Foundry Partners LLC lowered its position in Opus Bank (NASDAQ:OPB) by 6.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 242,610 shares of the financial services provider’s stock after selling 15,655 shares during the period. Foundry Partners LLC owned about 0.71% of Opus Bank worth $6,648,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in OPB. Piedmont Investment Advisors LLC bought a new position in Opus Bank during the 2nd quarter worth about $117,000. UBS Group AG increased its holdings in Opus Bank by 186.0% during the 1st quarter. UBS Group AG now owns 5,832 shares of the financial services provider’s stock worth $163,000 after purchasing an additional 3,793 shares in the last quarter. Teton Advisors Inc. bought a new position in Opus Bank during the 2nd quarter worth about $215,000. FDx Advisors Inc. bought a new position in Opus Bank during the 2nd quarter worth about $222,000. Finally, United Services Automobile Association bought a new position in Opus Bank during the 2nd quarter worth about $227,000. Institutional investors and hedge funds own 97.73% of the company’s stock.
Several brokerages have recently weighed in on OPB. BidaskClub cut Opus Bank from a “buy” rating to a “hold” rating in a report on Wednesday, July 25th. ValuEngine cut Opus Bank from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd. Zacks Investment Research upgraded Opus Bank from a “sell” rating to a “hold” rating in a report on Thursday, July 26th. Finally, Sandler O’Neill set a $20.00 price objective on Opus Bank and gave the company a “hold” rating in a report on Tuesday, October 23rd. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $28.40.
Opus Bank (NASDAQ:OPB) last issued its earnings results on Monday, October 22nd. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.11). Opus Bank had a net margin of 13.28% and a return on equity of 4.80%. The firm had revenue of $60.34 million during the quarter, compared to analyst estimates of $67.23 million. During the same quarter last year, the business posted $0.54 earnings per share. As a group, equities analysts forecast that Opus Bank will post 1.26 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Thursday, November 1st will be paid a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, October 31st. This represents a $0.44 annualized dividend and a yield of 2.13%. Opus Bank’s dividend payout ratio (DPR) is currently 29.53%.
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About Opus Bank
Opus Bank provides various banking products, services, and solutions for small to mid-sized companies, entrepreneurs, real estate investors, professionals, and high net worth individuals. It offers demand deposits, checking accounts, money market accounts, savings accounts, and certificates of deposit.
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