BidaskClub Lowers Opus Bank (NASDAQ:OPB) to Strong Sell

BidaskClub downgraded shares of Opus Bank (NASDAQ:OPB) from a sell rating to a strong sell rating in a research note issued to investors on Wednesday morning, BidAskClub reports.

Other research analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of ExlService from a hold rating to a sell rating in a report on Wednesday, July 10th. ValuEngine downgraded shares of Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd. Three equities research analysts have rated the stock with a sell rating and one has issued a hold rating to the stock. The stock presently has an average rating of Sell and an average price target of $20.00.

OPB opened at $20.98 on Wednesday. The business has a 50 day simple moving average of $20.85. The company has a market cap of $713.28 million, a P/E ratio of 16.78 and a beta of 1.25. Opus Bank has a 12 month low of $17.79 and a 12 month high of $30.00. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.96 and a current ratio of 0.96.

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

Hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC lifted its stake in Opus Bank by 21.1% in the 1st quarter. SG Americas Securities LLC now owns 27,837 shares of the financial services provider’s stock worth $551,000 after purchasing an additional 4,857 shares in the last quarter. BlackRock Inc. lifted its stake in Opus Bank by 4.6% in the 4th quarter. BlackRock Inc. now owns 3,251,017 shares of the financial services provider’s stock worth $63,688,000 after purchasing an additional 143,254 shares in the last quarter. Castine Capital Management LLC purchased a new stake in Opus Bank in the 1st quarter worth approximately $5,698,000. Geode Capital Management LLC lifted its stake in Opus Bank by 16.9% in the 4th quarter. Geode Capital Management LLC now owns 254,402 shares of the financial services provider’s stock worth $4,983,000 after purchasing an additional 36,769 shares in the last quarter. Finally, California Public Employees Retirement System lifted its stake in Opus Bank by 12.3% in the 4th quarter. California Public Employees Retirement System now owns 22,255 shares of the financial services provider’s stock worth $436,000 after purchasing an additional 2,444 shares in the last quarter. Institutional investors and hedge funds own 97.02% of the company’s stock.

About Opus Bank

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.

Read More: Compound Annual Growth Rate (CAGR)

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