Opus Bank (NASDAQ:OPB) Rating Increased to Outperform at Hovde Group

Opus Bank (NASDAQ:OPB) was upgraded by Hovde Group from a “market perform” rating to an “outperform” rating in a research note issued on Friday, Marketbeat reports. The firm presently has a $24.00 price target on the financial services provider’s stock, up from their previous price target of $21.50. Hovde Group’s target price suggests a potential upside of 16.17% from the stock’s current price.

Several other equities analysts have also commented on the company. ValuEngine upgraded Opus Bank from a “sell” rating to a “hold” rating in a research report on Monday, July 29th. BidaskClub upgraded Opus Bank from a “sell” rating to a “hold” rating in a research report on Tuesday, July 30th. Finally, Zacks Investment Research lowered Opus Bank from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $23.33.

Shares of Opus Bank stock traded down $0.15 during trading on Friday, hitting $20.66. 80,544 shares of the stock traded hands, compared to its average volume of 106,451. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.97 and a current ratio of 0.98. The company has a market capitalization of $713.28 million, a PE ratio of 17.49 and a beta of 1.27. The business has a fifty day simple moving average of $21.22. Opus Bank has a 52 week low of $17.79 and a 52 week high of $29.50.

Opus Bank (NASDAQ:OPB) last announced its quarterly earnings data on Monday, July 29th. The financial services provider reported $0.35 EPS for the quarter, beating the consensus estimate of $0.32 by $0.03. The firm had revenue of $62.51 million for the quarter, compared to analyst estimates of $63.80 million. Opus Bank had a return on equity of 4.47% and a net margin of 7.32%. During the same period in the prior year, the company earned $0.40 EPS. As a group, sell-side analysts expect that Opus Bank will post 1.39 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in the company. Versant Capital Management Inc boosted its holdings in Opus Bank by 163.1% during the 1st quarter. Versant Capital Management Inc now owns 1,334 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 827 shares during the period. Bank of Montreal Can boosted its holdings in Opus Bank by 122.3% during the 2nd quarter. Bank of Montreal Can now owns 3,373 shares of the financial services provider’s stock valued at $71,000 after acquiring an additional 1,856 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in Opus Bank by 11,397.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 4,139 shares of the financial services provider’s stock valued at $82,000 after acquiring an additional 4,103 shares during the period. Atria Investments LLC purchased a new stake in Opus Bank during the 2nd quarter valued at about $150,000. Finally, Municipal Employees Retirement System of Michigan purchased a new stake in Opus Bank during the 4th quarter valued at about $188,000. Hedge funds and other institutional investors own 96.19% of the company’s stock.

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.

Recommended Story: How are the companies in the S&P 500 selected?

Receive News & Ratings for Opus Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Opus Bank and related companies with MarketBeat.com's FREE daily email newsletter.