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.
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.
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