Emerald Mutual Fund Advisers Trust boosted its stake in Opus Bank (NASDAQ:OPB) by 41.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 954,540 shares of the company’s stock after buying an additional 279,569 shares during the period. Opus Bank accounts for about 1.8% of Emerald Mutual Fund Advisers Trust’s portfolio, making the stock its 3rd largest position. Emerald Mutual Fund Advisers Trust’s holdings in Opus Bank were worth $32,263,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Capstone Asset Management Co. bought a new stake in Opus Bank during the second quarter valued at $428,000. Cutler Group LP bought a new stake in Opus Bank during the second quarter valued at $169,000. Creative Planning bought a new stake in Opus Bank during the second quarter valued at $199,000. BNP Paribas Arbitrage SA bought a new stake in Opus Bank during the second quarter valued at $201,000. Finally, Hillcrest Asset Management LLC bought a new stake in Opus Bank during the first quarter valued at $7,409,000. 93.91% of the stock is owned by institutional investors and hedge funds.
Opus Bank (NASDAQ:OPB) traded up 1.27% during trading on Tuesday, reaching $35.20. 46,123 shares of the company’s stock traded hands. The company has a market cap of $1.21 billion, a PE ratio of 18.56 and a beta of 0.51. Opus Bank has a 12-month low of $28.84 and a 12-month high of $41.49. The company has a 50 day moving average price of $34.47 and a 200-day moving average price of $34.75.
Opus Bank (NASDAQ:OPB) last posted its quarterly earnings results on Monday, July 25th. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.64 by $0.18. Opus Bank had a net margin of 22.45% and a return on equity of 7.45%. On average, equities research analysts forecast that Opus Bank will post $2.29 EPS for the current fiscal year.
Several research firms have recently weighed in on OPB. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Opus Bank in a research note on Tuesday, July 12th. Piper Jaffray Cos. reissued an “overweight” rating and set a $41.00 price objective (down from $45.00) on shares of Opus Bank in a report on Tuesday, June 28th. TheStreet raised shares of Opus Bank from a “hold” rating to a “buy” rating in a report on Friday, July 15th. JPMorgan Chase & Co. cut their price objective on shares of Opus Bank from $39.00 to $38.00 and set an “overweight” rating on the stock in a report on Thursday, July 7th. Finally, JMP Securities initiated coverage on shares of Opus Bank in a report on Friday, September 16th. They set a “market perform” rating on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. Opus Bank currently has a consensus 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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