Summit Global Investments Acquires New Position in Opus Bank (OPB)
Summit Global Investments acquired a new position in Opus Bank (NASDAQ:OPB) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 22,600 shares of the financial services provider’s stock, valued at approximately $649,000. Summit Global Investments owned 0.07% of Opus Bank as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in OPB. Piedmont Investment Advisors LLC bought a new position in shares of Opus Bank in the second quarter worth about $117,000. UBS Group AG boosted its stake in shares of Opus Bank by 186.0% in the first quarter. UBS Group AG now owns 5,832 shares of the financial services provider’s stock worth $163,000 after acquiring an additional 3,793 shares during the period. FDx Advisors Inc. bought a new position in shares of Opus Bank in the second quarter worth about $222,000. Stevens Capital Management LP bought a new position in shares of Opus Bank in the second quarter worth about $276,000. Finally, KBC Group NV bought a new position in shares of Opus Bank in the first quarter worth about $277,000. 98.04% of the stock is owned by hedge funds and other institutional investors.
NASDAQ:OPB opened at $28.10 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $958.01 million, a P/E ratio of 18.86 and a beta of 0.92. Opus Bank has a 12 month low of $21.06 and a 12 month high of $30.95.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 16th. Investors of record on Thursday, August 2nd were given a $0.11 dividend. The ex-dividend date of this dividend was Wednesday, August 1st. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.57%. Opus Bank’s dividend payout ratio is currently 29.53%.
OPB has been the subject of a number of recent analyst reports. BidaskClub raised Opus Bank from a “hold” rating to a “buy” rating in a research note on Wednesday, August 15th. ValuEngine raised Opus Bank from a “hold” rating to a “buy” rating in a research note on Tuesday, July 10th. Zacks Investment Research raised Opus Bank from a “sell” rating to a “hold” rating in a research note on Thursday, July 26th. Finally, FIG Partners lowered Opus Bank from an “outperform” rating to a “market-perform” rating in a research note on Monday, July 23rd. Six equities research analysts have rated the stock with a hold rating, Opus Bank currently has a consensus rating of “Hold” and an average price target of $30.80.
Opus Bank Profile
Opus Bank provides various banking products, services, and solutions for small to mid-sized companies, entrepreneurs, real estate investors, professionals, and high net worth individuals. It offers demand deposits, checking accounts, money market accounts, savings accounts, and certificates of deposit.
Read More: Calculate Your Return on Investment (ROI)
Receive News & Ratings for Opus Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Opus Bank and related companies with MarketBeat.com's FREE daily email newsletter.