Opus Bank (NASDAQ:OPB) Cut to “Hold” at BidaskClub

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

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

OPB stock opened at $24.94 on Tuesday. The business has a 50-day moving average price of $24.91 and a 200 day moving average price of $22.07. Opus Bank has a 1-year low of $17.79 and a 1-year high of $26.26. The company has a market capitalization of $854.84 million, a P/E ratio of 19.48 and a beta of 1.34. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.97 and a quick ratio of 0.97.

Opus Bank (NASDAQ:OPB) last released its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.23. The firm had revenue of $62.63 million during the quarter, compared to analyst estimates 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 in the previous year, the company posted $0.25 EPS. On average, analysts anticipate that Opus Bank will post 1.62 earnings per share for the current fiscal year.

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

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Millennium Management LLC grew its position in Opus Bank by 145.8% in the third quarter. Millennium Management LLC now owns 222,152 shares of the financial services provider’s stock worth $4,836,000 after acquiring an additional 131,784 shares during the period. Squarepoint Ops LLC lifted its position in Opus Bank by 27.7% in the third quarter. Squarepoint Ops LLC now owns 16,846 shares of the financial services provider’s stock valued at $367,000 after buying an additional 3,656 shares during the last quarter. California State Teachers Retirement System raised its stake in shares of Opus Bank by 1.2% in 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 acquiring an additional 407 shares during the period. Voya Investment Management LLC acquired a new stake in Opus Bank in the 3rd quarter valued at approximately $200,000. Finally, BBVA USA Bancshares Inc. lifted its stake in Opus Bank by 30.2% during the third quarter. BBVA USA Bancshares Inc. now owns 26,254 shares of the financial services provider’s stock worth $571,000 after purchasing an additional 6,082 shares in the last quarter. 96.80% of the stock is owned by institutional investors.

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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