Opus Bank (NASDAQ:OPB) has received an average recommendation of “Buy” from the seven research firms that are covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $29.00.
OPB has been the topic of a number of research analyst reports. TheStreet raised Opus Bank from a “c+” rating to a “b-” rating in a report on Wednesday, October 25th. Zacks Investment Research raised Opus Bank from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a report on Wednesday, January 10th. Piper Jaffray Companies reissued a “buy” rating and set a $30.00 price target on shares of Opus Bank in a report on Tuesday, January 9th. ValuEngine raised Opus Bank from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Finally, BidaskClub raised Opus Bank from a “sell” rating to a “hold” rating in a report on Monday, February 5th.
Hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its stake in Opus Bank by 416.9% during the third quarter. JPMorgan Chase & Co. now owns 44,455 shares of the financial services provider’s stock valued at $1,067,000 after buying an additional 35,855 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Opus Bank by 15.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 72,500 shares of the financial services provider’s stock valued at $1,755,000 after buying an additional 9,718 shares in the last quarter. Stevens Capital Management LP bought a new position in Opus Bank during the third quarter valued at about $585,000. Sei Investments Co. boosted its stake in Opus Bank by 10.3% during the third quarter. Sei Investments Co. now owns 42,615 shares of the financial services provider’s stock valued at $1,023,000 after buying an additional 3,980 shares in the last quarter. Finally, Convergence Investment Partners LLC bought a new position in Opus Bank during the fourth quarter valued at about $1,192,000. 99.88% of the stock is owned by institutional investors and hedge funds.
Shares of Opus Bank (OPB) traded down $0.15 during midday trading on Tuesday, reaching $28.25. The company’s stock had a trading volume of 117,700 shares, compared to its average volume of 207,176. Opus Bank has a 1 year low of $18.45 and a 1 year high of $29.90. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.90. The firm has a market capitalization of $973.44, a price-to-earnings ratio of 22.42 and a beta of 1.07.
Opus Bank (NASDAQ:OPB) last issued its earnings results on Monday, January 22nd. The financial services provider reported $0.26 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.14). Opus Bank had a return on equity of 5.98% and a net margin of 15.45%. The company had revenue of $64.60 million during the quarter, compared to analyst estimates of $67.30 million. During the same period in the prior year, the business earned ($0.55) earnings per share. Opus Bank’s quarterly revenue was down 25.8% on a year-over-year basis. equities research analysts predict that Opus Bank will post 1.92 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Thursday, February 1st were paid a dividend of $0.10 per share. The ex-dividend date was Wednesday, January 31st. This represents a $0.40 annualized dividend and a yield of 1.42%. Opus Bank’s dividend payout ratio is currently 31.75%.
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About Opus Bank
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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