Opus Bank (NASDAQ:OPB) Receives Consensus Recommendation of “Hold” from Brokerages

Opus Bank (NASDAQ:OPB) has been given an average recommendation of “Hold” by the six brokerages that are currently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $22.00.

A number of brokerages have issued reports on OPB. BidaskClub raised Opus Bank from a “sell” rating to a “hold” rating in a research note on Tuesday, July 30th. Zacks Investment Research lowered Opus Bank from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Hovde Group raised Opus Bank from a “market perform” rating to an “outperform” rating and increased their price target for the company from $21.50 to $24.00 in a research note on Friday, August 9th. Finally, ValuEngine raised Opus Bank from a “sell” rating to a “hold” rating in a research note on Monday, July 29th.

OPB stock traded up $0.29 on Friday, reaching $20.54. The company’s stock had a trading volume of 176,000 shares, compared to its average volume of 132,975. Opus Bank has a 52 week low of $17.79 and a 52 week high of $29.50. The company has a market capitalization of $714.31 million, a P/E ratio of 16.05 and a beta of 1.27. The firm has a fifty day moving average of $21.18 and a two-hundred day moving average of $21.20. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.97.

Opus Bank (NASDAQ:OPB) last issued its quarterly earnings data on Monday, July 29th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03. Opus Bank had a return on equity of 4.47% and a net margin of 7.32%. The business had revenue of $62.51 million during the quarter, compared to analyst estimates of $63.80 million. During the same period in the prior year, the company posted $0.40 EPS. As a group, equities analysts expect that Opus Bank will post 1.39 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend is Wednesday, August 7th. Opus Bank’s payout ratio is currently 34.38%.

Hedge funds and other institutional investors have recently modified their holdings of the business. Castine Capital Management LLC boosted its stake in shares of Opus Bank by 111.7% during the 2nd quarter. Castine Capital Management LLC now owns 609,221 shares of the financial services provider’s stock worth $12,861,000 after acquiring an additional 321,445 shares in the last quarter. Nuveen Asset Management LLC bought a new stake in shares of Opus Bank during the 2nd quarter worth $2,508,000. BlackRock Inc. boosted its stake in shares of Opus Bank by 2.3% during the 2nd quarter. BlackRock Inc. now owns 3,339,169 shares of the financial services provider’s stock worth $70,489,000 after acquiring an additional 76,150 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Opus Bank by 28.4% during the 4th quarter. Bank of New York Mellon Corp now owns 327,216 shares of the financial services provider’s stock worth $6,410,000 after acquiring an additional 72,473 shares in the last quarter. Finally, Morgan Stanley boosted its stake in shares of Opus Bank by 213.8% during the 2nd quarter. Morgan Stanley now owns 95,858 shares of the financial services provider’s stock worth $2,023,000 after acquiring an additional 65,313 shares in the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

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.

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