Opus Bank (NASDAQ:OPB) – Equities researchers at FIG Partners lifted their Q3 2018 earnings estimates for Opus Bank in a report released on Wednesday, according to Zacks Investment Research. FIG Partners analyst T. Coffey now expects that the financial services provider will post earnings per share of $0.46 for the quarter, up from their previous forecast of $0.45. FIG Partners has a “Outperform” rating and a $32.00 price objective on the stock. FIG Partners also issued estimates for Opus Bank’s Q1 2019 earnings at $0.49 EPS, Q2 2019 earnings at $0.51 EPS, Q3 2019 earnings at $0.52 EPS and FY2019 earnings at $2.06 EPS.
Several other research firms also recently commented on OPB. TheStreet upgraded Opus Bank from a “c+” rating to a “b-” rating in a report on Wednesday, October 25th. BidaskClub upgraded Opus Bank from a “strong sell” rating to a “sell” rating in a report on Thursday, October 26th. Piper Jaffray Companies restated a “buy” rating and set a $27.00 price target on shares of Opus Bank in a report on Friday, October 6th. ValuEngine upgraded Opus Bank from a “sell” rating to a “hold” rating in a report on Wednesday, September 27th. Finally, Zacks Investment Research upgraded Opus Bank from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. Opus Bank currently has a consensus rating of “Hold” and a consensus price target of $28.50.
Shares of Opus Bank (NASDAQ:OPB) traded down $0.10 during mid-day trading on Friday, reaching $27.70. The company’s stock had a trading volume of 454,707 shares, compared to its average volume of 268,757. The company has a market capitalization of $952.87, a price-to-earnings ratio of 37.07 and a beta of 1.15. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.92 and a current ratio of 0.90. Opus Bank has a 52-week low of $18.45 and a 52-week high of $30.60.
Opus Bank (NASDAQ:OPB) last issued its quarterly earnings results on Monday, October 23rd. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.20. Opus Bank had a return on equity of 3.11% and a net margin of 8.30%. The firm had revenue of $68.20 million during the quarter, compared to analyst estimates of $70.45 million. During the same quarter in the previous year, the company posted ($0.09) earnings per share. The company’s revenue was down 3.7% compared to the same quarter last year.
A number of institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its position in Opus Bank by 19.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,327,792 shares of the financial services provider’s stock valued at $31,867,000 after acquiring an additional 216,891 shares in the last quarter. State Street Corp boosted its position in Opus Bank by 83.8% during 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. boosted its position in shares of Opus Bank by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 904,898 shares of the financial services provider’s stock worth $18,233,000 after purchasing an additional 24,348 shares in the last quarter. Royal Bank of Canada boosted its position in shares of Opus Bank by 0.5% in the 2nd quarter. Royal Bank of Canada now owns 738,732 shares of the financial services provider’s stock worth $17,877,000 after purchasing an additional 3,554 shares in the last quarter. Finally, Emerald Advisers Inc. PA boosted its position in shares of Opus Bank by 5.4% in the 3rd quarter. Emerald Advisers Inc. PA now owns 642,671 shares of the financial services provider’s stock worth $15,424,000 after purchasing an additional 32,939 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.
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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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