BidaskClub Downgrades Opus Bank (OPB) to Strong Sell
Opus Bank (NASDAQ:OPB) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Saturday.
Several other research firms have also commented on OPB. ValuEngine upgraded shares of Opus Bank from a “sell” rating to a “hold” rating in a research report on Tuesday, July 25th. TheStreet upgraded shares of Opus Bank from a “d+” rating to a “c” rating in a research report on Monday, April 24th. Piper Jaffray Companies reiterated a “buy” rating and issued a $27.00 price objective on shares of Opus Bank in a research report on Wednesday, July 12th. Finally, Zacks Investment Research lowered shares of Opus Bank from a “hold” rating to a “sell” rating in a research report on Saturday, July 8th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $27.67.
Opus Bank (OPB) traded up 0.22% during mid-day trading on Friday, reaching $23.05. 336,260 shares of the company traded hands. Opus Bank has a 52 week low of $18.20 and a 52 week high of $35.90. The firm has a market capitalization of $861.82 million, a price-to-earnings ratio of 215.42 and a beta of 1.07. The stock’s 50 day moving average price is $23.77 and its 200 day moving average price is $22.11.
Opus Bank (NASDAQ:OPB) last released its quarterly earnings data on Monday, July 24th. The financial services provider reported $0.51 EPS for the quarter, topping the consensus estimate of $0.29 by $0.22. Opus Bank had a net margin of 1.15% and a return on equity of 2.76%. The business had revenue of $79.83 million for the quarter, compared to analyst estimates of $71.47 million. Opus Bank’s quarterly revenue was down 49.3% compared to the same quarter last year. Equities analysts forecast that Opus Bank will post $1.41 EPS for the current year.
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Large investors have recently added to or reduced their stakes in the company. Ameriprise Financial Inc. raised its position in Opus Bank by 0.6% in the first quarter. Ameriprise Financial Inc. now owns 828,414 shares of the financial services provider’s stock worth $16,693,000 after buying an additional 4,803 shares during the period. Sei Investments Co. raised its position in Opus Bank by 313.4% in the first quarter. Sei Investments Co. now owns 33,485 shares of the financial services provider’s stock worth $674,000 after buying an additional 25,385 shares during the period. Karp Capital Management Corp purchased a new position in Opus Bank during the first quarter worth about $224,000. US Bancorp DE raised 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 worth $558,000 after buying an additional 80 shares during the period. Finally, First Trust Advisors LP raised its position in Opus Bank by 26.2% in the first quarter. First Trust Advisors LP now owns 113,983 shares of the financial services provider’s stock worth $2,297,000 after buying an additional 23,698 shares during the period. Institutional investors and hedge funds own 91.73% of the company’s stock.
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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