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.
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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