Opus Bank (NASDAQ:OPB) Lifted to Outperform at Keefe, Bruyette & Woods

Opus Bank (NASDAQ:OPB) was upgraded by research analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a research report issued on Monday, MarketBeat reports. The firm currently has a $29.00 target price on the financial services provider’s stock, up from their previous target price of $27.00. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 9.64% from the stock’s previous close.

Several other research analysts also recently commented on the stock. TheStreet upgraded shares of Opus Bank from a “c” rating to a “b-” rating in a research report on Monday, October 28th. Stephens began coverage on shares of Opus Bank in a research report on Wednesday, December 11th. They set an “overweight” rating and a $30.00 price objective for the company. ValuEngine downgraded shares of Opus Bank from a “hold” rating to a “sell” rating in a research report on Monday, October 21st. Zacks Investment Research downgraded shares of Opus Bank from a “hold” rating to a “sell” rating in a research report on Tuesday, October 15th. Finally, BidaskClub downgraded shares of Opus Bank from a “sell” rating to a “strong sell” rating in a research report on Thursday, January 23rd. Three investment analysts have rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $27.25.

Shares of OPB opened at $26.45 on Monday. Opus Bank has a one year low of $17.94 and a one year high of $26.89. The company has a market cap of $906.60 million, a P/E ratio of 30.06 and a beta of 1.34. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a 50 day simple moving average of $25.74 and a two-hundred day simple moving average of $23.42.

Opus Bank (NASDAQ:OPB) last announced its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.58 EPS for the quarter, beating the consensus estimate of $0.35 by $0.23. Opus Bank had a net margin of 11.12% and a return on equity of 5.67%. The business had revenue of $62.63 million during the quarter, compared to the consensus estimate of $63.70 million. During the same period in the previous year, the business earned $0.25 earnings per share. On average, analysts expect that Opus Bank will post 1.61 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in the company. Bank of Montreal Can lifted its holdings in Opus Bank by 122.3% during the second quarter. Bank of Montreal Can now owns 3,373 shares of the financial services provider’s stock worth $71,000 after acquiring an additional 1,856 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Opus Bank by 7.2% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 125,908 shares of the financial services provider’s stock valued at $2,658,000 after purchasing an additional 8,476 shares during the period. Renaissance Technologies LLC raised its stake in shares of Opus Bank by 41.0% in the 2nd quarter. Renaissance Technologies LLC now owns 135,110 shares of the financial services provider’s stock valued at $2,852,000 after purchasing an additional 39,300 shares during the period. Northern Trust Corp raised its stake in shares of Opus Bank by 3.0% in the 2nd quarter. Northern Trust Corp now owns 262,205 shares of the financial services provider’s stock valued at $5,535,000 after purchasing an additional 7,751 shares during the period. Finally, Parametric Portfolio Associates LLC raised its stake in shares of Opus Bank by 2.0% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 115,527 shares of the financial services provider’s stock valued at $2,439,000 after purchasing an additional 2,265 shares during the period. Institutional investors own 96.62% of the company’s stock.

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.

Further Reading: What is an Initial Coin Offering (ICO)?

Receive News & Ratings for Opus Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Opus Bank and related companies with MarketBeat.com's FREE daily email newsletter.