Opus Bank (NASDAQ:OPB) Cut to Hold at BidaskClub

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

Other research analysts also recently issued reports about the stock. TheStreet raised shares of Opus Bank from a d+ rating to a c rating in a research report on Monday, April 24th. Zacks Investment Research raised shares of Opus Bank from a strong sell rating to a hold rating in a research report on Wednesday, April 5th. Piper Jaffray Companies reaffirmed an overweight rating and issued a $24.00 target price (down from $25.00) on shares of Opus Bank in a research report on Monday, April 17th. Finally, ValuEngine downgraded shares of Opus Bank from a hold rating to a sell rating in a research report on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $27.67.

Shares of Opus Bank (OPB) traded down 0.43% during midday trading on Wednesday, hitting $23.40. 230,849 shares of the stock were exchanged. Opus Bank has a 12 month low of $18.20 and a 12 month high of $37.34. The stock has a 50 day moving average price of $22.72 and a 200-day moving average price of $23.15. The company has a market cap of $871.06 million, a PE ratio of 458.82 and a beta of 1.07.

Opus Bank (NASDAQ:OPB) last posted its earnings results on Monday, April 24th. The financial services provider reported $0.24 EPS for the quarter, missing the Zacks’ consensus estimate of $0.30 by $0.06. The company had revenue of $68.59 million during the quarter, compared to analysts’ expectations of $72.14 million. Opus Bank had a net margin of 0.53% and a return on equity of 2.46%. On average, analysts predict that Opus Bank will post $1.23 EPS for the current year.

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A number of hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp increased its position in shares of Opus Bank by 83.8% in the first quarter. State Street Corp now owns 1,205,354 shares of the financial services provider’s stock valued at $24,289,000 after buying an additional 549,567 shares during the last quarter. Elliott Management Corp increased its position in shares of Opus Bank by 7.3% in the first quarter. Elliott Management Corp now owns 5,419,153 shares of the financial services provider’s stock valued at $109,196,000 after buying an additional 367,874 shares during the last quarter. Mendon Capital Advisors Corp increased its position in shares of Opus Bank by 31.9% in the first quarter. Mendon Capital Advisors Corp now owns 1,228,420 shares of the financial services provider’s stock valued at $24,753,000 after buying an additional 297,000 shares during the last quarter. Hennessy Advisors Inc. increased its position in shares of Opus Bank by 380.0% in the first quarter. Hennessy Advisors Inc. now owns 360,000 shares of the financial services provider’s stock valued at $7,254,000 after buying an additional 285,000 shares during the last quarter. Finally, RMB Capital Management LLC increased its position in shares of Opus Bank by 98.9% in the first quarter. RMB Capital Management LLC now owns 543,671 shares of the financial services provider’s stock valued at $10,955,000 after buying an additional 270,270 shares during the last quarter.

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.

Analyst Recommendations for Opus Bank (NASDAQ:OPB)

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