Equities analysts expect Opus Bank (NASDAQ:OPB) to announce $61.40 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Opus Bank’s earnings. The lowest sales estimate is $60.50 million and the highest is $62.30 million. Opus Bank posted sales of $53.81 million in the same quarter last year, which would indicate a positive year over year growth rate of 14.1%. The firm is scheduled to issue its next quarterly earnings results on Monday, January 27th.
On average, analysts expect that Opus Bank will report full-year sales of $249.40 million for the current financial year, with estimates ranging from $247.80 million to $251.00 million. For the next financial year, analysts expect that the firm will report sales of $249.60 million, with estimates ranging from $244.70 million to $254.50 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that that provide coverage for Opus Bank.
Opus Bank (NASDAQ:OPB) last announced its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.23. The company had revenue of $62.63 million for the quarter, compared to analyst estimates of $63.70 million. Opus Bank had a return on equity of 5.67% and a net margin of 11.12%. During the same quarter last year, the firm posted $0.25 EPS.
A number of brokerages have weighed in on OPB. Stephens began coverage on Opus Bank in a report on Wednesday. They issued an “overweight” rating and a $30.00 price objective on the stock. BidaskClub lowered Opus Bank from a “buy” rating to a “hold” rating in a report on Tuesday, December 3rd. ValuEngine lowered Opus Bank from a “hold” rating to a “sell” rating in a report on Monday, October 21st. Zacks Investment Research lowered Opus Bank from a “hold” rating to a “sell” rating in a report on Tuesday, October 15th. Finally, TheStreet upgraded Opus Bank from a “c” rating to a “b-” rating in a report on Monday, October 28th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $26.67.
OPB stock traded down $0.34 during midday trading on Monday, reaching $26.01. The stock had a trading volume of 193,285 shares, compared to its average volume of 235,614. The company’s fifty day simple moving average is $25.38 and its 200 day simple moving average is $22.29. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.32. The company has a market cap of $869.92 million, a price-to-earnings ratio of 16.70 and a beta of 1.33. Opus Bank has a 52-week low of $17.79 and a 52-week high of $26.44.
The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were issued a dividend of $0.11 per share. The ex-dividend date was Wednesday, November 6th. This represents a $0.44 annualized dividend and a dividend yield of 1.69%. Opus Bank’s dividend payout ratio is presently 34.38%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Millennium Management LLC raised its holdings in Opus Bank by 145.8% in the 3rd quarter. Millennium Management LLC now owns 222,152 shares of the financial services provider’s stock valued at $4,836,000 after buying an additional 131,784 shares during the period. Squarepoint Ops LLC grew its position in Opus Bank by 27.7% in the 3rd quarter. Squarepoint Ops LLC now owns 16,846 shares of the financial services provider’s stock valued at $367,000 after acquiring an additional 3,656 shares in the last quarter. California State Teachers Retirement System grew its position in Opus Bank by 1.2% in the 3rd quarter. California State Teachers Retirement System now owns 34,111 shares of the financial services provider’s stock valued at $743,000 after acquiring an additional 407 shares in the last quarter. Voya Investment Management LLC acquired a new position in Opus Bank in the 3rd quarter valued at about $200,000. Finally, BBVA USA Bancshares Inc. grew its position in Opus Bank by 30.2% in the 3rd quarter. BBVA USA Bancshares Inc. now owns 26,254 shares of the financial services provider’s stock valued at $571,000 after acquiring an additional 6,082 shares in the last quarter. Institutional investors and hedge funds own 96.80% of the company’s stock.
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.
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