First Trust Advisors LP raised its stake in Opus Bank (NASDAQ:OPB) by 71.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 53,528 shares of the company’s stock after buying an additional 22,373 shares during the period. First Trust Advisors LP owned approximately 0.16% of Opus Bank worth $1,809,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cutler Group LP purchased a new position in shares of Opus Bank during the second quarter worth $169,000. Creative Planning purchased a new position in shares of Opus Bank during the second quarter worth $199,000. BNP Paribas Arbitrage SA purchased a new position in shares of Opus Bank during the second quarter worth $201,000. LaSalle Street Capital Management LLC bought a new stake in Opus Bank during the second quarter worth approximately $263,000. Finally, Louisiana State Employees Retirement System bought a new stake in Opus Bank during the second quarter worth approximately $281,000. Hedge funds and other institutional investors own 93.91% of the company’s stock.
Shares of Opus Bank (NASDAQ:OPB) traded down 1.68% during mid-day trading on Monday, reaching $34.61. The company’s stock had a trading volume of 26,171 shares. The firm’s 50 day moving average is $34.17 and its 200-day moving average is $34.73. The company has a market capitalization of $1.19 billion, a PE ratio of 18.24 and a beta of 0.51. Opus Bank has a 52-week low of $28.84 and a 52-week high of $41.49.
Opus Bank (NASDAQ:OPB) last posted its quarterly earnings data on Monday, July 25th. The company reported $0.46 EPS for the quarter, missing the Zacks’ consensus estimate of $0.64 by $0.18. Opus Bank had a return on equity of 7.45% and a net margin of 22.45%. Analysts forecast that Opus Bank will post $2.29 EPS for the current year.
OPB has been the topic of a number of analyst reports. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Opus Bank in a research note on Sunday, July 10th. JMP Securities initiated coverage on Opus Bank in a research note on Friday, September 16th. They set a “market perform” rating on the stock. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $41.00 price objective (down previously from $45.00) on shares of Opus Bank in a research note on Tuesday, June 28th. Credit Suisse Group AG initiated coverage on Opus Bank in a research note on Wednesday, June 29th. They set an “outperform” rating and a $44.00 price objective on the stock. Finally, TheStreet raised Opus Bank from a “hold” rating to a “buy” rating in a research note on Friday, July 15th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company. Opus Bank currently has an average rating of “Buy” and a consensus price target of $41.80.
About Opus Bank
Opus Bank is a California-chartered commercial bank. The Company provides relationship-based banking products, services and solutions to small and mid-sized companies, entrepreneurs, real estate investors, professionals and individuals. It is organized into four lines of business: commercial banking operations, which is referred to as Commercial Bank; retail banking operations, which is referred to as Retail Bank; merchant banking operations, which is referred to as Merchant Bank and correspondent banking operations, which is referred to as Correspondent Bank.
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