Opus Bank (NASDAQ:OPB) Rating Increased to Hold at BidaskClub

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

OPB has been the topic of a number of other reports. Zacks Investment Research raised Opus Bank from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a report on Thursday, January 30th. Stephens lowered Opus Bank from an “overweight” rating to an “equal weight” rating in a report on Thursday, February 6th. Piper Sandler raised Opus Bank from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $26.00 to $33.00 in a report on Wednesday, February 5th. TheStreet raised Opus Bank from a “c” rating to a “b-” rating in a report on Monday, October 28th. Finally, Keefe, Bruyette & Woods raised Opus Bank from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $27.00 to $29.00 in a report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. Opus Bank currently has an average rating of “Hold” and a consensus target price of $29.20.

Shares of NASDAQ OPB opened at $27.86 on Tuesday. Opus Bank has a fifty-two week low of $17.94 and a fifty-two week high of $28.37. The firm’s 50-day simple moving average is $26.27 and its 200 day simple moving average is $24.06. The company has a quick ratio of 0.97, a current ratio of 0.96 and a debt-to-equity ratio of 0.31. The stock has a market cap of $958.47 million, a P/E ratio of 17.30 and a beta of 1.31.

Opus Bank (NASDAQ:OPB) last released its earnings results on Monday, January 27th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.14. The firm had revenue of $63.46 million for the quarter, compared to analyst estimates of $61.40 million. Opus Bank had a return on equity of 6.47% and a net margin of 18.91%. On average, sell-side analysts anticipate that Opus Bank will post 1.6 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the stock. Aigen Investment Management LP purchased a new position in Opus Bank in the 4th quarter worth about $68,000. Meeder Asset Management Inc. purchased a new position in Opus Bank in the 4th quarter worth about $92,000. Bank of Montreal Can increased its stake in Opus Bank by 17.7% in the 4th quarter. Bank of Montreal Can now owns 4,558 shares of the financial services provider’s stock worth $117,000 after purchasing an additional 684 shares in the last quarter. Voya Investment Management LLC purchased a new position in Opus Bank in the 3rd quarter worth about $200,000. Finally, State of Tennessee Treasury Department increased its stake in Opus Bank by 8.5% in the 3rd quarter. State of Tennessee Treasury Department now owns 9,628 shares of the financial services provider’s stock worth $210,000 after purchasing an additional 757 shares in the last quarter. 97.28% of the stock is currently owned by hedge funds and other institutional investors.

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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