Arizona State Retirement System lifted its position in Opus Bank (NASDAQ:OPB) by 211.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,961 shares of the financial services provider’s stock after acquiring an additional 19,661 shares during the quarter. Arizona State Retirement System owned approximately 0.08% of Opus Bank worth $791,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of OPB. Dimensional Fund Advisors LP grew its stake in shares of Opus Bank by 19.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,327,792 shares of the financial services provider’s stock worth $31,867,000 after acquiring an additional 216,891 shares in the last quarter. Emerald Advisers Inc. PA grew its stake in shares of Opus Bank by 26.4% in the 4th quarter. Emerald Advisers Inc. PA now owns 812,574 shares of the financial services provider’s stock worth $22,183,000 after acquiring an additional 169,903 shares in the last quarter. Continental Advisors LLC grew its stake in shares of Opus Bank by 70.7% in the 3rd quarter. Continental Advisors LLC now owns 184,641 shares of the financial services provider’s stock worth $4,431,000 after acquiring an additional 76,451 shares in the last quarter. Eagle Boston Investment Management Inc. grew its stake in shares of Opus Bank by 17.1% in the 4th quarter. Eagle Boston Investment Management Inc. now owns 425,636 shares of the financial services provider’s stock worth $11,619,000 after acquiring an additional 62,055 shares in the last quarter. Finally, Convergence Investment Partners LLC bought a new stake in shares of Opus Bank in the 4th quarter worth $1,192,000. Hedge funds and other institutional investors own 98.10% of the company’s stock.
Several research firms have recently issued reports on OPB. BidaskClub lowered shares of Opus Bank from a “hold” rating to a “sell” rating in a research note on Friday, December 29th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $31.00 target price on shares of Opus Bank in a research note on Tuesday, February 27th. ValuEngine upgraded shares of Opus Bank from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Zacks Investment Research upgraded 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 note on Wednesday, January 10th. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $30.00 target price on shares of Opus Bank in a research note on Tuesday, January 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. Opus Bank presently has a consensus rating of “Hold” and an average price target of $31.00.
Opus Bank (OPB) opened at $29.40 on Tuesday. The firm has a market cap of $1,016.28, a PE ratio of 23.33 and a beta of 0.96. The company has a current ratio of 0.94, a quick ratio of 0.90 and a debt-to-equity ratio of 0.43. Opus Bank has a 1 year low of $18.45 and a 1 year high of $30.95.
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 Thomson Reuters’ consensus estimate of $0.40 by ($0.14). The company had revenue of $64.60 million for the quarter, compared to the consensus estimate of $67.30 million. Opus Bank had a net margin of 15.45% and a return on equity of 5.98%. Opus Bank’s quarterly revenue was down 25.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.55) EPS. equities analysts forecast that Opus Bank will post 1.92 EPS for the current year.
Opus Bank 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.
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