Opus Bank (NASDAQ:OPB) Receives Average Rating of “Buy” from Brokerages
Opus Bank (NASDAQ:OPB) has received an average rating of “Buy” from the eight analysts that are presently covering the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $42.33.
OPB has been the topic of a number of recent analyst reports. JMP Securities initiated coverage on Opus Bank in a research report on Friday, September 16th. They set a “market perform” rating on the stock. Credit Suisse Group AG initiated coverage on Opus Bank in a research note on Wednesday, June 29th. They issued an “outperform” rating and a $44.00 price objective for the company. JPMorgan Chase & Co. reissued a “buy” rating on shares of Opus Bank in a research note on Sunday, July 10th. TheStreet raised Opus Bank from a “hold” rating to a “buy” rating in a research note on Friday, July 15th. Finally, Piper Jaffray Cos. reissued an “overweight” rating and issued a $41.00 price objective (down from $45.00) on shares of Opus Bank in a research note on Tuesday, June 28th.
Hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. increased its stake in shares of Opus Bank by 12.4% in the second quarter. Victory Capital Management Inc. now owns 1,291,887 shares of the company’s stock worth $43,665,000 after buying an additional 142,608 shares during the period. BlackRock Fund Advisors increased its stake in shares of Opus Bank by 369.0% in the second quarter. BlackRock Fund Advisors now owns 1,144,873 shares of the company’s stock worth $38,697,000 after buying an additional 900,768 shares during the period. Emerald Mutual Fund Advisers Trust increased its stake in shares of Opus Bank by 41.4% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 954,540 shares of the company’s stock worth $32,263,000 after buying an additional 279,569 shares during the period. Vanguard Group Inc. increased its stake in shares of Opus Bank by 27.9% in the second quarter. Vanguard Group Inc. now owns 766,794 shares of the company’s stock worth $25,918,000 after buying an additional 167,422 shares during the period. Finally, Granahan Investment Management Inc. MA increased its stake in shares of Opus Bank by 24.6% in the first quarter. Granahan Investment Management Inc. MA now owns 760,105 shares of the company’s stock worth $25,844,000 after buying an additional 150,235 shares during the period. 93.91% of the stock is owned by institutional investors and hedge funds.
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Shares of Opus Bank (NASDAQ:OPB) traded up 1.00% during mid-day trading on Monday, hitting $35.40. 36,977 shares of the stock were exchanged. The company has a 50-day moving average price of $34.68 and a 200-day moving average price of $34.77. Opus Bank has a 12 month low of $28.84 and a 12 month high of $41.49. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of 18.66 and a beta of 0.51.
Opus Bank (NASDAQ:OPB) last announced its earnings results on Monday, July 25th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by $0.18. Opus Bank had a net margin of 22.45% and a return on equity of 7.45%. Equities analysts expect that Opus Bank will post $2.29 earnings per share for the current year.
About Opus Bank
Opus Bank is a California-chartered commercial bank. The Company provides relationship-based banking products, services and solutions to small and mid-sized companies, entrepreneurs, real estate investors, professionals and individuals. It is organized into four lines of business: commercial banking operations, which is referred to as Commercial Bank; retail banking operations, which is referred to as Retail Bank; merchant banking operations, which is referred to as Merchant Bank and correspondent banking operations, which is referred to as Correspondent Bank.
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