Opus Bank (OPB) Given a $30.00 Price Target by Hovde Group Analysts

Hovde Group set a $30.00 target price on Opus Bank (NASDAQ:OPB) in a report published on Friday. The brokerage currently has a hold rating on the financial services provider’s stock.

Several other brokerages have also weighed in on OPB. Zacks Investment Research raised shares of Opus Bank from a hold rating to a buy rating and set a $31.00 price objective for the company in a report on Wednesday, January 10th. Piper Jaffray reissued a buy rating and set a $30.00 price objective on shares of Opus Bank in a report on Tuesday, January 9th. ValuEngine raised shares of Opus Bank from a hold rating to a buy rating in a report on Friday, February 2nd. BidaskClub raised shares of Opus Bank from a hold rating to a buy rating in a report on Tuesday, March 20th. Finally, Keefe, Bruyette & Woods reissued a hold rating and set a $31.00 price objective on shares of Opus Bank in a report on Tuesday, February 27th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Opus Bank currently has a consensus rating of Hold and a consensus target price of $30.80.

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Opus Bank stock traded down $1.00 during midday trading on Friday, hitting $27.85. 188,694 shares of the stock were exchanged, compared to its average volume of 194,586. Opus Bank has a 1 year low of $18.75 and a 1 year high of $30.95. The company has a market capitalization of $988.86, a price-to-earnings ratio of 18.49 and a beta of 0.94. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.94.

Opus Bank (NASDAQ:OPB) last released its quarterly earnings results on Monday, January 22nd. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.14). Opus Bank had a return on equity of 5.98% and a net margin of 15.45%. The firm had revenue of $64.60 million for the quarter, compared to analysts’ expectations of $67.30 million. During the same period last year, the firm earned ($0.55) EPS. The business’s quarterly revenue was down 25.8% on a year-over-year basis. analysts forecast that Opus Bank will post 1.92 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in OPB. Municipal Employees Retirement System of Michigan grew its holdings in Opus Bank by 59.0% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 6,820 shares of the financial services provider’s stock worth $164,000 after acquiring an additional 2,530 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in Opus Bank during the 4th quarter worth $202,000. Teacher Retirement System of Texas acquired a new position in Opus Bank during the 4th quarter worth $212,000. FDx Advisors Inc. acquired a new position in Opus Bank during the 4th quarter worth $213,000. Finally, UBS Asset Management Americas Inc. acquired a new position in Opus Bank during the 4th quarter worth $221,000. 98.10% of the stock is owned by institutional investors.

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Opus Bank Company Profile

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.

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