Opus Bank (OPB) Issues Q3 Earnings Guidance
Opus Bank (NASDAQ:OPB) issued an update on its third quarter earnings guidance on Monday morning. The company provided EPS guidance of $0.54 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.62.
A number of brokerages have weighed in on OPB. Credit Suisse Group AG reiterated a buy rating on shares of Opus Bank in a report on Tuesday, July 12th. TheStreet upgraded shares of Opus Bank from a hold rating to a buy rating in a report on Friday, July 15th. JPMorgan Chase & Co. decreased their price target on shares of Opus Bank from $39.00 to $38.00 and set an overweight rating on the stock in a report on Thursday, July 7th. Piper Jaffray Cos. reiterated an overweight rating and issued a $41.00 price target (down previously from $45.00) on shares of Opus Bank in a report on Tuesday, June 28th. Finally, JMP Securities began coverage on shares of Opus Bank in a report on Friday, September 16th. They issued a market perform rating on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. The stock has an average rating of Buy and a consensus price target of $41.80.
Opus Bank (NASDAQ:OPB) opened at 34.45 on Monday. The stock has a 50 day moving average of $34.85 and a 200-day moving average of $34.79. Opus Bank has a 52 week low of $28.84 and a 52 week high of $41.49. The stock has a market cap of $1.18 billion, a P/E ratio of 18.16 and a beta of 0.51.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/17/opus-bank-opb-issues-q3-earnings-guidance.html
Opus Bank (NASDAQ:OPB) last released its quarterly earnings results on Monday, July 25th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.64 by $0.18. Opus Bank had a net margin of 22.45% and a return on equity of 7.45%. Analysts forecast that Opus Bank will post $2.29 earnings per share for the current year.
Large investors have recently added to or reduced their stakes in the stock. BlackRock Fund Advisors raised its stake in 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 in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in Opus Bank by 58.4% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 474,228 shares of the company’s stock worth $16,029,000 after buying an additional 174,847 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Opus Bank by 46.0% in the second quarter. Dimensional Fund Advisors LP now owns 551,291 shares of the company’s stock worth $18,633,000 after buying an additional 173,761 shares in the last quarter. Vanguard Group Inc. raised its stake in 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 in the last quarter. Finally, State Street Corp raised its stake in Opus Bank by 33.3% in the second quarter. State Street Corp now owns 401,445 shares of the company’s stock worth $13,572,000 after buying an additional 100,374 shares in the last quarter. Institutional investors and hedge funds own 93.90% of the company’s stock.
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.
Receive News & Ratings for Opus Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Opus Bank and related companies with MarketBeat.com's FREE daily email newsletter.