Opus Bank (OPB) Earns “Buy” Rating from Piper Jaffray Companies

Opus Bank (NASDAQ:OPB)‘s stock had its “buy” rating reissued by analysts at Piper Jaffray Companies in a report released on Tuesday. They presently have a $30.00 price objective on the financial services provider’s stock. Piper Jaffray Companies’ price objective suggests a potential upside of 3.99% from the stock’s previous close.

A number of other equities analysts have also weighed in on OPB. BidaskClub lowered Opus Bank from a “hold” rating to a “sell” rating in a research report on Friday, December 29th. ValuEngine upgraded Opus Bank from a “sell” rating to a “hold” rating in a research report on Wednesday, September 27th. FIG Partners began coverage on Opus Bank in a research report on Thursday, November 9th. They issued an “outperform” rating and a $32.00 price target for the company. Finally, TheStreet upgraded Opus Bank from a “c+” rating to a “b-” rating in a research report on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. Opus Bank has an average rating of “Hold” and an average target price of $29.60.

Opus Bank (NASDAQ:OPB) traded up $0.30 during trading hours on Tuesday, hitting $28.85. The company had a trading volume of 136,152 shares, compared to its average volume of 169,194. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.90 and a quick ratio of 0.90. Opus Bank has a fifty-two week low of $18.45 and a fifty-two week high of $29.25. The firm has a market cap of $926.38, a price-to-earnings ratio of 41.81 and a beta of 1.15.

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

A number of institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted 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 acquiring an additional 216,891 shares in the last quarter. Royal Bank of Canada lifted 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 acquiring an additional 3,554 shares in the last quarter. Emerald Advisers Inc. PA lifted 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 acquiring an additional 32,939 shares in the last quarter. Emerald Mutual Fund Advisers Trust lifted 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 acquiring an additional 67,947 shares in the last quarter. Finally, Eagle Boston Investment Management Inc. lifted 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 acquiring an additional 4,702 shares in the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

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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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