Brokerages Set Opus Bank (OPB) PT at $31.50

Opus Bank (NASDAQ:OPB) has been given a consensus rating of “Hold” by the eight research firms that are currently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $31.00.

Several research firms have weighed in on OPB. BidaskClub raised Opus Bank from a “hold” rating to a “buy” rating in a report on Wednesday, April 4th. Hovde Group set a $30.00 target price on Opus Bank and gave the company a “hold” rating in a report on Friday. Zacks Investment Research raised Opus Bank from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a report on Wednesday, January 10th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $31.00 target price on shares of Opus Bank in a report on Tuesday, February 27th. Finally, Piper Jaffray reissued a “buy” rating and issued a $30.00 target price on shares of Opus Bank in a report on Tuesday, January 9th.

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Several large investors have recently modified their holdings of OPB. Municipal Employees Retirement System of Michigan lifted its position in shares of Opus Bank by 59.0% in the third quarter. Municipal Employees Retirement System of Michigan now owns 6,820 shares of the financial services provider’s stock valued at $164,000 after acquiring an additional 2,530 shares in the last quarter. Louisiana State Employees Retirement System purchased a new position in Opus Bank during the fourth quarter worth about $202,000. Teacher Retirement System of Texas purchased a new position in Opus Bank during the fourth quarter worth about $212,000. FDx Advisors Inc. purchased a new position in Opus Bank during the fourth quarter worth about $213,000. Finally, UBS Asset Management Americas Inc. purchased a new position in Opus Bank during the fourth quarter worth about $221,000. Institutional investors and hedge funds own 98.10% of the company’s stock.

Opus Bank stock opened at $28.05 on Wednesday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $954.59, a price-to-earnings ratio of 17.85 and a beta of 0.94. Opus Bank has a fifty-two week low of $18.75 and a fifty-two week high of $30.95.

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

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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.

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