Opus Bank (OPB) Downgraded by Credit Suisse Group AG to Neutral
Opus Bank (NASDAQ:OPB) was downgraded by investment analysts at Credit Suisse Group AG from an “outperform” rating to a “neutral” rating in a research note issued on Monday, The Fly reports.
A number of other analysts have also recently commented on the stock. JMP Securities began coverage on shares of Opus Bank in a research note on Friday, September 16th. They issued a “market perform” rating for the company. TheStreet upgraded shares of Opus Bank from a “hold” rating to a “buy” rating in a research note on Friday, July 15th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Opus Bank in a research note on Sunday, July 10th. 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 report on Tuesday, June 28th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $41.80.
Shares of Opus Bank (NASDAQ:OPB) traded down 21.04% on Monday, reaching $27.20. 1,494,659 shares of the company traded hands. Opus Bank has a 52-week low of $27.19 and a 52-week high of $41.49. The stock has a market cap of $932.28 million, a price-to-earnings ratio of 14.34 and a beta of 0.51. The stock has a 50 day moving average of $34.85 and a 200 day moving average of $34.79.
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Opus Bank (NASDAQ:OPB) last announced its quarterly earnings results on Monday, July 25th. The company reported $0.46 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%. On average, analysts expect that Opus Bank will post $2.29 earnings per share for the current year.
Several institutional investors have recently modified their holdings of the stock. TIAA CREF Investment Management LLC raised its position in shares of Opus Bank by 40.0% in the first quarter. TIAA CREF Investment Management LLC now owns 192,678 shares of the company’s stock valued at $6,551,000 after buying an additional 55,089 shares during the last quarter. JPMorgan Chase & Co. raised its position in Opus Bank by 5.5% in the first quarter. JPMorgan Chase & Co. now owns 23,476 shares of the company’s stock worth $798,000 after buying an additional 1,229 shares in the last quarter. Consector Capital LP raised its position in Opus Bank by 20.6% in the first quarter. Consector Capital LP now owns 85,038 shares of the company’s stock worth $2,891,000 after buying an additional 14,538 shares in the last quarter. Kennedy Capital Management Inc. raised its position in Opus Bank by 8.0% in the first quarter. Kennedy Capital Management Inc. now owns 623,257 shares of the company’s stock worth $21,191,000 after buying an additional 46,131 shares in the last quarter. Finally, Granahan Investment Management Inc. MA raised its position in 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 in the last quarter. 93.90% of the stock is currently owned by institutional investors.
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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