ValuEngine Upgrades Opus Bank (OPB) to Buy

ValuEngine upgraded shares of Opus Bank (NASDAQ:OPB) from a hold rating to a buy rating in a report published on Friday morning.

Other equities research analysts also recently issued reports about the stock. TheStreet raised shares of Opus Bank from a c+ rating to a b- rating in a research note on Wednesday, October 25th. Piper Jaffray Companies reissued a buy rating and set a $27.00 target price on shares of Opus Bank in a research report on Friday, October 6th. Zacks Investment Research raised shares of Opus Bank from a hold rating to a buy rating and set a $31.00 target price for the company in a research report on Wednesday, January 10th. FIG Partners started coverage on shares of Opus Bank in a research report on Thursday, November 9th. They set an outperform rating and a $32.00 target price for the company. Finally, BidaskClub downgraded shares of Opus Bank from a hold rating to a sell rating in a research report on Friday, December 29th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $29.25.

Shares of Opus Bank (NASDAQ OPB) opened at $27.80 on Friday. Opus Bank has a 52 week low of $18.45 and a 52 week high of $29.90. The company has a quick ratio of 0.90, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. The firm has a market cap of $952.87, a price-to-earnings ratio of 22.06 and a beta of 1.07.

Opus Bank (NASDAQ:OPB) last posted its quarterly earnings results on Monday, January 22nd. The financial services provider reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.14). Opus Bank had a net margin of 15.45% and a return on equity of 5.98%. The company had revenue of $64.60 million during the quarter, compared to the consensus estimate of $67.30 million. During the same period last year, the firm posted ($0.55) earnings per share. The company’s revenue for the quarter was down 25.8% on a year-over-year basis. equities research analysts predict that Opus Bank will post 1.92 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Thursday, February 1st will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.44%. The ex-dividend date is Wednesday, January 31st. Opus Bank’s payout ratio is presently 31.75%.

Several large investors have recently bought and sold shares of the company. Engineers Gate Manager LP increased its position in shares of Opus Bank by 65.2% during the fourth quarter. Engineers Gate Manager LP now owns 28,877 shares of the financial services provider’s stock worth $788,000 after acquiring an additional 11,393 shares in the last quarter. Foundry Partners LLC increased its position in shares of Opus Bank by 12.8% during the fourth quarter. Foundry Partners LLC now owns 267,740 shares of the financial services provider’s stock worth $7,309,000 after acquiring an additional 30,470 shares in the last quarter. Hennessy Advisors Inc. increased its position in shares of Opus Bank by 7.6% during the fourth quarter. Hennessy Advisors Inc. now owns 355,000 shares of the financial services provider’s stock worth $9,692,000 after acquiring an additional 25,000 shares in the last quarter. Bank of Montreal Can increased its position in shares of Opus Bank by 21.1% during the fourth quarter. Bank of Montreal Can now owns 10,102 shares of the financial services provider’s stock worth $276,000 after acquiring an additional 1,762 shares in the last quarter. Finally, Convergence Investment Partners LLC bought a new stake in shares of Opus Bank during the fourth quarter worth about $1,192,000. 98.51% of the stock is owned by institutional investors.

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About Opus Bank

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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