Opus Bank (NASDAQ:OPB) updated its third quarter earnings guidance on Monday. The company provided EPS guidance of $0.54 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.62.
A number of brokerages recently commented on OPB. Piper Jaffray Cos. reaffirmed an overweight rating and set a $41.00 price objective (down from $45.00) on shares of Opus Bank in a research note on Tuesday, June 28th. JPMorgan Chase & Co. reiterated a buy rating on shares of Opus Bank in a report on Sunday, July 10th. Credit Suisse Group AG lowered Opus Bank from an outperform rating to a neutral rating in a report on Monday. TheStreet upgraded Opus Bank from a hold rating to a buy rating in a report on Friday, July 15th. Finally, JMP Securities started coverage on Opus Bank in a report on Friday, September 16th. They set a market perform rating on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $41.80.
Shares of Opus Bank (NASDAQ:OPB) opened at 27.30 on Wednesday. The company has a market capitalization of $935.71 million, a price-to-earnings ratio of 14.39 and a beta of 0.51. The stock has a 50 day moving average price of $34.45 and a 200-day moving average price of $34.70. Opus Bank has a one year low of $26.55 and a one year high of $41.49.
Opus Bank (NASDAQ:OPB) last issued its earnings results on Monday, July 25th. The company reported $0.46 EPS for the quarter, missing the Thomson Reuters’ 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%. On average, equities research analysts expect that Opus Bank will post $2.29 EPS for the current year.
A number of institutional investors have recently made changes to their positions in OPB. BlackRock Fund Advisors boosted its position in shares of Opus Bank by 369.0% in the second quarter. BlackRock Fund Advisors now owns 1,144,873 shares of the company’s stock valued at $38,697,000 after buying an additional 900,768 shares during the last quarter. Vanguard Group Inc. boosted its position in Opus Bank by 27.9% in the second quarter. Vanguard Group Inc. now owns 766,794 shares of the company’s stock valued at $25,918,000 after buying an additional 167,422 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Opus Bank by 46.0% in the second quarter. Dimensional Fund Advisors LP now owns 551,291 shares of the company’s stock valued at $18,633,000 after buying an additional 173,761 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in Opus Bank by 58.4% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 474,228 shares of the company’s stock valued at $16,029,000 after buying an additional 174,847 shares in the last quarter. Finally, State Street Corp boosted its position in Opus Bank by 33.3% in the second quarter. State Street Corp now owns 401,445 shares of the company’s stock valued at $13,572,000 after buying an additional 100,374 shares in the last quarter. 93.90% of the stock is currently owned by institutional investors and hedge funds.
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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