPS for the current year.
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Several research firms recently commented on OPB. Zacks Investment Research raised shares of Opus Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. TheStreet downgraded shares of Opus Bank from a “b-” rating to a “c+” rating in a research note on Wednesday, August 23rd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $24.00 price target on shares of Opus Bank in a research note on Tuesday. BidaskClub downgraded shares of Opus Bank from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th. Finally, ValuEngine raised shares of Opus Bank from a “sell” rating to a “hold” rating in a research note on Tuesday, July 25th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $27.33.
About Opus Bank
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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