Opus Bank (NASDAQ:OPB) Downgraded by BidaskClub to “Strong Sell”

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BidaskClub cut shares of Opus Bank (NASDAQ:OPB) from a sell rating to a strong sell rating in a research note released on Wednesday morning, BidAskClub reports.

A number of other equities research analysts also recently weighed in on the company. Zacks Investment Research downgraded ExlService from a hold rating to a sell rating in a report on Wednesday, July 10th. ValuEngine downgraded Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd. Three analysts have rated the stock with a sell rating and one has assigned a hold rating to the company. Opus Bank currently has a consensus rating of Sell and a consensus target price of $20.00.

Shares of OPB opened at $20.98 on Wednesday. Opus Bank has a 12-month low of $17.79 and a 12-month high of $30.00. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $713.28 million, a price-to-earnings ratio of 16.39 and a beta of 1.25. The firm’s 50-day moving average price is $20.85.

Opus Bank (NASDAQ:OPB) last issued its quarterly earnings results on Monday, April 29th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.01). The firm had revenue of $61.90 million for 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 quarter in the prior year, the firm earned $0.34 earnings per share. On average, equities research analysts expect that Opus Bank will post 1.32 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Texas Permanent School Fund boosted its holdings in shares of Opus Bank by 3.6% in the 1st quarter. Texas Permanent School Fund now owns 14,669 shares of the financial services provider’s stock worth $290,000 after acquiring an additional 511 shares in the last quarter. Comerica Bank boosted its stake in shares of Opus Bank by 2.6% during the 1st quarter. Comerica Bank now owns 21,367 shares of the financial services provider’s stock worth $443,000 after buying an additional 544 shares during the last quarter. Versant Capital Management Inc boosted its stake 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 last quarter. Northern Trust Corp boosted its stake in shares of Opus Bank by 0.3% during the 4th quarter. Northern Trust Corp now owns 265,542 shares of the financial services provider’s stock worth $5,201,000 after buying an additional 887 shares during the last quarter. Finally, United Services Automobile Association boosted its stake in shares of Opus Bank by 26.5% during the 4th quarter. United Services Automobile Association now owns 11,342 shares of the financial services provider’s stock worth $222,000 after buying an additional 2,373 shares during the last quarter. 97.02% of the stock is currently owned by institutional investors and hedge funds.

Opus Bank Company Profile

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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