Opus Bank (NASDAQ:OPB)‘s stock had its “buy” rating reissued by equities researchers at Piper Jaffray Companies in a research note issued on Friday. They presently have a $27.00 price target on the financial services provider’s stock. Piper Jaffray Companies’ price objective would indicate a potential upside of 10.66% from the company’s current price.

Several other equities analysts have also issued reports on OPB. Zacks Investment Research lowered Opus Bank from a “hold” rating to a “sell” rating in a research note on Saturday, July 8th. BidaskClub lowered Opus Bank from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. TheStreet upgraded Opus Bank from a “c” rating to a “b-” rating in a research note on Thursday, July 13th. ValuEngine upgraded Opus Bank from a “sell” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $24.00 price target on shares of Opus Bank in a research note on Tuesday, August 29th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $27.33.

Shares of Opus Bank (NASDAQ:OPB) traded up 0.41% during midday trading on Friday, reaching $24.40. The company’s stock had a trading volume of 195,997 shares. The stock’s 50-day moving average is $22.75 and its 200 day moving average is $22.40. Opus Bank has a 12 month low of $18.20 and a 12 month high of $35.56. The stock has a market capitalization of $912.29 million, a P/E ratio of 228.04 and a beta of 1.10.

Opus Bank (NASDAQ:OPB) last issued its quarterly earnings results on Monday, July 24th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.22. Opus Bank had a return on equity of 2.76% and a net margin of 1.15%. The firm had revenue of $79.83 million for the quarter, compared to analyst estimates of $71.47 million. Opus Bank’s quarterly revenue was down 49.3% compared to the same quarter last year. On average, analysts expect that Opus Bank will post $1.42 earnings per share for the current fiscal year.

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Several hedge funds have recently added to or reduced their stakes in the company. Texas Permanent School Fund grew its stake in shares of Opus Bank by 0.8% in the 2nd quarter. Texas Permanent School Fund now owns 13,263 shares of the financial services provider’s stock valued at $321,000 after purchasing an additional 111 shares during the period. New York State Common Retirement Fund grew its stake in shares of Opus Bank by 1.1% in the 2nd quarter. New York State Common Retirement Fund now owns 22,200 shares of the financial services provider’s stock valued at $537,000 after purchasing an additional 252 shares during the period. Clearbridge Investments LLC grew its stake in shares of Opus Bank by 1.8% in the 1st quarter. Clearbridge Investments LLC now owns 15,494 shares of the financial services provider’s stock valued at $312,000 after purchasing an additional 277 shares during the period. New York State Teachers Retirement System grew its stake in shares of Opus Bank by 6.3% in 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 purchasing an additional 500 shares during the period. Finally, Wells Fargo & Company MN grew its stake in shares of Opus Bank by 0.7% in the 1st quarter. Wells Fargo & Company MN now owns 102,544 shares of the financial services provider’s stock valued at $2,067,000 after purchasing an additional 711 shares during the period. Institutional investors own 91.73% of the company’s stock.

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.

Analyst Recommendations for Opus Bank (NASDAQ:OPB)

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