Opus Bank (OPB) Holdings Lifted by Emerald Mutual Fund Advisers Trust
Emerald Mutual Fund Advisers Trust grew its stake in shares of Opus Bank (NASDAQ:OPB) by 14.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 534,380 shares of the financial services provider’s stock after acquiring an additional 67,947 shares during the period. Emerald Mutual Fund Advisers Trust owned about 1.56% of Opus Bank worth $12,825,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. UBS Group AG grew its holdings in Opus Bank by 23.4% during the 1st quarter. UBS Group AG now owns 4,969 shares of the financial services provider’s stock worth $100,000 after acquiring an additional 941 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in 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 worth $133,000 after acquiring an additional 2,208 shares in the last quarter. New York State Teachers Retirement System lifted its position in shares of Opus Bank by 6.3% in the 1st quarter. New York State Teachers Retirement System now owns 8,459 shares of the financial services provider’s stock worth $170,000 after buying an additional 500 shares during the last quarter. Voya Investment Management LLC bought a new position in shares of Opus Bank in the 2nd quarter worth about $209,000. Finally, Arizona State Retirement System bought a new position in shares of Opus Bank in the 2nd quarter worth about $230,000.
Opus Bank (NASDAQ:OPB) last posted its earnings results on Monday, October 23rd. The financial services provider reported $0.54 earnings per share for the quarter, topping the Thomson Reuters’ 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 business had revenue of $68.20 million for the quarter, compared to analyst estimates of $70.45 million. During the same quarter in the prior year, the firm earned ($0.09) EPS. The firm’s quarterly revenue was down 3.7% compared to the same quarter last year.
A number of research analysts have recently issued reports on OPB shares. Zacks Investment Research downgraded shares of Opus Bank from a “hold” rating to a “sell” rating in a research report on Saturday, July 8th. BidaskClub downgraded shares of Opus Bank from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Piper Jaffray Companies reiterated a “buy” rating and issued a $27.00 price objective on shares of Opus Bank in a research report on Wednesday, July 12th. TheStreet upgraded shares of Opus Bank from a “c” rating to a “b-” rating in a research report on Thursday, July 13th. Finally, ValuEngine upgraded shares of Opus Bank from a “sell” rating to a “hold” rating in a research report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target 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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