Brokerages Anticipate Opus Bank (NASDAQ:OPB) to Post $0.36 EPS

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Wall Street analysts expect Opus Bank (NASDAQ:OPB) to post $0.36 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Opus Bank’s earnings, with the highest EPS estimate coming in at $0.37 and the lowest estimate coming in at $0.34. Opus Bank reported earnings of $0.25 per share during the same quarter last year, which would suggest a positive year over year growth rate of 44%. The business is scheduled to issue its next earnings results on Monday, October 28th.

On average, analysts expect that Opus Bank will report full year earnings of $1.24 per share for the current financial year, with EPS estimates ranging from $1.22 to $1.25. For the next financial year, analysts forecast that the firm will report earnings of $1.73 per share, with EPS estimates ranging from $1.60 to $1.85. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that follow Opus Bank.

Opus Bank (NASDAQ:OPB) last posted its quarterly earnings data on Monday, July 29th. The financial services provider reported $0.35 EPS for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.03. Opus Bank had a net margin of 7.32% and a return on equity of 4.47%. The company had revenue of $62.51 million during the quarter, compared to the consensus estimate of $63.80 million. During the same quarter in the prior year, the company posted $0.40 EPS.

A number of research analysts have recently commented on the stock. Hovde Group raised shares of Opus Bank from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $21.50 to $24.00 in a research note on Friday, August 9th. ValuEngine raised shares of Opus Bank from a “sell” rating to a “hold” rating in a research note on Monday, July 29th. Zacks Investment Research downgraded shares of Opus Bank from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Finally, BidaskClub raised shares of Opus Bank from a “sell” rating to a “hold” rating in a research note on Tuesday, July 30th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $23.33.

Shares of NASDAQ OPB traded down $0.25 on Thursday, reaching $20.47. 304 shares of the company traded hands, compared to its average volume of 98,367. Opus Bank has a fifty-two week low of $17.79 and a fifty-two week high of $29.50. The company has a 50 day moving average of $21.14 and a 200 day moving average of $21.18. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $705.83 million, a PE ratio of 15.99 and a beta of 1.27.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Thursday, August 8th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date is Wednesday, August 7th. Opus Bank’s dividend payout ratio (DPR) is presently 34.38%.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Texas Permanent School Fund increased its position in Opus Bank by 3.6% during the 1st quarter. Texas Permanent School Fund now owns 14,669 shares of the financial services provider’s stock worth $290,000 after purchasing an additional 511 shares in the last quarter. Comerica Bank increased its position in 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 purchasing an additional 544 shares in the last quarter. United Services Automobile Association increased its position in Opus Bank by 5.8% during the 2nd quarter. United Services Automobile Association now owns 13,655 shares of the financial services provider’s stock worth $288,000 after purchasing an additional 747 shares in the last quarter. Versant Capital Management Inc increased its position in 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 purchasing an additional 827 shares in the last quarter. Finally, Northern Trust Corp increased its position in 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 purchasing an additional 887 shares in the last quarter. 92.68% of the stock is owned by hedge funds and other institutional investors.

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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Earnings History and Estimates for Opus Bank (NASDAQ:OPB)

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