Opus Bank (OPB) Given Consensus Recommendation of “Hold” by Analysts
Shares of Opus Bank (NASDAQ:OPB) have been given an average recommendation of “Hold” by the ten research firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $27.33.
Several equities research analysts have recently weighed in on OPB shares. Keefe, Bruyette & Woods reissued a “hold” rating and set a $24.00 price objective on shares of Opus Bank in a research note on Tuesday, August 29th. TheStreet lowered Opus Bank from a “b-” rating to a “c+” rating in a research note on Wednesday, August 23rd. Zacks Investment Research lowered Opus Bank from a “hold” rating to a “sell” rating in a research note on Saturday, July 8th. BidaskClub lowered Opus Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $27.00 price objective on shares of Opus Bank in a research note on Friday, October 6th.
Institutional investors have recently modified their holdings of the company. UBS Group AG boosted its position in shares of Opus Bank by 23.4% in the first quarter. UBS Group AG now owns 4,969 shares of the financial services provider’s stock worth $100,000 after buying an additional 941 shares during the period. BNP Paribas Arbitrage SA raised its holdings in shares of Opus Bank by 66.9% during the second quarter. BNP Paribas Arbitrage SA now owns 5,508 shares of the financial services provider’s stock worth $133,000 after acquiring an additional 2,208 shares in the last quarter. New York State Teachers Retirement System raised its holdings in shares of Opus Bank by 6.3% during the first quarter. New York State Teachers Retirement System now owns 8,459 shares of the financial services provider’s stock worth $170,000 after acquiring an additional 500 shares in the last quarter. Voya Investment Management LLC purchased a new stake in shares of Opus Bank during the second quarter worth $209,000. Finally, Karp Capital Management Corp purchased a new stake in shares of Opus Bank during the first quarter worth $224,000.
Opus Bank (OPB) traded down 0.41% during mid-day trading on Wednesday, reaching $24.25. The company’s stock had a trading volume of 122,542 shares. The firm’s 50 day moving average price is $22.93 and its 200 day moving average price is $22.57. Opus Bank has a 52 week low of $18.20 and a 52 week high of $35.50. The firm has a market capitalization of $906.68 million, a P/E ratio of 226.64 and a beta of 1.10.
Opus Bank (NASDAQ:OPB) last issued its quarterly earnings results on Monday, July 24th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.22. The firm 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 2.76% and a net margin of 1.15%. The firm’s revenue was down 49.3% on a year-over-year basis. On average, analysts anticipate that Opus Bank will post $1.42 EPS for the current fiscal year.
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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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