Emerald Advisers Inc. PA boosted its stake in shares of Opus Bank (NASDAQ:OPB) by 5.8% during the second quarter, Holdings Channel reports. The firm owned 743,436 shares of the company’s stock after buying an additional 40,635 shares during the period. Opus Bank makes up approximately 1.2% of Emerald Advisers Inc. PA’s investment portfolio, making the stock its 13th largest position. Emerald Advisers Inc. PA’s holdings in Opus Bank were worth $25,128,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of the stock. Cutler Group LP purchased a new stake in Opus Bank during the second quarter valued at $169,000. Creative Planning bought a new position in shares of Opus Bank during the second quarter valued at approximately $199,000. BNP Paribas Arbitrage SA bought a new position in shares of Opus Bank during the second quarter valued at approximately $201,000. LaSalle Street Capital Management LLC bought a new position in shares of Opus Bank during the second quarter valued at approximately $263,000. Finally, Louisiana State Employees Retirement System bought a new position in shares of Opus Bank during the second quarter valued at approximately $281,000. 93.91% of the stock is owned by institutional investors and hedge funds.
Opus Bank (NASDAQ:OPB) traded up 1.29% during midday trading on Tuesday, reaching $35.21. 31,684 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $34.47 and its 200 day moving average is $34.75. The firm has a market capitalization of $1.21 billion, a P/E ratio of 18.56 and a beta of 0.51. Opus Bank has a 52 week low of $28.84 and a 52 week high of $41.49.
Opus Bank (NASDAQ:OPB) last issued its quarterly earnings results on Monday, July 25th. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by $0.18. Opus Bank had a return on equity of 7.45% and a net margin of 22.45%. On average, analysts expect that Opus Bank will post $2.29 EPS for the current fiscal year.
Several equities analysts have recently commented on the stock. Piper Jaffray Cos. restated an “overweight” rating and issued a $41.00 price objective (down from $45.00) on shares of Opus Bank in a report on Tuesday, June 28th. JPMorgan Chase & Co. restated a “buy” rating on shares of Opus Bank in a report on Sunday, July 10th. Credit Suisse Group AG restated a “buy” rating on shares of Opus Bank in a report on Tuesday, July 12th. TheStreet upgraded shares of Opus Bank from a “hold” rating to a “buy” rating in a report on Friday, July 15th. Finally, JMP Securities assumed coverage on shares of Opus Bank in a report on Friday, September 16th. They issued a “market perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company’s stock. Opus Bank presently has an average rating of “Buy” and a consensus target price of $41.80.
About Opus Bank
Opus Bank is a California-chartered commercial bank. The Company provides relationship-based banking products, services and solutions to small and mid-sized companies, entrepreneurs, real estate investors, professionals and individuals. It is organized into four lines of business: commercial banking operations, which is referred to as Commercial Bank; retail banking operations, which is referred to as Retail Bank; merchant banking operations, which is referred to as Merchant Bank and correspondent banking operations, which is referred to as Correspondent Bank.
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