Piper Jaffray Companies Reaffirms Buy Rating for Opus Bank (OPB)

Piper Jaffray Companies reissued their buy rating on shares of Opus Bank (NASDAQ:OPB) in a research report released on Tuesday morning. They currently have a $30.00 price objective on the financial services provider’s stock.

A number of other analysts have also recently commented on OPB. BidaskClub cut Opus Bank from a hold rating to a sell rating in a research report on Friday, December 29th. ValuEngine raised Opus Bank from a sell rating to a hold rating in a research report on Wednesday, September 27th. FIG Partners assumed coverage on Opus Bank in a research report on Thursday, November 9th. They issued an outperform rating and a $32.00 price target on the stock. Finally, TheStreet raised Opus Bank from a c+ rating to a b- rating in a research report on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $29.60.

Opus Bank (OPB) traded up $0.35 during trading on Tuesday, reaching $29.20. The company’s stock had a trading volume of 104,576 shares, compared to its average volume of 162,008. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.90 and a current ratio of 0.90. Opus Bank has a fifty-two week low of $18.45 and a fifty-two week high of $29.35. The company has a market cap of $926.38, a PE ratio of 42.32 and a beta of 1.15.

Opus Bank (NASDAQ:OPB) last issued its quarterly earnings results on Monday, October 23rd. The financial services provider reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.20. Opus Bank had a return on equity of 3.11% and a net margin of 8.30%. The firm had revenue of $68.20 million for the quarter, compared to analysts’ expectations of $70.45 million. During the same period in the previous year, the firm posted ($0.09) EPS. The business’s revenue for the quarter was down 3.7% compared to the same quarter last year. equities analysts forecast that Opus Bank will post 1.57 EPS for the current year.

A number of hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its position in Opus Bank by 19.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,327,792 shares of the financial services provider’s stock valued at $31,867,000 after acquiring an additional 216,891 shares in the last quarter. Royal Bank of Canada raised its stake in Opus Bank by 0.5% during the 2nd quarter. Royal Bank of Canada now owns 738,732 shares of the financial services provider’s stock valued at $17,877,000 after buying an additional 3,554 shares during the last quarter. Emerald Advisers Inc. PA raised its stake in Opus Bank by 5.4% during the 3rd quarter. Emerald Advisers Inc. PA now owns 642,671 shares of the financial services provider’s stock valued at $15,424,000 after buying an additional 32,939 shares during the last quarter. Emerald Mutual Fund Advisers Trust raised its stake in Opus Bank by 14.6% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 534,380 shares of the financial services provider’s stock valued at $12,825,000 after buying an additional 67,947 shares during the last quarter. Finally, Eagle Boston Investment Management Inc. raised its stake in Opus Bank by 1.3% during the 3rd quarter. Eagle Boston Investment Management Inc. now owns 363,581 shares of the financial services provider’s stock valued at $8,816,000 after buying an additional 4,702 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Opus Bank (NASDAQ:OPB)

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