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

Zacks Investment Research downgraded shares of Opus Bank (NASDAQ:OPB) from a hold rating to a sell rating in a research note released on Wednesday, 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. “

Other analysts have also issued reports about the stock. BidaskClub lowered shares of Xencor from a sell rating to a strong sell rating in a research report on Tuesday, June 11th. ValuEngine lowered shares of Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. Three equities research analysts have rated the stock with a sell rating and one has given a hold rating to the stock. Opus Bank has an average rating of Sell and an average price target of $20.00.

Shares of NASDAQ OPB opened at $21.08 on Wednesday. The firm has a market capitalization of $719.11 million, a PE ratio of 16.47 and a beta of 1.25. The firm’s 50 day moving average price is $20.84. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.96 and a current ratio of 0.96. Opus Bank has a 52-week low of $17.79 and a 52-week high of $30.00.

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

Institutional investors and hedge funds have recently bought and sold shares of the stock. First Trust Advisors LP lifted its position 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 period. SG Americas Securities LLC lifted its position 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 period. BlackRock Inc. lifted its position 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 period. Castine Capital Management LLC bought a new stake in Opus Bank during the first quarter worth about $5,698,000. Finally, Oregon Public Employees Retirement Fund bought a new stake in Opus Bank during the fourth quarter worth about $161,000. 96.93% of the stock is owned by institutional investors and hedge funds.

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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