Opus Bank (OPB) to Issue Quarterly Dividend of $0.11 on August 22nd

Opus Bank (NASDAQ:OPB) announced a quarterly dividend on Monday, July 29th, NASDAQ reports. Stockholders of record on Thursday, August 8th will be paid a dividend of 0.11 per share by the financial services provider on Thursday, August 22nd. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date is Wednesday, August 7th.

Opus Bank has raised its dividend payment by an average of 8.1% per year over the last three years and has raised its dividend annually for the last 3 consecutive years. Opus Bank has a payout ratio of 29.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Opus Bank to earn $1.75 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 25.1%.

Shares of NASDAQ:OPB opened at $21.35 on Monday. Opus Bank has a 12-month low of $17.79 and a 12-month high of $29.50. The company has a market capitalization of $731.79 million, a PE ratio of 16.68 and a beta of 1.27. The stock’s 50 day moving average price is $21.25. The company has a current ratio of 0.98, a quick ratio of 0.96 and a debt-to-equity ratio of 0.47.

Opus Bank (NASDAQ:OPB) last issued its quarterly earnings data on Monday, July 29th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03. Opus Bank had a return on equity of 4.47% and a net margin of 7.32%. The company had revenue of $62.51 million during the quarter, compared to analysts’ expectations of $63.80 million. During the same quarter in the previous year, the company posted $0.40 earnings per share. On average, analysts forecast that Opus Bank will post 1.39 earnings per share for the current year.

Several brokerages recently issued reports on OPB. BidaskClub upgraded Opus Bank from a “sell” rating to a “hold” rating in a research note on Tuesday, July 30th. Zacks Investment Research upgraded Opus Bank from a “sell” rating to a “strong-buy” rating and set a $26.00 price target for the company in a research note on Friday. Finally, ValuEngine upgraded Opus Bank from a “sell” rating to a “hold” rating in a research note on Monday, July 29th. Three analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. Opus Bank has an average rating of “Buy” and an average price target of $23.00.

About Opus Bank

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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Dividend History for Opus Bank (NASDAQ:OPB)

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