Piper Jaffray Companies reaffirmed their buy rating on shares of Opus Bank (NASDAQ:OPB) in a report released on Tuesday morning. They currently have a $30.00 price objective on the financial services provider’s stock.
Several other research firms have also issued reports on OPB. FIG Partners initiated coverage on shares of Opus Bank in a research report on Thursday, November 9th. They issued an outperform rating and a $32.00 price target on the stock. BidaskClub raised shares of Opus Bank from a strong sell rating to a sell rating in a research report on Thursday, October 26th. ValuEngine raised shares of Opus Bank from a sell rating to a hold rating in a research report on Wednesday, September 27th. Finally, TheStreet raised shares of Opus Bank from a c+ rating to a b- rating in a research report on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. Opus Bank currently has a consensus rating of Hold and a consensus target price of $29.60.
Shares of Opus Bank (OPB) traded up $0.30 during mid-day trading on Tuesday, reaching $28.55. 109,600 shares of the company’s stock traded hands, compared to its average volume of 173,914. The company has a market capitalization of $926.38, a price-to-earnings ratio of 41.38 and a beta of 1.15. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.14. Opus Bank has a twelve month low of $18.45 and a twelve month high of $29.63.
Opus Bank (NASDAQ:OPB) last announced its quarterly earnings data on Monday, October 23rd. The financial services provider reported $0.54 EPS for the quarter, topping the consensus estimate of $0.34 by $0.20. The business had revenue of $68.20 million for the quarter, compared to analyst estimates of $70.45 million. Opus Bank had a net margin of 8.30% and a return on equity of 3.11%. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.09) earnings per share. analysts expect that Opus Bank will post 1.57 earnings per share for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA raised its position in shares of Opus Bank by 66.9% in the second quarter. BNP Paribas Arbitrage SA now owns 5,508 shares of the financial services provider’s stock valued at $133,000 after purchasing an additional 2,208 shares during the period. Municipal Employees Retirement System of Michigan raised its position in shares of Opus Bank by 59.0% in the third quarter. Municipal Employees Retirement System of Michigan now owns 6,820 shares of the financial services provider’s stock valued at $164,000 after purchasing an additional 2,530 shares during the period. Voya Investment Management LLC purchased a new position in Opus Bank during the second quarter valued at approximately $209,000. Bbva Compass Bancshares Inc. purchased a new position in Opus Bank during the third quarter valued at approximately $220,000. Finally, Arizona State Retirement System purchased a new position in Opus Bank during the second quarter valued at approximately $230,000. 98.45% of the stock is currently owned by institutional investors.
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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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