Opus Bank (OPB) Upgraded at Zacks Investment Research

Opus Bank (NASDAQ:OPB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday, August 9th.

According to Zacks, “Opus Bank is a state-charted commercial bank. The Bank accepts deposits, loans, and provides other services for the public. It provides relationship-based banking products, services and loan products for small to mid-sized commercial businesses, entrepreneurs, real estate investors, professionals and consumers. Opus Bank is headquartered in Irvine, California. “

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Several other equities analysts have also recently commented on OPB. ValuEngine raised Opus Bank from a “sell” rating to a “hold” rating in a report on Tuesday, July 25th. Piper Jaffray reissued a “buy” rating and issued a $27.00 target price on shares of Opus Bank in a report on Wednesday, July 12th. BidaskClub cut Opus Bank from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Finally, TheStreet raised Opus Bank from a “d+” rating to a “c” rating in a report on Monday, April 24th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Opus Bank has a consensus rating of “Hold” and an average target price of $30.80.

Opus Bank stock traded up $0.45 during trading hours on Wednesday, hitting $28.40. The stock had a trading volume of 32,732 shares, compared to its average volume of 199,378. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. The stock has a market cap of $959.73, a price-to-earnings ratio of 19.06 and a beta of 0.94. Opus Bank has a fifty-two week low of $19.15 and a fifty-two week high of $30.95.

Opus Bank (NASDAQ:OPB) last posted its quarterly earnings results on Monday, January 22nd. The financial services provider reported $0.26 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.14). The firm had revenue of $64.60 million during 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 company’s revenue was down 25.8% on a year-over-year basis. During the same period last year, the company earned ($0.55) EPS. analysts expect that Opus Bank will post 1.92 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the company. UBS Group AG grew its position in Opus Bank by 23.4% during the 1st quarter. UBS Group AG now owns 4,969 shares of the financial services provider’s stock worth $100,000 after acquiring an additional 941 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in Opus Bank by 66.9% in the 2nd 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 last quarter. Municipal Employees Retirement System of Michigan boosted its position in Opus Bank by 59.0% in the 3rd 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 last quarter. Louisiana State Employees Retirement System bought a new position in Opus Bank in the 4th quarter valued at $202,000. Finally, Teacher Retirement System of Texas bought a new position in Opus Bank in the 4th quarter valued at $212,000. 98.10% of the stock is owned by institutional investors and hedge funds.

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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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