Arizona State Retirement System Buys New Stake in Opus Bank (OPB)

Arizona State Retirement System bought a new stake in shares of Opus Bank (NASDAQ:OPB) during the 2nd quarter, according to its most recent filing with the SEC. The fund bought 9,500 shares of the financial services provider’s stock, valued at approximately $230,000.

Several other institutional investors have also modified their holdings of OPB. Teachers Advisors LLC boosted its position in shares of Opus Bank by 36.9% during the 4th quarter. Teachers Advisors LLC now owns 69,133 shares of the financial services provider’s stock valued at $2,077,000 after acquiring an additional 18,644 shares in the last quarter. Bank of Montreal Can boosted its position in Opus Bank by 262.1% in the first quarter. Bank of Montreal Can now owns 8,340 shares of the financial services provider’s stock valued at $168,000 after buying an additional 6,037 shares in the last quarter. Strs Ohio boosted its position in Opus Bank by 33.7% in the first quarter. Strs Ohio now owns 33,700 shares of the financial services provider’s stock valued at $679,000 after buying an additional 8,500 shares in the last quarter. Wells Fargo & Company MN boosted its position in Opus Bank by 0.7% in the first quarter. Wells Fargo & Company MN now owns 102,544 shares of the financial services provider’s stock valued at $2,067,000 after buying an additional 711 shares in the last quarter. Finally, First Trust Advisors LP boosted its position in Opus Bank by 26.2% in the first quarter. First Trust Advisors LP now owns 113,983 shares of the financial services provider’s stock valued at $2,297,000 after buying an additional 23,698 shares in the last quarter. Institutional investors and hedge funds own 91.73% of the company’s stock.

A number of equities analysts have weighed in on OPB shares. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $24.00 target price on shares of Opus Bank in a research note on Tuesday, August 29th. TheStreet downgraded shares of Opus Bank from a “b-” rating to a “c+” rating in a research note on Wednesday, August 23rd. Zacks Investment Research cut shares of Opus Bank from a “hold” rating to a “sell” rating in a report on Saturday, July 8th. BidaskClub cut shares of Opus Bank from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Finally, ValuEngine upgraded shares of Opus Bank from a “sell” rating to a “hold” rating in a report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. Opus Bank has an average rating of “Hold” and a consensus target price of $27.33.

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Opus Bank (NASDAQ:OPB) opened at 22.70 on Wednesday. Opus Bank has a 52-week low of $18.20 and a 52-week high of $35.56. The company has a market capitalization of $848.73 million, a price-to-earnings ratio of 212.15 and a beta of 1.08. The company’s 50-day moving average is $22.98 and its 200-day moving average is $22.11.

Opus Bank (NASDAQ:OPB) last announced its quarterly earnings results on Monday, July 24th. The financial services provider reported $0.51 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.22. Opus Bank had a return on equity of 2.76% and a net margin of 1.15%. The firm had revenue of $79.83 million for the quarter, compared to analysts’ expectations of $71.47 million. The firm’s quarterly revenue was down 49.3% on a year-over-year basis. On average, analysts expect that Opus Bank will post $1.41 earnings per share for the current fiscal year.

About Opus Bank

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.

Institutional Ownership by Quarter for Opus Bank (NASDAQ:OPB)

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