Opus Bank (OPB) Stock Rating Upgraded by ValuEngine
Opus Bank (NASDAQ:OPB) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.
A number of other equities research analysts have also weighed in on OPB. BidaskClub lowered Opus Bank from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Zacks Investment Research lowered Opus Bank from a “hold” rating to a “sell” rating in a research report on Saturday, July 8th. TheStreet raised Opus Bank from a “c” rating to a “b-” rating in a research report on Thursday, July 13th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $27.00 target price on shares of Opus Bank in a research report on Wednesday, July 12th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. Opus Bank presently has a consensus rating of “Hold” and an average target price of $27.67.
Shares of Opus Bank (NASDAQ:OPB) traded down 0.20% during midday trading on Tuesday, reaching $24.45. The company had a trading volume of 599,783 shares. The firm’s 50 day moving average price is $23.50 and its 200-day moving average price is $22.44. The stock has a market capitalization of $910.15 million, a price-to-earnings ratio of 479.41 and a beta of 1.07. Opus Bank has a 1-year low of $18.20 and a 1-year high of $36.75.
Opus Bank (NASDAQ:OPB) last issued its earnings results on Monday, July 24th. The financial services provider reported $0.51 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.22. The business had revenue of $79.83 million during the quarter, compared to analyst estimates of $71.47 million. Opus Bank had a return on equity of 2.46% and a net margin of 0.53%. The firm’s revenue for the quarter was down 49.3% on a year-over-year basis. Equities research analysts expect that Opus Bank will post $1.28 EPS for the current fiscal year.
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Several hedge funds and other institutional investors have recently made changes to their positions in the stock. RMB Capital Management LLC increased its position in shares of Opus Bank by 86.0% in the fourth quarter. RMB Capital Management LLC now owns 273,401 shares of the financial services provider’s stock worth $8,216,000 after buying an additional 126,391 shares in the last quarter. Macquarie Group Ltd. bought a new position in shares of Opus Bank during the fourth quarter worth about $466,000. State of Tennessee Treasury Department increased its position in shares of Opus Bank by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 17,703 shares of the financial services provider’s stock worth $357,000 after buying an additional 2,672 shares in the last quarter. State Street Corp increased its position in shares of Opus Bank by 38.5% in the fourth quarter. State Street Corp now owns 655,787 shares of the financial services provider’s stock worth $19,707,000 after buying an additional 182,161 shares in the last quarter. Finally, Elliott Management Corp increased its position in shares of Opus Bank by 7.3% in the first quarter. Elliott Management Corp now owns 5,419,153 shares of the financial services provider’s stock worth $109,196,000 after buying an additional 367,874 shares in the last quarter. Institutional investors and hedge funds own 91.73% of the company’s stock.
About Opus Bank
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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