Opus Bank (OPB) Upgraded by ValuEngine to “Hold”
ValuEngine upgraded shares of Opus Bank (NASDAQ:OPB) from a sell rating to a hold rating in a research note released on Tuesday.
Other research analysts have also recently issued reports about the stock. TheStreet raised shares of Opus Bank from a c rating to a b- rating in a report on Thursday, July 13th. Piper Jaffray Companies reissued a buy rating and set a $27.00 price target on shares of Opus Bank in a report on Wednesday, July 12th. Zacks Investment Research raised shares of Opus Bank from a strong sell rating to a hold rating in a report on Wednesday, April 5th. Finally, BidaskClub cut shares of Opus Bank from a buy rating to a hold rating in a report on Wednesday, July 12th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $27.67.
Shares of Opus Bank (NASDAQ:OPB) traded down 0.62% during trading on Tuesday, hitting $23.90. The company had a trading volume of 166,871 shares. The stock’s 50-day moving average is $23.69 and its 200 day moving average is $22.39. Opus Bank has a 52-week low of $18.20 and a 52-week high of $35.90. The firm has a market capitalization of $893.41 million, a P/E ratio of 239.00 and a beta of 1.08.
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, topping the consensus estimate of $0.29 by $0.22. The firm had revenue of $79.83 million during the quarter, compared to analysts’ expectations 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. Equities research analysts predict that Opus Bank will post $1.37 earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently bought and sold shares of the company. UBS Group AG boosted its position in Opus Bank by 23.4% in the first quarter. UBS Group AG now owns 4,969 shares of the financial services provider’s stock valued at $100,000 after buying an additional 941 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Opus Bank by 262.1% in the first quarter. Bank of Montreal Can now owns 8,340 shares of the financial services provider’s stock worth $168,000 after buying an additional 6,037 shares during the period. New York State Teachers Retirement System boosted its position in shares of Opus Bank by 6.3% in the first 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 period. Karp Capital Management Corp bought a new position in shares of Opus Bank during the first quarter worth about $224,000. Finally, Thrivent Financial for Lutherans boosted its position in shares of Opus Bank by 6.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 9,840 shares of the financial services provider’s stock worth $296,000 after buying an additional 570 shares during the period. 91.73% of the stock is owned by hedge funds and other institutional investors.
Opus Bank Company 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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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