BidaskClub Upgrades Opus Bank (OPB) to Buy

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BidaskClub upgraded shares of Opus Bank (NASDAQ:OPB) from a hold rating to a buy rating in a research report released on Wednesday.

A number of other brokerages have also weighed in on OPB. FIG Partners lowered shares of Opus Bank from an outperform rating to a market-perform rating in a report on Monday, July 23rd. ValuEngine lowered shares of Opus Bank from a buy rating to a hold rating in a report on Wednesday, June 13th. Finally, Zacks Investment Research lowered shares of Opus Bank from a hold rating to a strong sell rating in a report on Friday, June 15th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Opus Bank presently has an average rating of Hold and a consensus price target of $30.80.

Shares of NASDAQ OPB opened at $28.65 on Wednesday. Opus Bank has a twelve month low of $21.06 and a twelve month high of $30.95. The company has a market capitalization of $975.15 million, a P/E ratio of 19.23 and a beta of 0.92. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.13.

Opus Bank (NASDAQ:OPB) last announced its quarterly earnings data on Monday, July 23rd. The financial services provider reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.06. Opus Bank had a net margin of 16.83% and a return on equity of 5.96%. The company had revenue of $62.45 million during the quarter, compared to analyst estimates of $68.65 million. During the same period in the previous year, the business earned $0.21 EPS. sell-side analysts expect that Opus Bank will post 1.47 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, August 16th. Shareholders of record on Thursday, August 2nd were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Wednesday, August 1st. This represents a $0.44 dividend on an annualized basis and a yield of 1.54%. Opus Bank’s dividend payout ratio is presently 29.53%.

A number of institutional investors and hedge funds have recently made changes to their positions in OPB. Piedmont Investment Advisors LLC purchased a new stake in Opus Bank during the 2nd quarter valued at $117,000. UBS Group AG raised its stake in Opus Bank by 186.0% during the 1st quarter. UBS Group AG now owns 5,832 shares of the financial services provider’s stock valued at $163,000 after buying an additional 3,793 shares during the last quarter. Teton Advisors Inc. purchased a new stake in Opus Bank during the 2nd quarter valued at $215,000. FDx Advisors Inc. purchased a new stake in Opus Bank during the 2nd quarter valued at $222,000. Finally, Stevens Capital Management LP purchased a new stake in Opus Bank during the 2nd quarter valued at $276,000. Institutional investors and hedge funds own 98.07% of the company’s stock.

Opus Bank Company Profile

Opus Bank provides various banking products, services, and solutions for small to mid-sized companies, entrepreneurs, real estate investors, professionals, and high net worth individuals. It offers demand deposits, checking accounts, money market accounts, savings accounts, and certificates of deposit.

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