Alliancebernstein L.P. Cuts Stake in Opus Bank (NASDAQ:OPB)

Alliancebernstein L.P. cut its position in Opus Bank (NASDAQ:OPB) by 20.1% during the first quarter, Holdings Channel reports. The fund owned 21,900 shares of the financial services provider’s stock after selling 5,500 shares during the period. Alliancebernstein L.P.’s holdings in Opus Bank were worth $441,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in the company. Hennessy Advisors Inc. raised its stake in shares of Opus Bank by 380.0% in the first quarter. Hennessy Advisors Inc. now owns 360,000 shares of the financial services provider’s stock worth $7,254,000 after buying an additional 285,000 shares during the last quarter. LSV Asset Management raised its stake in shares of Opus Bank by 101.5% in the first quarter. LSV Asset Management now owns 518,100 shares of the financial services provider’s stock worth $10,439,000 after buying an additional 261,027 shares during the last quarter. Stieven Capital Advisors L.P. raised its stake in shares of Opus Bank by 85.6% in the first quarter. Stieven Capital Advisors L.P. now owns 476,078 shares of the financial services provider’s stock worth $9,593,000 after buying an additional 219,624 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Opus Bank during the first quarter worth approximately $721,000. Finally, Sei Investments Co. raised its stake in shares of Opus Bank by 313.4% in the first quarter. Sei Investments Co. now owns 33,485 shares of the financial services provider’s stock worth $674,000 after buying an additional 25,385 shares during the last quarter. Hedge funds and other institutional investors own 91.73% of the company’s stock.

Opus Bank (NASDAQ OPB) traded down 0.22% during trading on Friday, hitting $22.95. The stock had a trading volume of 8,073 shares. The company has a market cap of $858.08 million, a price-to-earnings ratio of 214.49 and a beta of 1.07. Opus Bank has a 52 week low of $18.20 and a 52 week high of $35.90. The company has a 50-day moving average of $23.78 and a 200 day moving average of $22.14.

Opus Bank (NASDAQ:OPB) last posted its earnings results on Monday, July 24th. The financial services provider reported $0.51 EPS for the quarter, beating the consensus estimate of $0.29 by $0.22. The firm had revenue of $79.83 million during the quarter, compared to the consensus estimate of $71.47 million. Opus Bank had a return on equity of 2.76% and a net margin of 1.15%. Opus Bank’s quarterly revenue was down 49.3% compared to the same quarter last year. On average, equities research analysts anticipate that Opus Bank will post $1.41 EPS for the current year.

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A number of analysts recently commented on OPB shares. Zacks Investment Research lowered Opus Bank from a “hold” rating to a “strong sell” rating in a research report on Friday, April 28th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $24.00 price objective (down from $25.00) on shares of Opus Bank in a research report on Monday, April 17th. ValuEngine lowered Opus Bank from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. TheStreet upgraded Opus Bank from a “d+” rating to a “c” rating in a research report on Monday, April 24th. Finally, BidaskClub lowered Opus Bank from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $27.67.

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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Institutional Ownership by Quarter for Opus Bank (NASDAQ:OPB)

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