Opus Bank (NASDAQ:OPB) Upgraded at Zacks Investment Research

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Opus Bank (NASDAQ:OPB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “Opus Bank is a state-charted commercial bank. The Bank accepts deposits, loans, and provides other services for the public. It provides relationship-based banking products, services and loan products for small to mid-sized commercial businesses, entrepreneurs, real estate investors, professionals and consumers. Opus Bank is headquartered in Irvine, California. “

Several other analysts have also recently issued reports on the company. ValuEngine raised Opus Bank from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. BidaskClub cut Opus Bank from a “hold” rating to a “sell” rating in a report on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Opus Bank currently has a consensus rating of “Hold” and an average price target of $20.00.

OPB stock opened at $20.64 on Tuesday. Opus Bank has a 1-year low of $17.79 and a 1-year high of $30.70. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $709.25 million, a price-to-earnings ratio of 16.13 and a beta of 1.26.

Opus Bank (NASDAQ:OPB) last posted its quarterly earnings results on Monday, April 29th. The financial services provider reported $0.28 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.01). Opus Bank had a return on equity of 4.71% and a net margin of 9.89%. The business had revenue of $61.90 million during the quarter, compared to the consensus estimate of $62.55 million. During the same quarter in the previous year, the company earned $0.34 earnings per share. On average, sell-side analysts expect that Opus Bank will post 1.34 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the stock. Marshall Wace LLP purchased a new stake in Opus Bank during the 1st quarter valued at $405,000. Hotchkis & Wiley Capital Management LLC purchased a new stake in Opus Bank during the 1st quarter valued at $2,532,000. Premia Global Advisors LLC purchased a new stake in Opus Bank during the 1st quarter valued at $25,000. SEI Investments Co raised its holdings in Opus Bank by 27.8% during the 1st quarter. SEI Investments Co now owns 262,720 shares of the financial services provider’s stock valued at $5,202,000 after buying an additional 57,091 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in Opus Bank by 20.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 195,281 shares of the financial services provider’s stock valued at $3,867,000 after buying an additional 32,566 shares during the period. Institutional investors own 97.02% of the company’s stock.

About Opus Bank

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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