Opus Bank (NASDAQ:OPB) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Opus Bank (NASDAQ:OPB) from a hold rating to a sell rating in a report issued on Wednesday morning, Zacks.com reports.

According to Zacks, “Opus Bank is a state-charted commercial bank. The Bank accepts deposits, loans, and provides other services for the public. It provides relationship-based banking products, services and loan products for small to mid-sized commercial businesses, entrepreneurs, real estate investors, professionals and consumers. Opus Bank is headquartered in Irvine, California. “

A number of other analysts also recently issued reports on OPB. ValuEngine downgraded Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. BidaskClub downgraded Xencor from a sell rating to a strong sell rating in a research report on Tuesday, June 11th. Three investment analysts have rated the stock with a sell rating and one has given a hold rating to the stock. The company currently has a consensus rating of Sell and an average price target of $20.00.

OPB stock opened at $21.08 on Wednesday. Opus Bank has a twelve month low of $17.79 and a twelve 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 firm has a 50 day moving average of $20.84. The company has a market capitalization of $722.54 million, a price-to-earnings ratio of 17.00 and a beta of 1.25.

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

A number of large investors have recently bought and sold shares of the stock. First Trust Advisors LP lifted its stake in Opus Bank by 36.9% during the fourth quarter. First Trust Advisors LP now owns 116,490 shares of the financial services provider’s stock worth $2,282,000 after purchasing an additional 31,408 shares during the last quarter. SG Americas Securities LLC lifted its stake in Opus Bank by 21.1% during the first quarter. SG Americas Securities LLC now owns 27,837 shares of the financial services provider’s stock worth $551,000 after purchasing an additional 4,857 shares during the last quarter. BlackRock Inc. lifted its stake in Opus Bank by 4.6% during the fourth quarter. BlackRock Inc. now owns 3,251,017 shares of the financial services provider’s stock worth $63,688,000 after purchasing an additional 143,254 shares during the last quarter. Castine Capital Management LLC purchased a new position in shares of Opus Bank in the first quarter worth about $5,698,000. Finally, Oregon Public Employees Retirement Fund purchased a new position in shares of Opus Bank in the fourth quarter worth about $161,000. 96.93% of the stock is owned by institutional investors.

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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