Dimensional Fund Advisors LP Has $15.91 Million Position in Opus Bank (OPB)
Dimensional Fund Advisors LP increased its stake in shares of Opus Bank (NASDAQ:OPB) by 7.4% during the first quarter, Holdings Channel reports. The firm owned 789,587 shares of the financial services provider’s stock after buying an additional 54,110 shares during the period. Dimensional Fund Advisors LP’s holdings in Opus Bank were worth $15,910,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the stock. Macquarie Group Ltd. acquired a new position in Opus Bank during the fourth quarter worth $466,000. State of Tennessee Treasury Department boosted its position in Opus Bank by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 17,703 shares of the financial services provider’s stock worth $357,000 after buying an additional 2,672 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in Opus Bank during the first quarter worth $334,000. Eagle Boston Investment Management Inc. boosted its position in Opus Bank by 5.5% in the first quarter. Eagle Boston Investment Management Inc. now owns 339,621 shares of the financial services provider’s stock worth $6,843,000 after buying an additional 17,717 shares during the last quarter. Finally, US Bancorp DE boosted its position in Opus Bank by 0.3% in the first quarter. US Bancorp DE now owns 27,687 shares of the financial services provider’s stock worth $558,000 after buying an additional 80 shares during the last quarter. 91.73% of the stock is owned by institutional investors and hedge funds.
Shares of Opus Bank (NASDAQ OPB) traded down 0.21% during trading on Tuesday, hitting $23.40. The company’s stock had a trading volume of 14,972 shares. The stock has a market cap of $874.90 million, a PE ratio of 218.69 and a beta of 1.07. Opus Bank has a one year low of $18.20 and a one year high of $35.90. The company has a 50-day moving average price of $23.78 and a 200-day moving average price of $22.01.
Opus Bank (NASDAQ:OPB) last posted its quarterly earnings results on Monday, July 24th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating the Zacks’ 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 the consensus estimate of $71.47 million. Opus Bank’s revenue was down 49.3% on a year-over-year basis. Equities analysts predict that Opus Bank will post $1.41 EPS for the current fiscal year.
A number of equities analysts recently weighed in on the company. ValuEngine cut Opus Bank from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $27.00 price target on shares of Opus Bank in a report on Wednesday, July 12th. BidaskClub cut Opus Bank from a “sell” rating to a “strong sell” rating in a report on Saturday. Zacks Investment Research raised Opus Bank from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 28th. Finally, TheStreet raised Opus Bank from a “c” rating to a “b-” rating in a report on Thursday, July 13th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $27.67.
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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