Opus Bank (OPB) Upgraded to “Buy” by ValuEngine

Opus Bank (NASDAQ:OPB) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

A number of other research firms have also recently issued reports on OPB. Piper Jaffray Companies reiterated a “buy” rating and issued a $30.00 target price on shares of Opus Bank in a research report on Tuesday, January 9th. TheStreet upgraded Opus Bank from a “c+” rating to a “b-” rating in a research report on Wednesday, October 25th. BidaskClub upgraded Opus Bank from a “strong sell” rating to a “sell” rating in a research report on Thursday, October 26th. FIG Partners started coverage on Opus Bank in a research report on Thursday, November 9th. They issued an “outperform” rating and a $32.00 target price on the stock. Finally, Zacks Investment Research upgraded Opus Bank from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a research report on Wednesday, January 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $29.25.

Shares of Opus Bank (NASDAQ:OPB) traded down $0.25 during midday trading on Friday, hitting $27.80. The company had a trading volume of 184,764 shares, compared to its average volume of 196,867. The company has a quick ratio of 0.90, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. Opus Bank has a 52 week low of $18.45 and a 52 week high of $29.90. The company has a market capitalization of $952.87, a PE ratio of 17.82 and a beta of 1.07.

Opus Bank (NASDAQ:OPB) last issued its quarterly earnings results on Monday, January 22nd. The financial services provider reported $0.26 EPS for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.14). Opus Bank had a return on equity of 5.98% and a net margin of 15.45%. The company had revenue of $64.60 million during the quarter, compared to the consensus estimate of $67.30 million. During the same quarter in the previous year, the business posted ($0.55) EPS. The firm’s revenue for the quarter was down 25.8% on a year-over-year basis. research analysts anticipate that Opus Bank will post 1.92 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in OPB. Dimensional Fund Advisors LP grew its holdings in shares of Opus Bank by 19.5% during the third quarter. Dimensional Fund Advisors LP now owns 1,327,792 shares of the financial services provider’s stock worth $31,867,000 after purchasing an additional 216,891 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of Opus Bank by 0.5% during the second quarter. Royal Bank of Canada now owns 738,732 shares of the financial services provider’s stock worth $17,877,000 after purchasing an additional 3,554 shares during the last quarter. Emerald Advisers Inc. PA grew its holdings in shares of Opus Bank by 5.4% during the third quarter. Emerald Advisers Inc. PA now owns 642,671 shares of the financial services provider’s stock worth $15,424,000 after purchasing an additional 32,939 shares during the last quarter. Emerald Mutual Fund Advisers Trust grew its holdings in shares of Opus Bank by 14.6% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 534,380 shares of the financial services provider’s stock worth $12,825,000 after purchasing an additional 67,947 shares during the last quarter. Finally, Eagle Boston Investment Management Inc. grew its holdings in shares of Opus Bank by 1.3% during the third quarter. Eagle Boston Investment Management Inc. now owns 363,581 shares of the financial services provider’s stock worth $8,816,000 after purchasing an additional 4,702 shares during the last quarter. Hedge funds and other institutional investors own 98.52% of the company’s stock.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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