Opus Bank (NASDAQ:OPB) Upgraded to Strong-Buy by BidaskClub

BidaskClub upgraded shares of Opus Bank (NASDAQ:OPB) from a buy rating to a strong-buy rating in a research note released on Friday morning, BidAskClub reports.

Other equities analysts have also recently issued research reports about the company. Zacks Investment Research cut Opus Bank from a hold rating to a sell rating in a report on Tuesday, October 15th. TheStreet raised Opus Bank from a c rating to a b- rating in a report on Monday, October 28th. ValuEngine cut Opus Bank from a hold rating to a sell rating in a report on Monday, October 21st. Finally, Hovde Group raised Opus Bank from a market perform rating to an outperform rating and upped their price target for the stock from $21.50 to $24.00 in a report on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, one has given a buy rating and one has issued a strong buy rating to the company. Opus Bank presently has an average rating of Hold and an average target price of $25.00.

Shares of NASDAQ:OPB traded up $0.12 on Friday, reaching $25.98. The company had a trading volume of 1,025,800 shares, compared to its average volume of 324,032. The firm has a market capitalization of $881.92 million, a PE ratio of 20.30 and a beta of 1.33. The firm’s 50 day simple moving average is $23.50 and its 200-day simple moving average is $21.71. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.32. Opus Bank has a 52-week low of $17.79 and a 52-week high of $26.26.

Opus Bank (NASDAQ:OPB) last issued its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.23. The business had revenue of $62.63 million during the quarter, compared to analysts’ expectations of $63.70 million. Opus Bank had a return on equity of 5.67% and a net margin of 11.12%. During the same quarter in the previous year, the firm posted $0.25 EPS. As a group, equities research analysts predict that Opus Bank will post 1.63 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be issued a $0.11 dividend. The ex-dividend date is Wednesday, November 6th. This represents a $0.44 dividend on an annualized basis and a yield of 1.69%. Opus Bank’s payout ratio is 34.38%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. United Services Automobile Association raised its holdings in Opus Bank by 5.8% in the 2nd quarter. United Services Automobile Association now owns 13,655 shares of the financial services provider’s stock worth $288,000 after purchasing an additional 747 shares during the period. State of Tennessee Treasury Department increased its stake in Opus Bank by 8.5% during the 3rd quarter. State of Tennessee Treasury Department now owns 9,628 shares of the financial services provider’s stock worth $210,000 after buying an additional 757 shares in the last quarter. Teton Advisors Inc. increased its stake in Opus Bank by 7.7% during the 3rd quarter. Teton Advisors Inc. now owns 14,000 shares of the financial services provider’s stock worth $305,000 after buying an additional 1,000 shares in the last quarter. Summit Global Investments increased its stake in Opus Bank by 3.8% during the 2nd quarter. Summit Global Investments now owns 33,100 shares of the financial services provider’s stock worth $699,000 after buying an additional 1,200 shares in the last quarter. Finally, Bank of Montreal Can increased its stake 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 worth $71,000 after buying an additional 1,856 shares in the last quarter. 93.71% of the stock is owned by institutional investors.

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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