Zacks Investment Research upgraded shares of Opus Bank (NASDAQ:OPB) from a sell rating to a strong-buy rating in a research report sent to investors on Friday morning, Zacks.com reports. The firm currently has $26.00 price target on the financial services provider’s stock.
According to Zacks, “Opus Bank is a state-charted commercial bank. The Bank accepts deposits, loans, and provides other services for the public. It provides relationship-based banking products, services and loan products for small to mid-sized commercial businesses, entrepreneurs, real estate investors, professionals and consumers. Opus Bank is headquartered in Irvine, California. “
OPB has been the subject of several other reports. ValuEngine upgraded Opus Bank from a sell rating to a hold rating in a report on Monday, July 29th. BidaskClub upgraded Opus Bank from a sell rating to a hold rating in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company’s stock. Opus Bank has an average rating of Buy and a consensus price target of $23.00.
Shares of OPB traded down $0.41 during mid-day trading on Friday, reaching $21.35. The company’s stock had a trading volume of 85,123 shares, compared to its average volume of 112,126. The company has a fifty day moving average price of $21.25. The company has a market cap of $768.13 million, a P/E ratio of 16.68 and a beta of 1.27. Opus Bank has a 1 year low of $17.79 and a 1 year high of $29.50. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.96 and a current ratio of 0.98.
Opus Bank (NASDAQ:OPB) last released its earnings results on Monday, July 29th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.03. Opus Bank had a return on equity of 4.47% and a net margin of 7.32%. The company had revenue of $62.51 million during the quarter, compared to analyst estimates of $63.80 million. During the same quarter in the prior year, the company earned $0.40 earnings per share. Sell-side analysts predict that Opus Bank will post 1.39 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 2.06%. The ex-dividend date is Wednesday, August 7th. Opus Bank’s payout ratio is 34.38%.
A number of institutional investors have recently bought and sold shares of OPB. SG Americas Securities LLC grew its position in shares of Opus Bank by 21.1% in the first quarter. SG Americas Securities LLC now owns 27,837 shares of the financial services provider’s stock valued at $551,000 after purchasing an additional 4,857 shares during the last quarter. Castine Capital Management LLC bought a new stake in shares of Opus Bank in the first quarter valued at about $5,698,000. Geode Capital Management LLC lifted its stake in shares of Opus Bank by 16.9% in the fourth quarter. Geode Capital Management LLC now owns 254,402 shares of the financial services provider’s stock valued at $4,983,000 after buying an additional 36,769 shares during the period. California Public Employees Retirement System lifted its stake in shares of Opus Bank by 12.3% in the fourth quarter. California Public Employees Retirement System now owns 22,255 shares of the financial services provider’s stock valued at $436,000 after buying an additional 2,444 shares during the period. Finally, Squarepoint Ops LLC bought a new stake in shares of Opus Bank in the fourth quarter valued at about $318,000. 96.21% of the stock is currently owned by hedge funds and other institutional investors.
Opus Bank Company Profile
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.
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