Opus Bank (NASDAQ:OPB) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Wednesday, BidAskClub reports.
Other analysts have also issued reports about the company. ValuEngine lowered Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Zacks Investment Research lowered ExlService from a “hold” rating to a “sell” rating in a report on Wednesday, July 10th. Three analysts have rated the stock with a sell rating and one has assigned a hold rating to the company’s stock. Opus Bank currently has a consensus rating of “Sell” and an average price target of $20.00.
Shares of OPB traded up $0.10 during trading hours on Wednesday, hitting $20.81. 158,773 shares of the company were exchanged, compared to its average volume of 132,660. The stock has a market capitalization of $709.86 million, a P/E ratio of 16.26 and a beta of 1.25. Opus Bank has a fifty-two week low of $17.79 and a fifty-two week high of $30.00. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.45. The business’s fifty day simple moving average is $20.85.
Opus Bank (NASDAQ:OPB) last released its earnings results on Monday, April 29th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.01). The company had revenue of $61.90 million for the quarter, compared to analyst estimates of $62.55 million. Opus Bank had a return on equity of 4.71% and a net margin of 9.89%. During the same period last year, the company posted $0.34 earnings per share. Analysts expect that Opus Bank will post 1.32 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in OPB. BlackRock Inc. boosted its stake in Opus Bank by 4.6% in the fourth quarter. BlackRock Inc. now owns 3,251,017 shares of the financial services provider’s stock valued at $63,688,000 after buying an additional 143,254 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Opus Bank by 7.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,500,420 shares of the financial services provider’s stock valued at $48,983,000 after buying an additional 172,485 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Opus Bank by 28.4% in the fourth quarter. Bank of New York Mellon Corp now owns 327,216 shares of the financial services provider’s stock valued at $6,410,000 after buying an additional 72,473 shares in the last quarter. Castine Capital Management LLC acquired a new stake in Opus Bank in the first quarter valued at about $5,698,000. Finally, Northern Trust Corp boosted its stake in Opus Bank by 0.3% in the fourth quarter. Northern Trust Corp now owns 265,542 shares of the financial services provider’s stock valued at $5,201,000 after buying an additional 887 shares in the last quarter. 97.02% of the stock is currently owned by institutional investors.
About Opus Bank
Opus Bank provides various banking products, services, and solutions for small and mid-sized companies, entrepreneurs, real estate investors, professionals, and high net worth individuals. The company accepts demand deposits, checking accounts, money market accounts, savings accounts, and certificates of deposit.
Recommended Story: How to use beta for portfolio diversification
Receive News & Ratings for Opus Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Opus Bank and related companies with MarketBeat.com's FREE daily email newsletter.