Opus Bank (OPB) Given Buy Rating at Piper Jaffray Companies

Piper Jaffray Companies reiterated their buy rating on shares of Opus Bank (NASDAQ:OPB) in a report released on Tuesday. They currently have a $30.00 price target on the financial services provider’s stock.

Several other equities analysts have also recently commented on OPB. BidaskClub cut shares of Opus Bank from a hold rating to a sell rating in a research note on Friday, December 29th. ValuEngine raised shares of Opus Bank from a sell rating to a hold rating in a research note on Wednesday, September 27th. FIG Partners began coverage on shares of Opus Bank in a research note on Thursday, November 9th. They set an outperform rating and a $32.00 price objective for the company. Finally, TheStreet raised shares of Opus Bank from a c+ rating to a b- rating in a research note on Wednesday, October 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $29.60.

Shares of Opus Bank (NASDAQ OPB) traded up $0.30 during trading hours on Tuesday, reaching $28.55. 109,600 shares of the company traded hands, compared to its average volume of 173,914. The stock has a market capitalization of $926.38, a PE ratio of 41.38 and a beta of 1.15. Opus Bank has a 12 month low of $18.45 and a 12 month high of $29.63. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.14.

Opus Bank (NASDAQ:OPB) last issued its quarterly earnings data on Monday, October 23rd. The financial services provider reported $0.54 EPS for the quarter, beating the consensus estimate of $0.34 by $0.20. The company had revenue of $68.20 million during the quarter, compared to analysts’ expectations of $70.45 million. Opus Bank had a net margin of 8.30% and a return on equity of 3.11%. Opus Bank’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.09) earnings per share. equities analysts anticipate that Opus Bank will post 1.57 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its stake in Opus Bank by 19.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,327,792 shares of the financial services provider’s stock worth $31,867,000 after buying an additional 216,891 shares in the last quarter. Royal Bank of Canada grew its stake in Opus Bank by 0.5% in the 2nd quarter. Royal Bank of Canada now owns 738,732 shares of the financial services provider’s stock worth $17,877,000 after buying an additional 3,554 shares in the last quarter. Emerald Advisers Inc. PA grew its stake in Opus Bank by 5.4% in the 3rd quarter. Emerald Advisers Inc. PA now owns 642,671 shares of the financial services provider’s stock worth $15,424,000 after buying an additional 32,939 shares in the last quarter. Emerald Mutual Fund Advisers Trust grew its stake in Opus Bank by 14.6% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 534,380 shares of the financial services provider’s stock worth $12,825,000 after buying an additional 67,947 shares in the last quarter. Finally, Eagle Boston Investment Management Inc. grew its stake in Opus Bank by 1.3% in the 3rd quarter. Eagle Boston Investment Management Inc. now owns 363,581 shares of the financial services provider’s stock worth $8,816,000 after buying an additional 4,702 shares in the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Opus Bank (NASDAQ:OPB)

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