Opus Bank (NASDAQ:OPB) – Investment analysts at FIG Partners increased their FY2019 earnings per share estimates for Opus Bank in a report released on Wednesday. FIG Partners analyst T. Coffey now expects that the financial services provider will earn $2.34 per share for the year, up from their previous estimate of $2.06. FIG Partners currently has a “Outperform” rating and a $32.00 target price on the stock.
Other equities analysts have also issued reports about the stock. ValuEngine raised shares of Opus Bank from a “sell” rating to a “hold” rating in a research report on Wednesday, September 27th. Piper Jaffray Companies reissued a “buy” rating and set a $27.00 price objective on shares of Opus Bank in a report on Friday, October 6th. BidaskClub lowered shares of Opus Bank from a “hold” rating to a “sell” rating in a report on Friday, December 29th. Finally, TheStreet raised shares of Opus Bank from a “c+” rating to a “b-” rating in a report on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $28.50.
Opus Bank (NASDAQ:OPB) last issued its earnings results on Monday, October 23rd. The financial services provider reported $0.54 EPS for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.20. The business had revenue of $68.20 million for the quarter, compared to analyst estimates of $70.45 million. Opus Bank had a net margin of 8.30% and a return on equity of 3.11%. The company’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period last year, the company posted ($0.09) earnings per share.
Hedge funds have recently modified their holdings of the stock. BNP Paribas Arbitrage SA increased its holdings in 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 valued at $133,000 after buying an additional 2,208 shares during the period. Municipal Employees Retirement System of Michigan increased its holdings in Opus Bank by 59.0% during the third quarter. Municipal Employees Retirement System of Michigan now owns 6,820 shares of the financial services provider’s stock valued at $164,000 after buying an additional 2,530 shares during the period. Voya Investment Management LLC purchased a new position in Opus Bank during the second quarter valued at approximately $209,000. Bbva Compass Bancshares Inc. purchased a new position in Opus Bank during the third quarter valued at approximately $220,000. Finally, Arizona State Retirement System purchased a new position in Opus Bank during the second quarter valued at approximately $230,000. 98.45% of the stock is currently owned by institutional investors.
TRADEMARK VIOLATION NOTICE: “FIG Partners Comments on Opus Bank’s FY2019 Earnings (OPB)” was posted by American Banking News and is owned by of American Banking News. If you are viewing this story on another site, it was copied illegally and republished in violation of US and international trademark & copyright law. The correct version of this story can be read at https://www.americanbankingnews.com/2018/01/04/fig-partners-comments-on-opus-banks-fy2019-earnings-opb.html.
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.
Receive News & Ratings for Opus Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Opus Bank and related companies with MarketBeat.com's FREE daily email newsletter.