Opus Bank (NASDAQ:OPB) posted its quarterly earnings results on Monday, July 24th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.22, MarketWatch Earnings reports. The business had revenue of $79.83 million for the quarter, compared to the consensus estimate of $71.47 million. Opus Bank had a return on equity of 2.76% and a net margin of 1.15%. The business’s revenue was down 49.3% compared to the same quarter last year.
Shares of Opus Bank (OPB) traded up 0.22% during mid-day trading on Friday, reaching $22.30. The company’s stock had a trading volume of 137,890 shares. The company’s 50 day moving average price is $23.67 and its 200-day moving average price is $22.01. The company has a market capitalization of $833.77 million, a price-to-earnings ratio of 208.41 and a beta of 1.07. Opus Bank has a 1-year low of $18.20 and a 1-year high of $35.90.
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Hedge funds and other institutional investors have recently modified their holdings of the company. UBS Group AG raised its position in shares of Opus Bank by 23.4% in the first quarter. UBS Group AG now owns 4,969 shares of the financial services provider’s stock worth $100,000 after buying an additional 941 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Opus Bank by 66.9% in the second quarter. BNP Paribas Arbitrage SA now owns 5,508 shares of the financial services provider’s stock worth $133,000 after buying an additional 2,208 shares in the last quarter. Bank of Montreal Can raised its position in shares of 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 worth $168,000 after buying an additional 6,037 shares in the last quarter. New York State Teachers Retirement System raised its position in shares of Opus Bank by 6.3% in the first quarter. New York State Teachers Retirement System now owns 8,459 shares of the financial services provider’s stock worth $170,000 after buying an additional 500 shares in the last quarter. Finally, Voya Investment Management LLC acquired a new position in shares of Opus Bank during the second quarter worth $209,000. 91.73% of the stock is currently owned by institutional investors.
A number of equities research analysts recently weighed in on the company. ValuEngine upgraded Opus Bank from a “sell” rating to a “hold” rating in a research note on Tuesday, July 25th. TheStreet upgraded Opus Bank from a “d+” rating to a “c” rating in a research note on Monday, April 24th. Piper Jaffray Companies reiterated a “buy” rating and issued a $27.00 price target on shares of Opus Bank in a research note on Wednesday, July 12th. BidaskClub cut Opus Bank from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, Zacks Investment Research lowered Opus Bank from a “hold” rating to a “sell” rating in a report on Saturday, July 8th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $27.67.
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.
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