Opus Bank (OPB) Posts Earnings Results

Opus Bank (NASDAQ:OPB) announced its quarterly earnings results on Monday, July 24th. The financial services provider reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.22, MarketWatch Earnings reports. The firm had revenue of $79.83 million for the quarter, compared to analysts’ expectations of $71.47 million. Opus Bank had a net margin of 1.15% and a return on equity of 2.76%. The firm’s revenue for the quarter was down 49.3% on a year-over-year basis.

Opus Bank (NASDAQ OPB) traded up 0.22% during mid-day trading on Friday, reaching $22.30. 137,890 shares of the company’s stock traded hands. Opus Bank has a 12 month low of $18.20 and a 12 month high of $35.90. The firm’s 50-day moving average price is $23.67 and its 200 day moving average price is $22.01. The stock has a market capitalization of $833.77 million, a PE ratio of 208.41 and a beta of 1.07.

Institutional investors have recently modified their holdings of the company. State Street Corp boosted its position in shares of Opus Bank by 38.5% in the fourth quarter. State Street Corp now owns 655,787 shares of the financial services provider’s stock worth $19,707,000 after buying an additional 182,161 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Opus Bank by 10.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 735,477 shares of the financial services provider’s stock worth $22,100,000 after buying an additional 68,411 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in shares of Opus Bank by 6.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 9,840 shares of the financial services provider’s stock worth $296,000 after buying an additional 570 shares during the last quarter. RMB Capital Management LLC boosted its position in shares of Opus Bank by 86.0% in the fourth quarter. RMB Capital Management LLC now owns 273,401 shares of the financial services provider’s stock worth $8,216,000 after buying an additional 126,391 shares during the last quarter. Finally, Teachers Advisors LLC boosted its position in shares of Opus Bank by 36.9% in the fourth quarter. Teachers Advisors LLC now owns 69,133 shares of the financial services provider’s stock worth $2,077,000 after buying an additional 18,644 shares during the last quarter. 91.73% of the stock is owned by institutional investors and hedge funds.

OPB has been the topic of a number of analyst reports. BidaskClub lowered shares of Opus Bank from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th. Zacks Investment Research upgraded shares of Opus Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. ValuEngine upgraded shares of Opus Bank from a “sell” rating to a “hold” rating in a research note on Tuesday, July 25th. TheStreet upgraded shares of Opus Bank from a “c” rating to a “b-” rating in a research note on Thursday, July 13th. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $27.00 price objective on shares of Opus Bank in a research note on Wednesday, July 12th. One 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 stock. The stock presently has an average rating of “Hold” and an average price target of $27.67.

COPYRIGHT VIOLATION NOTICE: This news story was posted by BNB Daily and is owned by of BNB Daily. If you are accessing this news story on another site, it was copied illegally and republished in violation of United States & international copyright & trademark laws. The correct version of this news story can be viewed at https://www.baseball-news-blog.com/2017/08/19/opus-bank-opb-posts-earnings-results-beats-expectations-by-0-22-eps-updated-updated-updated.html.

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.

Earnings History for Opus Bank (NASDAQ:OPB)

Receive News & Ratings for Opus Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Opus Bank and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply