Ameriprise Financial Inc. Trims Position in Opus Bank (OPB)
Ameriprise Financial Inc. lessened its holdings in Opus Bank (NASDAQ:OPB) by 2.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 806,730 shares of the financial services provider’s stock after selling 21,684 shares during the period. Ameriprise Financial Inc. owned approximately 2.16% of Opus Bank worth $19,522,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in OPB. Teachers Advisors LLC grew its position in Opus Bank by 12.4% in the second quarter. Teachers Advisors LLC now owns 71,027 shares of the financial services provider’s stock worth $1,719,000 after acquiring an additional 7,808 shares in the last quarter. Alliancebernstein L.P. increased its stake in Opus Bank by 75.7% during the second quarter. Alliancebernstein L.P. now owns 38,487 shares of the financial services provider’s stock worth $931,000 after acquiring an additional 16,587 shares during the last quarter. Westpac Banking Corp bought a new stake in Opus Bank during the second quarter worth approximately $338,000. Eagle Boston Investment Management Inc. increased its stake in Opus Bank by 5.7% during the second quarter. Eagle Boston Investment Management Inc. now owns 358,879 shares of the financial services provider’s stock worth $8,684,000 after acquiring an additional 19,258 shares during the last quarter. Finally, Brighton Jones LLC bought a new stake in Opus Bank during the second quarter worth approximately $649,000. Institutional investors own 91.73% of the company’s stock.
A number of equities research analysts have issued reports on the company. Piper Jaffray Companies restated a “buy” rating and set a $27.00 price objective on shares of Opus Bank in a research report on Wednesday, July 12th. BidaskClub cut Opus Bank from a “sell” rating to a “strong sell” rating in a report on Saturday, August 12th. Zacks Investment Research upgraded Opus Bank from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 28th. TheStreet upgraded Opus Bank from a “c” rating to a “b-” rating in a report on Thursday, July 13th. Finally, ValuEngine raised Opus Bank from a “sell” rating to a “hold” rating in a research report on Wednesday, September 27th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. Opus Bank currently has an average rating of “Hold” and an average target price of $27.33.
Opus Bank (NASDAQ:OPB) opened at 24.00 on Monday. The stock has a market capitalization of $897.34 million, a PE ratio of 224.30 and a beta of 1.09. The company’s 50 day moving average is $22.68 and its 200-day moving average is $22.14. Opus Bank has a 1-year low of $18.20 and a 1-year high of $35.56.
Opus Bank (NASDAQ:OPB) last issued its earnings results on Monday, July 24th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.22. Opus Bank had a return on equity of 2.76% and a net margin of 1.15%. The business had revenue of $79.83 million during the quarter, compared to the consensus estimate of $71.47 million. Opus Bank’s revenue for the quarter was down 49.3% compared to the same quarter last year. Analysts forecast that Opus Bank will post $1.42 earnings per share for the current fiscal year.
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About Opus Bank
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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