Engineers Gate Manager LP purchased a new stake in shares of Opus Bank (NASDAQ:OPB) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 17,484 shares of the financial services provider’s stock, valued at approximately $420,000. Engineers Gate Manager LP owned about 0.05% of Opus Bank at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. California Public Employees Retirement System lifted its holdings in Opus Bank by 129.9% during 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. lifted its holdings in Opus Bank by 2.8% during 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. Aperio Group LLC lifted its holdings in Opus Bank by 39.9% during the 2nd quarter. Aperio Group LLC now owns 15,570 shares of the financial services provider’s stock worth $377,000 after purchasing an additional 4,442 shares in the last quarter. Great West Life Assurance Co. Can lifted its holdings in Opus Bank by 9.2% during the 2nd quarter. Great West Life Assurance Co. Can now owns 26,180 shares of the financial services provider’s stock worth $633,000 after purchasing an additional 2,200 shares in the last quarter. Finally, Texas Permanent School Fund lifted its holdings in Opus Bank by 0.8% during the 2nd quarter. Texas Permanent School Fund now owns 13,263 shares of the financial services provider’s stock worth $321,000 after purchasing an additional 111 shares in the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts recently issued reports on OPB shares. TheStreet cut Opus Bank from a “b-” rating to a “c+” rating in a report on Wednesday, August 23rd. Keefe, Bruyette & Woods reissued a “hold” rating and set a $24.00 price objective on shares of Opus Bank in a report on Tuesday, August 29th. ValuEngine raised Opus Bank from a “sell” rating to a “hold” rating in a report on Wednesday, September 27th. Piper Jaffray Companies restated a “buy” rating and issued a $27.00 target price on shares of Opus Bank in a research note on Friday, October 6th. Finally, BidaskClub upgraded Opus Bank from a “strong sell” rating to a “sell” rating in a research note on Thursday, October 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $28.50.

Opus Bank (NASDAQ:OPB) opened at $27.70 on Friday. The firm has a market capitalization of $949.45, a PE ratio of 36.93 and a beta of 1.15. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.14. Opus Bank has a one year low of $18.45 and a one year high of $30.60.

Opus Bank (NASDAQ:OPB) last announced its earnings results on Monday, October 23rd. The financial services provider reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.20. The business had revenue of $68.20 million for the quarter, compared to analyst estimates of $70.45 million. Opus Bank had a return on equity of 3.11% and a net margin of 8.30%. The company’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.09) EPS. equities analysts predict that Opus Bank will post 1.57 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “Engineers Gate Manager LP Purchases Shares of 17,484 Opus Bank (OPB)” was reported by Watch List News and is owned by of Watch List News. If you are reading this news story on another domain, it was copied illegally and republished in violation of U.S. & international copyright & trademark law. The original version of this news story can be read at https://www.watchlistnews.com/engineers-gate-manager-lp-purchases-shares-of-17484-opus-bank-opb/1769402.html.

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.

Want to see what other hedge funds are holding OPB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Opus Bank (NASDAQ:OPB).

Institutional Ownership by Quarter for Opus Bank (NASDAQ:OPB)

Receive News & Ratings for Opus Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Opus Bank and related companies with Analyst Ratings Network's FREE daily email newsletter.