Jacobs Asset Management LLC Has $7.68 Million Holdings in Opus Bank (OPB)
Jacobs Asset Management LLC lessened its stake in shares of Opus Bank (NASDAQ:OPB) by 28.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 320,042 shares of the financial services provider’s stock after selling 129,958 shares during the period. Opus Bank accounts for approximately 1.5% of Jacobs Asset Management LLC’s holdings, making the stock its 28th biggest position. Jacobs Asset Management LLC owned 0.93% of Opus Bank worth $7,681,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. UBS Group AG boosted its holdings in shares of Opus Bank by 23.4% during the 1st quarter. UBS Group AG now owns 4,969 shares of the financial services provider’s stock valued at $100,000 after purchasing an additional 941 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of Opus Bank by 66.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,508 shares of the financial services provider’s stock valued at $133,000 after purchasing an additional 2,208 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its holdings in shares of Opus Bank by 59.0% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 6,820 shares of the financial services provider’s stock valued at $164,000 after purchasing an additional 2,530 shares during the last quarter. Voya Investment Management LLC bought a new position in shares of Opus Bank during the 2nd quarter valued at about $209,000. Finally, Bbva Compass Bancshares Inc. bought a new position in shares of Opus Bank during the 3rd quarter valued at about $220,000. 98.45% of the stock is owned by institutional investors and hedge funds.
Opus Bank (OPB) opened at $27.05 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.90 and a quick ratio of 0.92. Opus Bank has a 1-year low of $18.45 and a 1-year high of $30.60. The company has a market cap of $930.59, a PE ratio of 36.20 and a beta of 1.15.
Opus Bank (NASDAQ:OPB) last announced its quarterly earnings results on Monday, October 23rd. The financial services provider reported $0.54 EPS for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.20. Opus Bank had a net margin of 8.30% and a return on equity of 3.11%. The firm had revenue of $68.20 million during the quarter, compared to the consensus estimate of $70.45 million. During the same quarter last year, the firm earned ($0.09) EPS. The firm’s revenue for the quarter was down 3.7% compared to the same quarter last year. research analysts expect that Opus Bank will post 1.57 earnings per share for the current year.
Several research analysts have commented on OPB shares. TheStreet raised shares of Opus Bank from a “c+” rating to a “b-” rating in a report on Wednesday, October 25th. Piper Jaffray Companies reissued a “buy” rating and set a $27.00 price objective on shares of Opus Bank in a report on Friday, October 6th. Zacks Investment Research raised shares of Opus Bank from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. ValuEngine raised shares of Opus Bank from a “sell” rating to a “hold” rating in a report on Wednesday, September 27th. Finally, 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. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. Opus Bank presently has an average rating of “Hold” and an average target price of $28.50.
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Opus Bank 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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