Opus Bank (OPB) Expected to Post Earnings of $0.36 Per Share

Equities research analysts expect Opus Bank (NASDAQ:OPB) to announce earnings per share (EPS) of $0.36 for the current quarter, Zacks reports. Two analysts have provided estimates for Opus Bank’s earnings, with estimates ranging from $0.32 to $0.39. Opus Bank reported earnings of $0.55 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 34.5%. The business is scheduled to announce its next earnings results before the market opens on Monday, October 22nd.

According to Zacks, analysts expect that Opus Bank will report full year earnings of $1.47 per share for the current financial year, with EPS estimates ranging from $1.39 to $1.55. For the next financial year, analysts forecast that the business will report earnings of $1.98 per share, with EPS estimates ranging from $1.85 to $2.11. Zacks’ EPS averages are a mean average based on a survey of analysts that cover Opus Bank.

Opus Bank (NASDAQ:OPB) last announced its quarterly earnings data on Monday, July 23rd. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.06. The company had revenue of $62.45 million for the quarter, compared to analysts’ expectations of $68.65 million. Opus Bank had a net margin of 16.83% and a return on equity of 5.96%. During the same quarter in the previous year, the company posted $0.21 EPS.

Several brokerages have recently issued reports on OPB. ValuEngine raised shares of Opus Bank from a “hold” rating to a “buy” rating in a research note on Tuesday, July 10th. BidaskClub raised shares of Opus Bank from a “hold” rating to a “buy” rating in a research note on Friday, June 22nd. FIG Partners cut shares of Opus Bank from an “outperform” rating to a “market-perform” rating in a research note on Monday, July 23rd. Finally, Zacks Investment Research raised shares of Opus Bank from a “sell” rating to a “hold” rating in a research note on Thursday, July 26th. Six investment analysts have rated the stock with a hold rating, The stock presently has an average rating of “Hold” and an average price target of $30.80.

Several institutional investors and hedge funds have recently made changes to their positions in OPB. Piedmont Investment Advisors LLC acquired a new position in shares of Opus Bank in the second quarter worth about $117,000. UBS Group AG boosted its holdings in shares of Opus Bank by 186.0% in the first quarter. UBS Group AG now owns 5,832 shares of the financial services provider’s stock worth $163,000 after buying an additional 3,793 shares during the period. Teton Advisors Inc. acquired a new position in shares of Opus Bank in the second quarter worth about $215,000. FDx Advisors Inc. acquired a new position in shares of Opus Bank in the second quarter worth about $222,000. Finally, United Services Automobile Association acquired a new position in shares of Opus Bank in the second quarter worth about $227,000. Institutional investors own 97.83% of the company’s stock.

Shares of OPB traded down $0.60 during mid-day trading on Friday, hitting $24.84. The company’s stock had a trading volume of 6,090 shares, compared to its average volume of 166,924. The stock has a market capitalization of $898.03 million, a P/E ratio of 16.68 and a beta of 0.92. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.92 and a quick ratio of 0.92. Opus Bank has a fifty-two week low of $24.00 and a fifty-two week high of $30.95.

Opus Bank Company Profile

Opus Bank provides various banking products, services, and solutions for small to mid-sized companies, entrepreneurs, real estate investors, professionals, and high net worth individuals. It offers demand deposits, checking accounts, money market accounts, savings accounts, and certificates of deposit.

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