Opus Bank (OPB) Posts Quarterly Earnings Results

Opus Bank (NASDAQ:OPB) released its quarterly earnings data on Monday, July 24th. The financial services provider reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.22, MarketWatch Earnings reports. The firm had revenue of $79.83 million for the quarter, compared to the consensus estimate of $71.47 million. Opus Bank had a net margin of 1.15% and a return on equity of 2.76%. The business’s quarterly revenue was down 49.3% on a year-over-year basis.

Opus Bank (NASDAQ:OPB) opened at 23.05 on Friday. Opus Bank has a 52 week low of $18.20 and a 52 week high of $35.90. The stock has a market cap of $861.82 million, a P/E ratio of 215.42 and a beta of 1.07. The company’s 50 day moving average is $23.77 and its 200 day moving average is $22.11.

Several institutional investors have recently made changes to their positions in OPB. Dimensional Fund Advisors LP boosted its position in shares of Opus Bank by 40.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,110,901 shares of the financial services provider’s stock valued at $26,884,000 after buying an additional 321,314 shares in the last quarter. Parametric Portfolio Associates LLC boosted its position in shares of Opus Bank by 40.9% in the second quarter. Parametric Portfolio Associates LLC now owns 59,286 shares of the financial services provider’s stock valued at $1,435,000 after buying an additional 17,222 shares in the last quarter. California Public Employees Retirement System boosted its position in shares of Opus Bank by 40.7% in the second quarter. California Public Employees Retirement System now owns 24,900 shares of the financial services provider’s stock valued at $603,000 after buying an additional 7,200 shares in the last quarter. Northern Trust Corp boosted its position in shares of Opus Bank by 16.2% in the second quarter. Northern Trust Corp now owns 258,092 shares of the financial services provider’s stock valued at $6,247,000 after buying an additional 36,004 shares in the last quarter. Finally, Citigroup Inc. boosted its position in shares of Opus Bank by 36.4% in the second quarter. Citigroup Inc. now owns 27,783 shares of the financial services provider’s stock valued at $673,000 after buying an additional 7,409 shares in the last quarter. 91.73% of the stock is currently owned by institutional investors.

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OPB has been the topic of several recent research reports. Zacks Investment Research downgraded shares of Opus Bank from a “hold” rating to a “strong sell” rating in a report on Friday, April 28th. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $24.00 price target (down previously from $25.00) on shares of Opus Bank in a report on Monday, April 17th. ValuEngine downgraded shares of Opus Bank from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. TheStreet raised shares of Opus Bank from a “c” rating to a “b-” rating in a report on Thursday, July 13th. Finally, BidaskClub downgraded shares of Opus Bank from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. Opus Bank currently has an average rating of “Hold” and an average target price of $27.67.

Opus Bank Company Profile

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.

Earnings History for Opus Bank (NASDAQ:OPB)

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