Opus Bank (OPB) Shares Sold by Pinebridge Investments L.P.
Pinebridge Investments L.P. decreased its position in shares of Opus Bank (NASDAQ:OPB) by 9.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,401 shares of the financial services provider’s stock after selling 1,242 shares during the quarter. Pinebridge Investments L.P.’s holdings in Opus Bank were worth $300,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in OPB. Elliott Management Corp boosted its position in shares of Opus Bank by 7.3% in the 1st quarter. Elliott Management Corp now owns 5,419,153 shares of the financial services provider’s stock worth $109,196,000 after buying an additional 367,874 shares in the last quarter. Mendon Capital Advisors Corp grew its stake in Opus Bank by 31.9% in the 1st quarter. Mendon Capital Advisors Corp now owns 1,228,420 shares of the financial services provider’s stock valued at $24,753,000 after acquiring an additional 297,000 shares during the last quarter. State Street Corp grew its stake in Opus Bank by 83.8% in the 1st quarter. State Street Corp now owns 1,205,354 shares of the financial services provider’s stock valued at $24,289,000 after acquiring an additional 549,567 shares during the last quarter. Vanguard Group Inc. grew its stake in Opus Bank by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 904,898 shares of the financial services provider’s stock valued at $18,233,000 after acquiring an additional 24,348 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in Opus Bank by 0.6% during the 1st quarter. Ameriprise Financial Inc. now owns 828,414 shares of the financial services provider’s stock valued at $16,693,000 after acquiring an additional 4,803 shares in the last quarter. 91.73% of the stock is currently owned by institutional investors and hedge funds.
Shares of Opus Bank (NASDAQ OPB) opened at 24.30 on Wednesday. The firm has a 50-day moving average of $22.69 and a 200 day moving average of $22.38. The stock has a market capitalization of $908.55 million, a PE ratio of 227.10 and a beta of 1.10. Opus Bank has a 1-year low of $18.20 and a 1-year high of $35.56.
Opus Bank (NASDAQ:OPB) last posted its quarterly earnings data on Monday, July 24th. The financial services provider reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.22. The company had revenue of $79.83 million during the quarter, compared to analyst estimates of $71.47 million. Opus Bank had a net margin of 1.15% and a return on equity of 2.76%. The firm’s quarterly revenue was down 49.3% compared to the same quarter last year. On average, equities analysts anticipate that Opus Bank will post $1.42 earnings per share for the current fiscal year.
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A number of brokerages have issued reports on OPB. Piper Jaffray Companies restated a “buy” rating and set a $27.00 target price on shares of Opus Bank in a research report on Wednesday, July 12th. BidaskClub lowered shares of Opus Bank from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 12th. Zacks Investment Research upgraded shares of Opus Bank from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 28th. TheStreet upgraded shares of Opus Bank from a “c” rating to a “b-” rating in a research report on Thursday, July 13th. Finally, ValuEngine raised shares of Opus Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, September 27th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. Opus Bank currently has a consensus rating of “Hold” and a consensus 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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