OPB has been the subject of a number of other research reports. Credit Suisse Group AG restated a buy rating on shares of Opus Bank in a research note on Tuesday, July 12th. Piper Jaffray Cos. restated an overweight rating and issued a $41.00 target price (down previously from $45.00) on shares of Opus Bank in a research note on Tuesday, June 28th. TheStreet upgraded Opus Bank from a hold rating to a buy rating in a research note on Friday, July 15th. JPMorgan Chase & Co. lowered their target price on Opus Bank from $39.00 to $38.00 and set an overweight rating for the company in a research note on Thursday, July 7th. Finally, Hovde Group began coverage on Opus Bank in a research note on Friday, June 3rd. They issued an outperform rating and a $44.00 target price for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $41.80.
Opus Bank (NASDAQ:OPB) opened at 35.06 on Friday. Opus Bank has a 52 week low of $28.84 and a 52 week high of $41.49. The company has a market cap of $1.20 billion, a P/E ratio of 18.48 and a beta of 0.51. The firm has a 50-day moving average price of $34.00 and a 200-day moving average price of $34.72.
Opus Bank (NASDAQ:OPB) last released its earnings results on Monday, July 25th. The company reported $0.46 EPS for the quarter, missing the Zacks’ consensus estimate of $0.64 by $0.18. Opus Bank had a net margin of 22.45% and a return on equity of 7.45%. Equities research analysts anticipate that Opus Bank will post $2.29 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp boosted its position in shares of Opus Bank by 13.5% in the first quarter. State Street Corp now owns 301,071 shares of the company’s stock worth $10,233,000 after buying an additional 35,774 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Opus Bank by 5.5% in the first quarter. JPMorgan Chase & Co. now owns 23,476 shares of the company’s stock valued at $798,000 after buying an additional 1,229 shares in the last quarter. Teachers Retirement System of The State of Kentucky acquired a new position in Opus Bank during the second quarter valued at $223,000. Aristotle Capital Boston LLC boosted its position in Opus Bank by 14.5% in the second quarter. Aristotle Capital Boston LLC now owns 140,032 shares of the company’s stock valued at $4,733,000 after buying an additional 17,712 shares in the last quarter. Finally, TIAA CREF Investment Management LLC boosted its position in Opus Bank by 40.0% in the first quarter. TIAA CREF Investment Management LLC now owns 192,678 shares of the company’s stock valued at $6,551,000 after buying an additional 55,089 shares in the last quarter. Institutional investors and hedge funds own 93.91% of the company’s stock.
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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