Several other research firms also recently commented on OPB. Zacks Investment Research downgraded Opus Bank from a strong-buy rating to a hold rating in a research note on Wednesday, August 7th. Hovde Group upgraded Opus Bank from a market perform rating to an outperform rating and upped their price objective for the company from $21.50 to $24.00 in a research note on Friday, August 9th. Finally, ValuEngine upgraded Opus Bank from a sell rating to a hold rating in a research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. Opus Bank currently has an average rating of Hold and an average price target of $23.33.
Opus Bank stock opened at $20.29 on Wednesday. Opus Bank has a 12 month low of $17.79 and a 12 month high of $29.50. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.47. The business’s 50 day simple moving average is $21.09 and its 200 day simple moving average is $21.18. The company has a market cap of $705.74 million, a price-to-earnings ratio of 17.30 and a beta of 1.27.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were issued a dividend of $0.11 per share. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.44 dividend on an annualized basis and a yield of 2.17%. Opus Bank’s payout ratio is 34.38%.
Hedge funds have recently modified their holdings of the business. SG Americas Securities LLC raised its holdings in Opus Bank by 21.1% during the 1st quarter. SG Americas Securities LLC now owns 27,837 shares of the financial services provider’s stock valued at $551,000 after acquiring an additional 4,857 shares during the period. Castine Capital Management LLC bought a new position in shares of Opus Bank in the first quarter worth $5,698,000. Comerica Bank increased its holdings in shares of Opus Bank by 2.6% in the first quarter. Comerica Bank now owns 21,367 shares of the financial services provider’s stock worth $443,000 after purchasing an additional 544 shares during the period. Versant Capital Management Inc increased its holdings in shares of Opus Bank by 163.1% in the first quarter. Versant Capital Management Inc now owns 1,334 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 827 shares during the period. Finally, Millennium Management LLC bought a new position in shares of Opus Bank in the fourth quarter worth $618,000. 92.68% of the stock is currently owned by institutional investors and hedge funds.
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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