Zacks Investment Research Downgrades Opus Bank (NASDAQ:OPB) to Sell

Zacks Investment Research downgraded shares of Opus Bank (NASDAQ:OPB) from a hold rating to a sell rating in a research note published on Wednesday morning, Zacks.com reports.

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 equities analysts have also recently weighed in on OPB. BidaskClub cut Xencor from a sell rating to a strong sell rating in a research note on Tuesday, June 11th. ValuEngine cut Zumiez from a hold rating to a sell rating in a research note on Tuesday, July 2nd. Three investment analysts have rated the stock with a sell rating and one has issued a hold rating to the stock. The company has an average rating of Sell and a consensus target price of $20.00.

Shares of NASDAQ:OPB opened at $21.08 on Wednesday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.45. The company’s fifty day moving average is $20.84. Opus Bank has a 1-year low of $17.79 and a 1-year high of $30.00. The company has a market cap of $719.11 million, a PE ratio of 16.47 and a beta of 1.25.

Opus Bank (NASDAQ:OPB) last issued its quarterly earnings data on Monday, April 29th. The financial services provider reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.01). Opus Bank had a net margin of 9.89% and a return on equity of 4.71%. The company had revenue of $61.90 million for the quarter, compared to the consensus estimate of $62.55 million. During the same quarter last year, the business posted $0.34 earnings per share. Equities research analysts forecast that Opus Bank will post 1.32 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hennessy Advisors Inc. raised its stake in shares of Opus Bank by 1.3% during the 2nd quarter. Hennessy Advisors Inc. now owns 238,000 shares of the financial services provider’s stock worth $5,024,000 after purchasing an additional 3,000 shares during the period. Unison Advisors LLC bought a new stake in shares of Opus Bank during the 2nd quarter worth $208,000. Marshall Wace LLP bought a new stake in shares of Opus Bank during the 1st quarter worth $405,000. Castine Capital Management LLC bought a new stake in shares of Opus Bank during the 1st quarter worth $5,698,000. Finally, O Shaughnessy Asset Management LLC increased its holdings in Opus Bank by 64.9% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 16,380 shares of the financial services provider’s stock worth $324,000 after acquiring an additional 6,448 shares during the last quarter. Institutional investors own 96.93% 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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