Symons Capital Management Inc. lessened its stake in Opus Bank (NASDAQ:OPB) by 55.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,073 shares of the financial services provider’s stock after selling 19,004 shares during the quarter. Symons Capital Management Inc.’s holdings in Opus Bank were worth $411,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Municipal Employees Retirement System of Michigan lifted its stake in Opus Bank by 59.0% in the third quarter. Municipal Employees Retirement System of Michigan now owns 6,820 shares of the financial services provider’s stock valued at $164,000 after acquiring an additional 2,530 shares during the last quarter. Louisiana State Employees Retirement System bought a new position in shares of Opus Bank in the fourth quarter valued at about $202,000. Teacher Retirement System of Texas bought a new position in Opus Bank during the fourth quarter worth about $212,000. FDx Advisors Inc. bought a new position in Opus Bank during the fourth quarter worth about $213,000. Finally, UBS Asset Management Americas Inc. bought a new position in Opus Bank during the fourth quarter worth about $221,000. Institutional investors own 98.18% of the company’s stock.
Opus Bank (NASDAQ:OPB) opened at $29.30 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.90. The firm has a market cap of $1,006.00, a P/E ratio of 18.81 and a beta of 0.96. Opus Bank has a 52-week low of $18.45 and a 52-week high of $29.90.
The firm also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Thursday, February 1st were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend was Wednesday, January 31st. Opus Bank’s payout ratio is 31.75%.
OPB has been the topic of a number of recent research reports. Zacks Investment Research lowered shares of Opus Bank from a “buy” rating to a “sell” rating in a research report on Wednesday, February 28th. Piper Jaffray Companies downgraded shares of Opus Bank from an “overweight” rating to a “neutral” rating in a research note on Tuesday, January 23rd. BidaskClub upgraded shares of Opus Bank from a “sell” rating to a “hold” rating in a research report on Monday, February 5th. ValuEngine upgraded shares of Opus Bank from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $31.00 price target on shares of Opus Bank in a report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $31.00.
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About Opus Bank
Opus Bank is a commercial bank. The Company provides banking products, services and solutions to its clients through its Retail Bank, Commercial Bank, Merchant Bank, and Correspondent Bank. The Company’s Commercial Bank consists Commercial Banking, Business Banking, Healthcare Banking, Technology Banking, Fiduciary Banking, Institutional Syndications and Commercial Real Estate Banking (CREB), which includes Income Property Banking, its Structured Finance Group and Capital Markets Group.
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