Russell Investments Group Ltd. Sells 6,907 Shares of Opus Bank (NASDAQ:OPB)

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Russell Investments Group Ltd. lowered its position in Opus Bank (NASDAQ:OPB) by 9.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 68,860 shares of the financial services provider’s stock after selling 6,907 shares during the period. Russell Investments Group Ltd. owned 0.20% of Opus Bank worth $1,454,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of OPB. Castine Capital Management LLC purchased a new stake in Opus Bank in the first quarter valued at about $5,698,000. Hennessy Advisors Inc. grew its holdings in Opus Bank by 1.3% in the second quarter. Hennessy Advisors Inc. now owns 238,000 shares of the financial services provider’s stock valued at $5,024,000 after purchasing an additional 3,000 shares during the period. Aperio Group LLC grew its holdings in Opus Bank by 18.1% in the second quarter. Aperio Group LLC now owns 27,950 shares of the financial services provider’s stock valued at $590,000 after purchasing an additional 4,275 shares during the period. Acadian Asset Management LLC boosted its stake in shares of Opus Bank by 15.9% in the second quarter. Acadian Asset Management LLC now owns 25,587 shares of the financial services provider’s stock worth $540,000 after acquiring an additional 3,512 shares during the last quarter. Finally, Comerica Bank boosted its stake in shares of Opus Bank by 2.6% in the first quarter. Comerica Bank now owns 21,367 shares of the financial services provider’s stock worth $443,000 after acquiring an additional 544 shares during the last quarter. Hedge funds and other institutional investors own 96.01% of the company’s stock.

Shares of OPB stock traded down $0.18 during trading hours on Friday, reaching $21.85. 114,334 shares of the company’s stock were exchanged, compared to its average volume of 105,503. The company has a market cap of $749.02 million, a P/E ratio of 17.07 and a beta of 1.27. The company’s 50 day moving average is $20.97 and its two-hundred day moving average is $21.06. Opus Bank has a 1 year low of $17.79 and a 1 year high of $29.45. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.97.

Opus Bank (NASDAQ:OPB) last released its quarterly earnings results on Monday, July 29th. The financial services provider reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03. The business had revenue of $62.51 million for the quarter, compared to analysts’ expectations of $63.80 million. Opus Bank had a return on equity of 4.47% and a net margin of 7.32%. During the same quarter in the prior year, the firm posted $0.40 EPS. As a group, analysts predict that Opus Bank will post 1.39 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend was Wednesday, August 7th. Opus Bank’s dividend payout ratio (DPR) is 34.38%.

A number of brokerages recently commented on OPB. Hovde Group upgraded Opus Bank from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $21.50 to $24.00 in a research report on Friday, August 9th. ValuEngine upgraded Opus Bank from a “sell” rating to a “hold” rating in a report on Monday, July 29th. BidaskClub upgraded Opus Bank from a “sell” rating to a “hold” rating in a report on Thursday, September 12th. Finally, Zacks Investment Research cut Opus Bank from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $23.33.

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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Institutional Ownership by Quarter for Opus Bank (NASDAQ:OPB)

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