Opus Bank (NASDAQ:OPB) – Research analysts at FIG Partners raised their FY2018 earnings estimates for shares of Opus Bank in a research note issued on Wednesday, according to Zacks Investment Research. FIG Partners analyst T. Coffey now forecasts that the financial services provider will post earnings per share of $2.04 for the year, up from their prior forecast of $1.79. FIG Partners has a “Outperform” rating and a $32.00 price target on the stock.
Opus Bank (NASDAQ:OPB) last released its quarterly earnings results on Monday, October 23rd. The financial services provider reported $0.54 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.20. The business had revenue of $68.20 million during the quarter, compared to analysts’ expectations of $70.45 million. Opus Bank had a return on equity of 3.11% and a net margin of 8.30%. The company’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.09) earnings per share.
Other research analysts have also recently issued research reports about the company. TheStreet upgraded Opus Bank from a “c+” rating to a “b-” rating in a research report on Wednesday, October 25th. Zacks Investment Research upgraded Opus Bank from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research report on Wednesday. Piper Jaffray Companies reiterated a “buy” rating and issued a $30.00 price objective on shares of Opus Bank in a research report on Tuesday, January 9th. ValuEngine upgraded Opus Bank from a “sell” rating to a “hold” rating in a research report on Wednesday, September 27th. Finally, BidaskClub cut Opus Bank from a “hold” rating to a “sell” rating in a research report on Friday, December 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $29.60.
Opus Bank (OPB) opened at $29.20 on Friday. The stock has a market capitalization of $988.86, a price-to-earnings ratio of 42.94 and a beta of 1.15. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.90 and a quick ratio of 0.90. Opus Bank has a 52-week low of $18.45 and a 52-week high of $29.35.
A number of institutional investors have recently bought and sold shares of the business. California Public Employees Retirement System grew its holdings in Opus Bank by 28.6% in the third quarter. California Public Employees Retirement System now owns 32,022 shares of the financial services provider’s stock valued at $769,000 after purchasing an additional 7,122 shares during the last quarter. Continental Advisors LLC grew its holdings in Opus Bank by 70.7% in the third quarter. Continental Advisors LLC now owns 184,641 shares of the financial services provider’s stock valued at $4,431,000 after purchasing an additional 76,451 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in Opus Bank in the third quarter valued at $420,000. Dimensional Fund Advisors LP grew its holdings in Opus Bank by 19.5% in the third quarter. Dimensional Fund Advisors LP now owns 1,327,792 shares of the financial services provider’s stock valued at $31,867,000 after purchasing an additional 216,891 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in Opus Bank by 5.3% in the third quarter. Schwab Charles Investment Management Inc. now owns 76,347 shares of the financial services provider’s stock valued at $1,833,000 after purchasing an additional 3,847 shares during the last quarter. 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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