Opus Bank’s (OPB) “Buy” Rating Reiterated at Piper Jaffray Companies

Piper Jaffray Companies restated their buy rating on shares of Opus Bank (NASDAQ:OPB) in a research note issued to investors on Friday morning. The firm currently has a $27.00 price target on the financial services provider’s stock.

OPB has been the topic of several other reports. Keefe, Bruyette & Woods reissued a hold rating and issued a $24.00 price objective on shares of Opus Bank in a research report on Tuesday, August 29th. TheStreet lowered shares of Opus Bank from a b- rating to a c+ rating in a research report on Wednesday, August 23rd. BidaskClub lowered shares of Opus Bank from a hold rating to a sell rating in a research report on Wednesday, July 19th. ValuEngine raised shares of Opus Bank from a sell rating to a hold rating in a research report on Tuesday, July 25th. Finally, Zacks Investment Research lowered shares of Opus Bank from a hold rating to a sell rating in a research report on Saturday, July 8th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $27.33.

Shares of Opus Bank (NASDAQ OPB) opened at 24.40 on Friday. Opus Bank has a 52-week low of $18.20 and a 52-week high of $35.56. The stock has a market cap of $912.29 million, a P/E ratio of 228.04 and a beta of 1.09. The firm has a 50-day moving average of $22.82 and a 200-day moving average of $22.44.

Opus Bank (NASDAQ:OPB) last posted its quarterly earnings results on Monday, July 24th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.22. Opus Bank had a net margin of 1.15% and a return on equity of 2.76%. The firm had revenue of $79.83 million for the quarter, compared to analyst estimates of $71.47 million. Opus Bank’s revenue for the quarter was down 49.3% compared to the same quarter last year. On average, equities analysts expect that Opus Bank will post $1.42 EPS for the current fiscal year.

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A number of institutional investors have recently made changes to their positions in OPB. California State Teachers Retirement System boosted its stake in shares of Opus Bank by 8.9% in the 2nd quarter. California State Teachers Retirement System now owns 36,773 shares of the financial services provider’s stock valued at $890,000 after purchasing an additional 3,000 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Opus Bank by 15.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,746 shares of the financial services provider’s stock valued at $381,000 after purchasing an additional 2,160 shares in the last quarter. BlueCrest Capital Management Ltd acquired a new stake in shares of Opus Bank in the 2nd quarter valued at approximately $3,025,000. Royal Bank of Canada boosted its stake in shares of Opus Bank by 0.5% in the 2nd quarter. Royal Bank of Canada now owns 738,732 shares of the financial services provider’s stock valued at $17,877,000 after purchasing an additional 3,554 shares in the last quarter. Finally, QS Investors LLC boosted its stake in shares of Opus Bank by 10.4% in the 2nd quarter. QS Investors LLC now

OPB has been the topic of several other reports. Keefe, Bruyette & Woods reissued a hold rating and issued a $24.00 price objective on shares of Opus Bank in a research report on Tuesday, August 29th. TheStreet lowered shares of Opus Bank from a b- rating to a c+ rating in a research report on Wednesday, August 23rd. BidaskClub lowered shares of Opus Bank from a hold rating to a sell rating in a research report on Wednesday, July 19th. ValuEngine raised shares of Opus Bank from a sell rating to a hold rating in a research report on Tuesday, July 25th. Finally, Zacks Investment Research lowered shares of Opus Bank from a hold rating to a sell rating in a research report on Saturday, July 8th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $27.33.

Shares of Opus Bank (NASDAQ OPB) opened at 24.40 on Friday. Opus Bank has a 52-week low of $18.20 and a 52-week high of $35.56. The stock has a market cap of $912.29 million, a P/E ratio of 228.04 and a beta of 1.09. The firm has a 50-day moving average of $22.82 and a 200-day moving average of $22.44.

Opus Bank (NASDAQ:OPB) last posted its quarterly earnings results on Monday, July 24th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.22. Opus Bank had a net margin of 1.15% and a return on equity of 2.76%. The firm had revenue of $79.83 million for the quarter, compared to analyst estimates of $71.47 million. Opus Bank’s revenue for the quarter was down 49.3% compared to the same quarter last year. On average, equities analysts expect that Opus Bank will post $1.42 EPS for the current fiscal year.

WARNING: This piece of content was originally published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece of content on another domain, it was stolen and reposted in violation of United States and international copyright laws. The original version of this piece of content can be read at https://ledgergazette.com/2017/10/09/opus-banks-opb-buy-rating-reiterated-at-piper-jaffray-companies.html.

A number of institutional investors have recently made changes to their positions in OPB. California State Teachers Retirement System boosted its stake in shares of Opus Bank by 8.9% in the 2nd quarter. California State Teachers Retirement System now owns 36,773 shares of the financial services provider’s stock valued at $890,000 after purchasing an additional 3,000 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Opus Bank by 15.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,746 shares of the financial services provider’s stock valued at $381,000 after purchasing an additional 2,160 shares in the last quarter. BlueCrest Capital Management Ltd acquired a new stake in shares of Opus Bank in the 2nd quarter valued at approximately $3,025,000. Royal Bank of Canada boosted its stake in shares of Opus Bank by 0.5% in the 2nd quarter. Royal Bank of Canada now owns 738,732 shares of the financial services provider’s stock valued at $17,877,000 after purchasing an additional 3,554 shares in the last quarter. Finally, QS Investors LLC boosted its stake in shares of Opus Bank by 10.4% in the 2nd quarter. QS Investors LLC now owns 135,626 shares of the financial services provider’s stock valued at $3,282,000 after purchasing an additional 12,813 shares in the last quarter.

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.

Analyst Recommendations for Opus Bank (NASDAQ:OPB)

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