Opus Bank (OPB) Stock Rating Upgraded by ValuEngine
Opus Bank (NASDAQ:OPB) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a research note issued on Wednesday.
A number of other equities research analysts have also recently commented on the stock. Keefe, Bruyette & Woods restated a “hold” rating and set a $24.00 target price on shares of Opus Bank in a research note on Tuesday, August 29th. TheStreet cut shares of Opus Bank from a “b-” rating to a “c+” rating in a research note on Wednesday, August 23rd. BidaskClub cut shares of Opus Bank from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th. Zacks Investment Research upgraded shares of Opus Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. Finally, Piper Jaffray Companies restated a “buy” rating and set a $27.00 target price on shares of Opus Bank in a research note on Wednesday, July 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. Opus Bank has a consensus rating of “Hold” and a consensus target price of $27.33.
Shares of Opus Bank (NASDAQ OPB) traded up 2.78% during trading on Wednesday, reaching $24.00. 284,385 shares of the company traded hands. The company’s 50-day moving average price is $22.68 and its 200-day moving average price is $22.14. The company has a market capitalization of $897.34 million, a P/E ratio of 224.30 and a beta of 1.08. Opus Bank has a 52 week low of $18.20 and a 52 week high of $35.56.
Opus Bank (NASDAQ:OPB) last released its earnings results on Monday, July 24th. The financial services provider reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.22. Opus Bank had a net margin of 1.15% and a return on equity of 2.76%. The company had revenue of $79.83 million for the quarter, compared to analysts’ expectations of $71.47 million. The business’s revenue was down 49.3% on a year-over-year basis. Equities research analysts forecast that Opus Bank will post $1.41 EPS for the current fiscal year.
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A number of institutional investors and hedge funds have recently made changes to their positions in OPB. UBS Group AG grew its holdings 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 valued at $100,000 after buying an additional 941 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in Opus Bank by 66.9% during 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 in the last quarter. Bank of Montreal Can grew its holdings in Opus Bank by 262.1% during the 1st quarter. Bank of Montreal Can now owns 8,340 shares of the financial services provider’s stock valued at $168,000 after buying an additional 6,037 shares in the last quarter. New York State Teachers Retirement System grew its holdings in Opus Bank by 6.3% during the 1st quarter. New York State Teachers Retirement System now owns 8,459 shares of the financial services provider’s stock valued at $170,000 after buying an additional 500 shares in the last quarter. Finally, Voya Investment Management LLC purchased a new stake in Opus Bank during the 2nd quarter valued at approximately $209,000. 91.73% of the stock is owned by institutional investors and hedge funds.
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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