Opus Bank (NASDAQ:OPB) Lowered to Hold at BidaskClub

BidaskClub downgraded shares of Opus Bank (NASDAQ:OPB) from a buy rating to a hold rating in a report issued on Tuesday morning, BidAskClub reports.

Several other analysts have also recently commented on OPB. TheStreet raised shares of Opus Bank from a c rating to a b- rating in a research note on Monday, October 28th. Zacks Investment Research lowered shares of Opus Bank from a hold rating to a sell rating in a report on Tuesday, October 15th. ValuEngine cut shares of Opus Bank from a hold rating to a sell rating in a research report on Monday, October 21st. Finally, Hovde Group raised Opus Bank from a market perform rating to an outperform rating and increased their target price for the company from $21.50 to $24.00 in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $25.00.

Shares of Opus Bank stock opened at $24.94 on Tuesday. The firm has a market cap of $854.84 million, a P/E ratio of 19.48 and a beta of 1.34. The firm’s 50-day simple moving average is $24.91 and its 200-day simple moving average is $22.07. Opus Bank has a twelve month low of $17.79 and a twelve month high of $26.26. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.97 and a current ratio of 0.97.

Opus Bank (NASDAQ:OPB) last posted its earnings results on Monday, October 28th. The financial services provider reported $0.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.23. The business had revenue of $62.63 million for the quarter, compared to analyst estimates of $63.70 million. Opus Bank had a net margin of 11.12% and a return on equity of 5.67%. During the same quarter in the prior year, the firm earned $0.25 EPS. On average, equities analysts forecast that Opus Bank will post 1.62 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend was Wednesday, November 6th. Opus Bank’s payout ratio is 34.38%.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System lifted its holdings in Opus Bank by 1.2% during 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 purchasing an additional 407 shares during the last quarter. United Services Automobile Association boosted its holdings in Opus Bank by 5.8% in the 2nd quarter. United Services Automobile Association now owns 13,655 shares of the financial services provider’s stock valued at $288,000 after purchasing an additional 747 shares during the period. State of Tennessee Treasury Department boosted its holdings in Opus Bank by 8.5% in the 3rd quarter. State of Tennessee Treasury Department now owns 9,628 shares of the financial services provider’s stock valued at $210,000 after purchasing an additional 757 shares during the period. Teton Advisors Inc. raised its position in shares of Opus Bank by 7.7% in the third quarter. Teton Advisors Inc. now owns 14,000 shares of the financial services provider’s stock valued at $305,000 after buying an additional 1,000 shares in the last quarter. Finally, Summit Global Investments raised its position in shares of Opus Bank by 3.8% in the second quarter. Summit Global Investments now owns 33,100 shares of the financial services provider’s stock valued at $699,000 after buying an additional 1,200 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.

Further Reading: Outstanding Shares and The Effect on Share Price

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