Principal Financial Group Inc. cut its stake in Opus Bank (NASDAQ:OPB) by 7.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 138,175 shares of the financial services provider’s stock after selling 10,603 shares during the period. Principal Financial Group Inc. owned approximately 0.37% of Opus Bank worth $3,344,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Elliott Management Corp raised its holdings in Opus Bank by 7.3% in the 1st quarter. Elliott Management Corp now owns 5,419,153 shares of the financial services provider’s stock valued at $109,196,000 after acquiring an additional 367,874 shares in the last quarter. Mendon Capital Advisors Corp raised its holdings in Opus Bank by 31.9% in the 1st quarter. Mendon Capital Advisors Corp now owns 1,228,420 shares of the financial services provider’s stock valued at $24,753,000 after acquiring an additional 297,000 shares in the last quarter. State Street Corp raised its holdings in Opus Bank by 83.8% in the 1st quarter. State Street Corp now owns 1,205,354 shares of the financial services provider’s stock valued at $24,289,000 after acquiring an additional 549,567 shares in the last quarter. Vanguard Group Inc. raised its holdings in Opus Bank by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 904,898 shares of the financial services provider’s stock valued at $18,233,000 after acquiring an additional 24,348 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Opus Bank by 7.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 789,587 shares of the financial services provider’s stock valued at $15,910,000 after acquiring an additional 54,110 shares in the last quarter. 91.73% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have recently issued reports on the company. Zacks Investment Research upgraded Opus Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. ValuEngine upgraded Opus Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, September 27th. TheStreet lowered Opus Bank from a “b-” rating to a “c+” rating in a research note on Wednesday, August 23rd. BidaskClub lowered Opus Bank from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued 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 issued a hold rating and one has assigned a buy rating to the company’s stock. Opus Bank currently has an average rating of “Hold” and a consensus target price of $27.33.

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Opus Bank (NASDAQ:OPB) opened at 24.30 on Friday. The stock has a 50 day moving average price of $22.75 and a 200 day moving average price of $22.40. The company has a market cap of $908.55 million, a price-to-earnings ratio of 227.10 and a beta of 1.10. Opus Bank has a 52 week low of $18.20 and a 52 week high of $35.56.

Opus Bank (NASDAQ:OPB) last issued its quarterly earnings data on Monday, July 24th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping the Zacks’ 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 company had revenue of $79.83 million for the quarter, compared to the consensus estimate of $71.47 million. The company’s revenue for the quarter was down 49.3% compared to the same quarter last year. On average, equities analysts forecast that Opus Bank will post $1.42 earnings per share for the current year.

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

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