Credit Suisse Group AG Downgrades Opus Bank (OPB) to Neutral
Opus Bank (NASDAQ:OPB) was downgraded by research analysts at Credit Suisse Group AG from an “outperform” rating to a “neutral” rating in a research note issued on Monday.
Several other equities analysts have also issued reports on OPB. TheStreet upgraded shares of Opus Bank from a “hold” rating to a “buy” rating in a report on Friday, July 15th. JPMorgan Chase & Co. reduced their price target on shares of Opus Bank from $39.00 to $38.00 and set an “overweight” rating for the company in a research report on Thursday, July 7th. Piper Jaffray Cos. reissued an “overweight” rating and set a $41.00 price target (down previously from $45.00) on shares of Opus Bank in a research report on Tuesday, June 28th. Finally, JMP Securities began coverage on shares of Opus Bank in a research report on Friday, September 16th. They set a “market perform” rating for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $41.80.
Shares of Opus Bank (NASDAQ:OPB) opened at 27.30 on Monday. Opus Bank has a 52-week low of $26.55 and a 52-week high of $41.49. The stock has a market cap of $935.71 million, a P/E ratio of 14.39 and a beta of 0.51. The firm’s 50 day moving average price is $34.45 and its 200 day moving average price is $34.70.
Opus Bank (NASDAQ:OPB) last released its earnings results on Monday, July 25th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by $0.18. Opus Bank had a net margin of 22.45% and a return on equity of 7.45%. On average, analysts expect that Opus Bank will post $2.29 EPS for the current year.
A number of large investors have recently bought and sold shares of OPB. Tower Research Capital LLC TRC increased its stake in Opus Bank by 363.5% in the second quarter. Tower Research Capital LLC TRC now owns 3,212 shares of the company’s stock worth $109,000 after buying an additional 2,519 shares during the period. Mason Street Advisors LLC acquired a new stake in shares of Opus Bank during the second quarter worth about $125,000. Cutler Group LP acquired a new stake in shares of Opus Bank during the second quarter worth about $169,000. Creative Planning acquired a new stake in shares of Opus Bank during the second quarter worth about $199,000. Finally, BNP Paribas Arbitrage SA acquired a new stake in shares of Opus Bank during the second quarter worth about $201,000. 93.90% of the stock is owned by institutional investors and hedge funds.
Opus Bank Company Profile
Opus Bank is a California-chartered commercial bank. The Company provides relationship-based banking products, services and solutions to small and mid-sized companies, entrepreneurs, real estate investors, professionals and individuals. It is organized into four lines of business: commercial banking operations, which is referred to as Commercial Bank; retail banking operations, which is referred to as Retail Bank; merchant banking operations, which is referred to as Merchant Bank and correspondent banking operations, which is referred to as Correspondent Bank.
Receive News & Stock 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 stocks with our FREE daily email newsletter.