Opus Bank (NASDAQ:OPB) saw a large decrease in short interest in October. As of October 31st, there was short interest totalling 620,789 shares, a decrease of 39.9% from the October 14th total of 1,032,866 shares. Approximately 2.7% of the company’s stock are short sold. Based on an average daily volume of 902,748 shares, the days-to-cover ratio is currently 0.7 days.

A number of equities analysts have recently issued reports on OPB shares. Sandler O’Neill cut shares of Opus Bank from a “buy” rating to a “hold” rating in a research report on Thursday, October 20th. Credit Suisse Group AG cut shares of Opus Bank from an “outperform” rating to a “neutral” rating in a research report on Monday, October 17th. JMP Securities started coverage on shares of Opus Bank in a research report on Friday, September 16th. They set a “market perform” rating on the stock. Keefe, Bruyette & Woods cut shares of Opus Bank from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $40.00 to $25.00 in a research report on Tuesday, October 25th. Finally, TheStreet cut shares of Opus Bank from a “buy” rating to a “hold” rating in a research report on Wednesday, October 19th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. Opus Bank currently has a consensus rating of “Hold” and a consensus price target of $38.40.

Several institutional investors have recently added to or reduced their stakes in OPB. M&T Bank Corp boosted its position in Opus Bank by 0.5% in the third quarter. M&T Bank Corp now owns 15,313 shares of the company’s stock worth $542,000 after buying an additional 73 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its position in Opus Bank by 2.2% in the third quarter. Municipal Employees Retirement System of Michigan now owns 4,180 shares of the company’s stock worth $148,000 after buying an additional 90 shares during the last quarter. California State Teachers Retirement System boosted its position in Opus Bank by 1.1% in the third quarter. California State Teachers Retirement System now owns 36,373 shares of the company’s stock worth $1,287,000 after buying an additional 400 shares during the last quarter. US Bancorp DE boosted its position in Opus Bank by 2.9% in the third quarter. US Bancorp DE now owns 25,251 shares of the company’s stock worth $893,000 after buying an additional 721 shares during the last quarter. Finally, Great West Life Assurance Co. Can boosted its position in Opus Bank by 4.0% in the third quarter. Great West Life Assurance Co. Can now owns 23,980 shares of the company’s stock worth $847,000 after buying an additional 918 shares during the last quarter. Hedge funds and other institutional investors own 93.80% of the company’s stock.

Opus Bank (NASDAQ:OPB) opened at 23.00 on Friday. Opus Bank has a 12 month low of $18.20 and a 12 month high of $41.04. The company has a market cap of $788.39 million, a PE ratio of 18.43 and a beta of 0.87. The company has a 50-day moving average of $27.62 and a 200 day moving average of $33.10.

Opus Bank (NASDAQ:OPB) last released its quarterly earnings data on Monday, October 24th. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by $0.11. Opus Bank had a net margin of 15.20% and a return on equity of 7.39%. On average, equities analysts forecast that Opus Bank will post $1.30 earnings per share for the current fiscal year.

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.

5 Day Chart for NASDAQ:OPB

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