Opus Bank (NASDAQ:OPB) Raised to “Hold” at Zacks Investment Research
According to Zacks, “Opus Bank is a state-charted commercial bank. The Bank accepts deposits, loans, and provides other services for the public. It provides relationship-based banking products, services and loan products for small to mid-sized commercial businesses, entrepreneurs, real estate investors, professionals and consumers. Opus Bank is headquartered in Irvine, California. “
Several other research firms have also recently weighed in on OPB. BidaskClub cut Opus Bank from a hold rating to a sell rating in a report on Tuesday, June 11th. ValuEngine upgraded Opus Bank from a sell rating to a hold rating in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating and three have given a hold rating to the stock. The company has a consensus rating of Hold and an average price target of $20.00.
Opus Bank (NASDAQ:OPB) last issued its earnings results on Monday, April 29th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.01). The business had revenue of $61.90 million for the quarter, compared to the consensus estimate of $62.55 million. Opus Bank had a net margin of 9.89% and a return on equity of 4.71%. During the same period last year, the business posted $0.34 EPS. On average, equities analysts expect that Opus Bank will post 1.34 EPS for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OPB. Versant Capital Management Inc boosted its holdings in shares of Opus Bank by 163.1% in the 1st quarter. Versant Capital Management Inc now owns 1,334 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 827 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in shares of Opus Bank by 11,397.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 4,139 shares of the financial services provider’s stock worth $82,000 after purchasing an additional 4,103 shares during the period. Oregon Public Employees Retirement Fund purchased a new position in shares of Opus Bank in the 4th quarter worth approximately $161,000. Municipal Employees Retirement System of Michigan purchased a new position in shares of Opus Bank in the 4th quarter worth approximately $188,000. Finally, O Shaughnessy Asset Management LLC purchased a new position in shares of Opus Bank in the 4th quarter worth approximately $195,000. Institutional investors and hedge funds own 97.02% of the company’s stock.
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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