Opus Bank (OPB) Stock Rating Lowered by Credit Suisse Group AG
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 report issued to clients and investors on Monday, The Fly reports.
OPB has been the topic of a number of other reports. Piper Jaffray Cos. reiterated an “overweight” rating and set a $41.00 price target (down from $45.00) on shares of Opus Bank in a research report on Tuesday, June 28th. TheStreet raised Opus Bank from a “hold” rating to a “buy” rating in a report on Friday, July 15th. JPMorgan Chase & Co. decreased their price objective on Opus Bank from $39.00 to $38.00 and set an “overweight” rating for the company in a report on Thursday, July 7th. Finally, JMP Securities assumed coverage on Opus Bank in a report on Friday, September 16th. They issued a “market perform” rating for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $41.80.
Shares of Opus Bank (NASDAQ:OPB) traded down 21.04% on Monday, hitting $27.20. The company’s stock had a trading volume of 1,494,659 shares. The company has a 50 day moving average of $34.85 and a 200 day moving average of $34.79. The firm has a market cap of $932.28 million, a PE ratio of 14.34 and a beta of 0.51. Opus Bank has a 1-year low of $27.19 and a 1-year high of $41.49.
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Opus Bank (NASDAQ:OPB) last announced its quarterly earnings results on Monday, July 25th. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by $0.18. Opus Bank had a return on equity of 7.45% and a net margin of 22.45%. Equities analysts forecast that Opus Bank will post $2.29 EPS for the current year.
A number of institutional investors have recently modified their holdings of the stock. BlackRock Fund Advisors raised its position 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 last quarter. Royal Bank of Canada raised its position in shares of Opus Bank by 1,502.9% in the second quarter. Royal Bank of Canada now owns 607,418 shares of the company’s stock worth $20,531,000 after buying an additional 569,523 shares during the last quarter. Lombardia Capital Partners LLC purchased a new position in shares of Opus Bank during the second quarter worth about $11,301,000. Emerald Mutual Fund Advisers Trust raised its position 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 last quarter. Finally, Hillcrest Asset Management LLC purchased a new position in shares of Opus Bank during the first quarter worth about $7,409,000. 93.90% of the stock is owned by hedge funds and other 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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