Opus Bank (OPB) Upgraded to Hold at ValuEngine

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Opus Bank (NASDAQ:OPB) was upgraded by stock analysts at ValuEngine from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday, ValuEngine reports.

Other analysts also recently issued research reports about the stock. BidaskClub raised shares of Opus Bank from a “hold” rating to a “buy” rating in a report on Friday, March 1st. Zacks Investment Research raised shares of Opus Bank from a “sell” rating to a “hold” rating in a report on Wednesday, April 3rd. One analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $20.00.

Shares of OPB traded up $0.36 during midday trading on Wednesday, reaching $22.19. The stock had a trading volume of 2,777 shares, compared to its average volume of 141,362. Opus Bank has a one year low of $17.79 and a one year high of $30.70. The company has a market cap of $749.62 million, a PE ratio of 17.20 and a beta of 1.28. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.96 and a quick ratio of 0.90.

Opus Bank (NASDAQ:OPB) last announced its quarterly earnings data on Monday, April 29th. The financial services provider reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.01). The firm had revenue of $61.90 million during the quarter, compared to the consensus estimate of $62.55 million. Opus Bank had a net margin of 9.89% and a return on equity of 4.71%. During the same period last year, the business earned $0.34 EPS. Analysts expect that Opus Bank will post 1.32 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in OPB. Versant Capital Management Inc boosted its holdings in shares of Opus Bank by 163.1% during the 1st quarter. Versant Capital Management Inc now owns 1,334 shares of the financial services provider’s stock worth $26,000 after buying an additional 827 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in shares of Opus Bank by 11,397.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 4,139 shares of the financial services provider’s stock worth $82,000 after buying an additional 4,103 shares during the period. State of Alaska Department of Revenue boosted its holdings in shares of Opus Bank by 13.1% during the 4th quarter. State of Alaska Department of Revenue now owns 7,204 shares of the financial services provider’s stock worth $141,000 after buying an additional 835 shares during the period. Oregon Public Employees Retirement Fund bought a new stake in shares of Opus Bank during the 4th quarter worth about $161,000. Finally, Municipal Employees Retirement System of Michigan bought a new stake in shares of Opus Bank during the 4th quarter worth about $188,000. 96.48% of the stock is owned by institutional investors and hedge funds.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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