California Public Employees Retirement System Boosts Holdings in Opus Bank (NASDAQ:OPB)

California Public Employees Retirement System boosted its position in Opus Bank (NASDAQ:OPB) by 29.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,551 shares of the financial services provider’s stock after purchasing an additional 3,800 shares during the quarter. California Public Employees Retirement System’s holdings in Opus Bank were worth $360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Opus Bank by 2.7% during the 2nd quarter. Vanguard Group Inc. now owns 1,542,599 shares of the financial services provider’s stock valued at $32,564,000 after acquiring an additional 40,238 shares during the last quarter. Royal Bank of Canada raised its stake in Opus Bank by 0.6% in the second quarter. Royal Bank of Canada now owns 522,437 shares of the financial services provider’s stock valued at $11,029,000 after purchasing an additional 2,918 shares in the last quarter. Morgan Stanley lifted its position in Opus Bank by 213.8% during the second quarter. Morgan Stanley now owns 95,858 shares of the financial services provider’s stock valued at $2,023,000 after purchasing an additional 65,313 shares during the last quarter. Castine Capital Management LLC lifted its position in Opus Bank by 111.7% during the second quarter. Castine Capital Management LLC now owns 609,221 shares of the financial services provider’s stock valued at $12,861,000 after purchasing an additional 321,445 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in Opus Bank by 41.0% in the 2nd quarter. Renaissance Technologies LLC now owns 135,110 shares of the financial services provider’s stock worth $2,852,000 after buying an additional 39,300 shares in the last quarter. 96.80% of the stock is owned by hedge funds and other institutional investors.

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

Shares of Opus Bank stock opened at $25.08 on Friday. 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 firm has a market capitalization of $859.64 million, a PE ratio of 19.59 and a beta of 1.34. The business’s 50-day moving average price is $25.02 and its 200-day moving average price is $22.11. Opus Bank has a 12 month low of $17.79 and a 12 month high of $26.26.

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 the Zacks’ consensus estimate of $0.35 by $0.23. The company had revenue of $62.63 million for the quarter, compared to analysts’ expectations of $63.70 million. Opus Bank had a return on equity of 5.67% and a net margin of 11.12%. During the same period last year, the firm posted $0.25 EPS. As a group, analysts predict that Opus Bank will post 1.62 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend was Wednesday, November 6th. Opus Bank’s payout ratio is currently 34.38%.

Opus Bank Company Profile

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

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