Peregrine Capital Management LLC increased its position in shares of Opus Bank (NASDAQ:OPB) by 2.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 269,726 shares of the financial services provider’s stock after buying an additional 5,998 shares during the period. Peregrine Capital Management LLC owned about 0.72% of Opus Bank worth $6,473,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in OPB. UBS Group AG boosted its holdings in Opus Bank by 23.4% in the first quarter. UBS Group AG now owns 4,969 shares of the financial services provider’s stock valued at $100,000 after purchasing an additional 941 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in Opus Bank by 66.9% in the second quarter. BNP Paribas Arbitrage SA now owns 5,508 shares of the financial services provider’s stock valued at $133,000 after purchasing an additional 2,208 shares in the last quarter. New York State Teachers Retirement System boosted its holdings in Opus Bank by 6.3% in the first quarter. New York State Teachers Retirement System now owns 8,459 shares of the financial services provider’s stock valued at $170,000 after purchasing an additional 500 shares in the last quarter. Voya Investment Management LLC acquired a new position in Opus Bank in the second quarter valued at approximately $209,000. Finally, Karp Capital Management Corp acquired a new position in Opus Bank in the first quarter valued at approximately $224,000.
A number of equities analysts recently issued reports on OPB shares. BidaskClub downgraded Opus Bank from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. TheStreet raised Opus Bank from a “c” rating to a “b-” rating in a report on Thursday, July 13th. Piper Jaffray Companies reissued a “buy” rating and issued a $27.00 price objective on shares of Opus Bank in a report on Wednesday, July 12th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $24.00 price objective on shares of Opus Bank in a report on Tuesday, August 29th. Finally, ValuEngine raised Opus Bank from a “sell” rating to a “hold” rating in a report on Tuesday, July 25th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $27.33.
Opus Bank (NASDAQ:OPB) last issued its earnings results on Monday, October 23rd. The financial services provider reported $0.54 EPS for the quarter, topping the consensus estimate of $0.34 by $0.20. The company had revenue of $68.20 million during the quarter, compared to analyst estimates of $70.45 million. Opus Bank had a return on equity of 3.11% and a net margin of 8.30%. The business’s revenue was down 3.7% on a year-over-year basis. During the same quarter last year, the firm earned ($0.09) EPS.
Opus Bank Company Profile
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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