SignalPoint Asset Management LLC Sells 1,141 Shares of Opus Bank (OPB)
SignalPoint Asset Management LLC lowered its stake in shares of Opus Bank (NASDAQ:OPB) by 6.7% during the second quarter, Holdings Channel reports. The firm owned 15,843 shares of the financial services provider’s stock after selling 1,141 shares during the period. SignalPoint Asset Management LLC’s holdings in Opus Bank were worth $383,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of OPB. UBS Group AG raised its position 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 buying an additional 941 shares during the period. Bank of Montreal Can raised its position in Opus Bank by 262.1% in the first quarter. Bank of Montreal Can now owns 8,340 shares of the financial services provider’s stock valued at $168,000 after buying an additional 6,037 shares during the period. New York State Teachers Retirement System raised its position 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 buying an additional 500 shares during the period. Karp Capital Management Corp bought a new position in Opus Bank during the first quarter valued at $224,000. Finally, Thrivent Financial for Lutherans raised its position in Opus Bank by 6.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 9,840 shares of the financial services provider’s stock valued at $296,000 after buying an additional 570 shares during the period. Institutional investors own 91.73% of the company’s stock.
Opus Bank (NASDAQ:OPB) opened at 23.80 on Tuesday. The stock has a 50 day moving average price of $23.72 and a 200-day moving average price of $22.22. The company has a market capitalization of $889.67 million, a price-to-earnings ratio of 238.00 and a beta of 1.07. Opus Bank has a 1-year low of $18.20 and a 1-year high of $35.90.
Opus Bank (NASDAQ:OPB) last issued its earnings results on Monday, July 24th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.22. The company had revenue of $79.83 million for the quarter, compared to analysts’ expectations of $71.47 million. Opus Bank had a net margin of 1.15% and a return on equity of 2.76%. The firm’s revenue was down 49.3% on a year-over-year basis. Equities analysts predict that Opus Bank will post $1.41 earnings per share for the current year.
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Several equities analysts have weighed in on OPB shares. TheStreet upgraded Opus Bank from a “c” rating to a “b-” rating in a report on Thursday, July 13th. Piper Jaffray Companies restated a “buy” rating and set a $27.00 target price on shares of Opus Bank in a report on Wednesday, July 12th. ValuEngine upgraded Opus Bank from a “sell” rating to a “hold” rating in a report on Tuesday, July 25th. BidaskClub lowered Opus Bank from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Finally, Zacks Investment Research upgraded Opus Bank from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 28th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $27.67.
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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