Jacobs Asset Management LLC trimmed its position in Opus Bank (NASDAQ:OPB) by 28.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 320,042 shares of the financial services provider’s stock after selling 129,958 shares during the period. Opus Bank comprises 1.5% of Jacobs Asset Management LLC’s portfolio, making the stock its 28th biggest holding. Jacobs Asset Management LLC owned about 0.93% of Opus Bank worth $7,681,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in OPB. UBS Group AG lifted its holdings in Opus Bank by 23.4% in the 1st quarter. UBS Group AG now owns 4,969 shares of the financial services provider’s stock worth $100,000 after purchasing an additional 941 shares in the last quarter. BNP Paribas Arbitrage SA lifted its holdings in Opus Bank by 66.9% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,508 shares of the financial services provider’s stock worth $133,000 after purchasing an additional 2,208 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its stake in Opus Bank by 59.0% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 6,820 shares of the financial services provider’s stock worth $164,000 after acquiring an additional 2,530 shares during the last quarter. Voya Investment Management LLC bought a new stake in Opus Bank in the 2nd quarter worth approximately $209,000. Finally, Bbva Compass Bancshares Inc. bought a new stake in Opus Bank in the 3rd quarter worth approximately $220,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.
OPB has been the topic of several analyst reports. FIG Partners initiated coverage on Opus Bank in a research report on Thursday, November 9th. They set an “outperform” rating and a $32.00 target price on the stock. TheStreet raised Opus Bank from a “c+” rating to a “b-” rating in a research report on Wednesday, October 25th. BidaskClub raised Opus Bank from a “strong sell” rating to a “sell” rating in a research report on Thursday, October 26th. Piper Jaffray Companies reiterated a “buy” rating and issued a $27.00 target price on shares of Opus Bank in a report on Friday, October 6th. Finally, ValuEngine upgraded Opus Bank from a “sell” rating to a “hold” rating in a report on Wednesday, September 27th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $28.50.
Opus Bank (NASDAQ:OPB) opened at $27.70 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $918.60, a PE ratio of 35.73 and a beta of 1.15. Opus Bank has a 1-year low of $18.45 and a 1-year 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 analysts’ consensus estimates of $0.34 by $0.20. The company had revenue of $68.20 million for the quarter, compared to the consensus estimate of $70.45 million. Opus Bank had a return on equity of 3.11% and a net margin of 8.30%. Opus Bank’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.09) earnings per share. sell-side analysts anticipate that Opus Bank will post 1.57 EPS for the current fiscal year.
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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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