Endeavour Capital Advisors Inc. lessened its position in shares of Opus Bank (NASDAQ:OPB) by 64.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 229,667 shares of the financial services provider’s stock after selling 415,669 shares during the period. Opus Bank accounts for 2.5% of Endeavour Capital Advisors Inc.’s holdings, making the stock its 14th biggest holding. Endeavour Capital Advisors Inc. owned about 0.67% of Opus Bank worth $6,270,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. grew its holdings in Opus Bank by 0.3% in the fourth quarter. BlackRock Inc. now owns 2,427,743 shares of the financial services provider’s stock worth $66,278,000 after purchasing an additional 8,369 shares during the period. Dimensional Fund Advisors LP grew its holdings in Opus Bank by 19.5% in 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 period. Emerald Advisers Inc. PA grew its holdings in Opus Bank by 26.4% in the fourth quarter. Emerald Advisers Inc. PA now owns 812,574 shares of the financial services provider’s stock worth $22,183,000 after purchasing an additional 169,903 shares during the period. Eagle Boston Investment Management Inc. grew its holdings in Opus Bank by 17.1% in the fourth quarter. Eagle Boston Investment Management Inc. now owns 425,636 shares of the financial services provider’s stock worth $11,619,000 after purchasing an additional 62,055 shares during the period. Finally, Hennessy Advisors Inc. grew its holdings in Opus Bank by 7.6% in the fourth quarter. Hennessy Advisors Inc. now owns 355,000 shares of the financial services provider’s stock worth $9,692,000 after purchasing an additional 25,000 shares during the period. 98.18% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have commented on the stock. Zacks Investment Research upgraded shares of Opus Bank from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a report on Wednesday, January 10th. BidaskClub upgraded shares of Opus Bank from a “sell” rating to a “hold” rating in a report on Monday, February 5th. Piper Jaffray Companies cut shares of Opus Bank from an “overweight” rating to a “neutral” rating in a report on Tuesday, January 23rd. Keefe, Bruyette & Woods restated a “hold” rating and issued a $31.00 price target on shares of Opus Bank in a report on Tuesday, February 27th. Finally, ValuEngine upgraded shares of Opus Bank from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Opus Bank currently has an average rating of “Hold” and an average target price of $31.00.
Opus Bank (NASDAQ:OPB) last issued its quarterly earnings data on Monday, January 22nd. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.14). The business had revenue of $64.60 million for the quarter, compared to analyst estimates of $67.30 million. Opus Bank had a net margin of 15.45% and a return on equity of 5.98%. The firm’s quarterly revenue was down 25.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.55) earnings per share. equities analysts predict that Opus Bank will post 1.92 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Thursday, February 1st were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend was Wednesday, January 31st. Opus Bank’s dividend payout ratio is currently 31.75%.
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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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