Opus Bank (OPB) Receives Average Recommendation of “Hold” from Analysts
Shares of Opus Bank (NASDAQ:OPB) have earned an average rating of “Hold” from the nine ratings firms that are currently covering the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $26.67.
OPB has been the subject of a number of analyst reports. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $24.00 price target (down previously from $25.00) on shares of Opus Bank in a research report on Monday, April 17th. TheStreet cut Opus Bank from a “c-” rating to a “d+” rating in a research report on Monday, February 6th. Zacks Investment Research raised Opus Bank from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 5th. JPMorgan Chase & Co. cut Opus Bank from an “overweight” rating to a “neutral” rating in a research report on Monday, January 30th. Finally, Hovde Group cut Opus Bank from an “outperform” rating to a “market perform” rating and set a $31.00 price objective for the company. in a research report on Monday, January 30th.
Shares of Opus Bank (NASDAQ:OPB) traded down 0.23% during midday trading on Friday, hitting $21.85. The company had a trading volume of 280,869 shares. The company’s 50 day moving average is $20.64 and its 200 day moving average is $23.30. Opus Bank has a one year low of $18.20 and a one year high of $38.19. The firm has a market cap of $813.21 million, a price-to-earnings ratio of 420.19 and a beta of 1.05.
Opus Bank (NASDAQ:OPB) last announced its quarterly earnings results on Monday, April 24th. The financial services provider reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by $0.06. Opus Bank had a return on equity of 3.42% and a net margin of 3.40%. The company had revenue of $68.59 million during the quarter, compared to analyst estimates of $72.14 million. Equities analysts forecast that Opus Bank will post $1.25 earnings per share for the current fiscal year.
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A number of institutional investors have recently bought and sold shares of OPB. US Bancorp DE boosted its position in Opus Bank by 0.3% in the first quarter. US Bancorp DE now owns 27,687 shares of the financial services provider’s stock valued at $558,000 after buying an additional 80 shares during the period. Municipal Employees Retirement System of Michigan raised its stake in Opus Bank by 2.2% in the third quarter. Municipal Employees Retirement System of Michigan now owns 4,180 shares of the financial services provider’s stock valued at $148,000 after buying an additional 90 shares in the last quarter. New York State Teachers Retirement System raised its stake in 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 valued at $170,000 after buying an additional 500 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in 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 valued at $296,000 after buying an additional 570 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in Opus Bank by 0.7% in the first quarter. Wells Fargo & Company MN now owns 102,544 shares of the financial services provider’s stock valued at $2,067,000 after buying an additional 711 shares in the last quarter. 93.61% 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.
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