Opus Bank (OPB) Cut to Hold at BidaskClub

BidaskClub downgraded shares of Opus Bank (NASDAQ:OPB) from a buy rating to a hold rating in a research report released on Thursday.

Several other brokerages have also commented on OPB. Piper Jaffray lowered Opus Bank from an overweight rating to a neutral rating in a report on Tuesday, January 23rd. Keefe, Bruyette & Woods reissued a hold rating and set a $31.00 price objective on shares of Opus Bank in a report on Tuesday, February 27th. Zacks Investment Research lowered Opus Bank from a buy rating to a sell rating in a report on Wednesday, February 28th. Hovde Group set a $30.00 price objective on Opus Bank and gave the stock a hold rating in a report on Friday, April 6th. Finally, ValuEngine raised Opus Bank from a hold rating to a buy rating in a report on Friday, February 2nd. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Opus Bank presently has a consensus rating of Hold and a consensus target price of $30.80.

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Shares of NASDAQ OPB traded up $0.20 during midday trading on Thursday, hitting $28.40. 36,193 shares of the company’s stock were exchanged, compared to its average volume of 192,809. Opus Bank has a 12-month low of $20.15 and a 12-month high of $30.95. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $946.02, a price-to-earnings ratio of 17.69 and a beta of 0.94.

Opus Bank (NASDAQ:OPB) last issued its quarterly earnings data on Monday, January 22nd. The financial services provider reported $0.26 EPS 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 business had revenue of $64.60 million for the quarter, compared to analysts’ expectations of $67.30 million. During the same period in the previous year, the firm posted ($0.55) EPS. The firm’s revenue for the quarter was down 25.8% compared to the same quarter last year. analysts predict that Opus Bank will post 1.92 earnings per share for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Bank of Montreal Can boosted its stake in Opus Bank by 21.1% in the fourth quarter. Bank of Montreal Can now owns 10,102 shares of the financial services provider’s stock worth $276,000 after buying an additional 1,762 shares in the last quarter. Geode Capital Management LLC boosted its stake in Opus Bank by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 177,399 shares of the financial services provider’s stock worth $4,842,000 after buying an additional 3,205 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake 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 worth $1,833,000 after buying an additional 3,847 shares in the last quarter. Hilton Capital Management LLC boosted its stake in Opus Bank by 32.4% in the fourth quarter. Hilton Capital Management LLC now owns 19,295 shares of the financial services provider’s stock worth $527,000 after buying an additional 4,720 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its stake in Opus Bank by 21.6% in the fourth quarter. Alliancebernstein L.P. now owns 29,790 shares of the financial services provider’s stock worth $813,000 after buying an additional 5,290 shares in the last quarter. 98.10% of the stock is owned by institutional investors and hedge funds.

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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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