Principal Financial Group Inc. Trims Stake in Opus Bank (OPB)

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Principal Financial Group Inc. reduced its stake in shares of Opus Bank (NASDAQ:OPB) by 0.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 193,115 shares of the financial services provider’s stock after selling 1,473 shares during the period. Principal Financial Group Inc.’s holdings in Opus Bank were worth $3,783,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in OPB. Shoals Capital Management LP bought a new position in Opus Bank in the 4th quarter worth approximately $11,754,000. BlackRock Inc. boosted its holdings in Opus Bank by 19.4% in the 3rd quarter. BlackRock Inc. now owns 3,107,763 shares of the financial services provider’s stock worth $85,153,000 after buying an additional 504,052 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Opus Bank by 8.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,327,935 shares of the financial services provider’s stock worth $63,785,000 after buying an additional 186,823 shares during the period. WINTON GROUP Ltd bought a new position in Opus Bank in the 4th quarter worth approximately $3,022,000. Finally, Peregrine Capital Management LLC boosted its holdings in Opus Bank by 81.7% in the 4th quarter. Peregrine Capital Management LLC now owns 297,773 shares of the financial services provider’s stock worth $5,833,000 after buying an additional 133,873 shares during the period. 97.74% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:OPB opened at $21.64 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.13. Opus Bank has a one year low of $17.79 and a one year high of $30.70. The firm has a market capitalization of $722.88 million, a price-to-earnings ratio of 16.91 and a beta of 1.25.

Opus Bank (NASDAQ:OPB) last announced its quarterly earnings results on Monday, January 28th. The financial services provider reported $0.27 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.01). Opus Bank had a net margin of 10.74% and a return on equity of 4.79%. The firm had revenue of $53.81 million during the quarter, compared to the consensus estimate of $62.95 million. During the same period in the previous year, the business earned $0.26 earnings per share. On average, equities analysts expect that Opus Bank will post 1.34 earnings per share for the current fiscal year.

OPB has been the subject of several analyst reports. Zacks Investment Research raised shares of Opus Bank from a “sell” rating to a “hold” rating in a report on Wednesday, April 3rd. BidaskClub downgraded shares of Opus Bank from a “hold” rating to a “sell” rating in a report on Tuesday, March 26th. Finally, ValuEngine downgraded shares of Opus Bank from a “hold” rating to a “sell” rating in a report on Wednesday, March 20th. One analyst has rated the stock with a sell rating and three have issued a hold rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $20.00.

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Opus Bank Company Profile

Opus Bank provides various banking products, services, and solutions for small and mid-sized companies, entrepreneurs, real estate investors, professionals, and high net worth individuals. The company accepts demand deposits, checking accounts, money market accounts, savings accounts, and certificates of deposit.

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Institutional Ownership by Quarter for Opus Bank (NASDAQ:OPB)

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