Wells Fargo & Company MN increased its position in Opus Bank (NASDAQ:OPB) by 50.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 328,566 shares of the company’s stock after buying an additional 110,696 shares during the period. Wells Fargo & Company MN owned approximately 0.96% of Opus Bank worth $11,622,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of OPB. JPMorgan Chase & Co. increased its position in Opus Bank by 5.5% in the first quarter. JPMorgan Chase & Co. now owns 23,476 shares of the company’s stock valued at $798,000 after buying an additional 1,229 shares in the last quarter. Barclays PLC purchased a new position in Opus Bank during the first quarter valued at about $303,000. BNP Paribas Arbitrage SA purchased a new position in Opus Bank during the second quarter valued at about $201,000. Creative Planning purchased a new position in Opus Bank during the second quarter valued at about $199,000. Finally, Cutler Group LP purchased a new position in Opus Bank during the second quarter valued at about $169,000. 93.96% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Opus Bank (NASDAQ:OPB)

Opus Bank (NASDAQ:OPB) traded up 2.03% during mid-day trading on Wednesday, reaching $25.10. 91,812 shares of the company’s stock were exchanged. The stock has a market cap of $810.18 million, a price-to-earnings ratio of 18.47 and a beta of 0.87. The stock has a 50-day moving average of $24.32 and a 200-day moving average of $32.24. Opus Bank has a one year low of $18.20 and a one year high of $41.04.

Opus Bank (NASDAQ:OPB) last posted its earnings results on Monday, October 24th. The company reported $0.50 earnings per share for the quarter, missing the Zacks’ consensus estimate 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 research analysts anticipate that Opus Bank will post $1.30 earnings per share for the current year.

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

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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