Zacks Investment Research Downgrades Opus Bank (OPB) to Strong Sell

Opus Bank (NASDAQ:OPB) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report issued on Friday.

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. “

A number of other research firms have also weighed in on OPB. ValuEngine raised shares of Opus Bank from a “hold” rating to a “buy” rating in a research report on Friday, September 7th. BidaskClub lowered shares of Opus Bank from a “buy” rating to a “hold” rating in a research report on Saturday, August 25th. FIG Partners lowered shares of Opus Bank from an “outperform” rating to a “market-perform” rating in a research report on Monday, July 23rd. Finally, Sandler O’Neill set a $20.00 price objective on shares of Opus Bank and gave the stock a “hold” rating in a research report on Tuesday, October 23rd. Three equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company. Opus Bank currently has a consensus rating of “Hold” and a consensus target price of $29.00.



Opus Bank stock opened at $19.01 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.92 and a current ratio of 0.92. Opus Bank has a 1-year low of $18.49 and a 1-year high of $30.95. The stock has a market capitalization of $648.50 million, a P/E ratio of 12.76 and a beta of 0.92.

Opus Bank (NASDAQ:OPB) last posted its quarterly earnings data on Monday, October 22nd. The financial services provider reported $0.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.11). Opus Bank had a return on equity of 4.80% and a net margin of 13.28%. The firm had revenue of $60.34 million during the quarter, compared to analysts’ expectations of $67.23 million. During the same period last year, the company earned $0.54 earnings per share. Sell-side analysts expect that Opus Bank will post 1.26 EPS for the current fiscal year.

Several large investors have recently modified their holdings of the company. First Trust Advisors LP increased its position in shares of Opus Bank by 67.0% during the third quarter. First Trust Advisors LP now owns 85,082 shares of the financial services provider’s stock worth $2,331,000 after acquiring an additional 34,122 shares during the period. Lawson Kroeker Investment Management Inc. NE increased its position in shares of Opus Bank by 7.0% during the third quarter. Lawson Kroeker Investment Management Inc. NE now owns 172,205 shares of the financial services provider’s stock worth $4,718,000 after acquiring an additional 11,230 shares during the period. United Services Automobile Association purchased a new position in shares of Opus Bank during the second quarter worth approximately $227,000. Northern Trust Corp increased its position in shares of Opus Bank by 2.2% during the second quarter. Northern Trust Corp now owns 248,681 shares of the financial services provider’s stock worth $7,136,000 after acquiring an additional 5,294 shares during the period. Finally, Capital Fund Management S.A. purchased a new position in shares of Opus Bank during the second quarter worth approximately $362,000. 97.69% of the stock is currently owned by institutional investors and hedge funds.

Opus Bank Company Profile

Opus Bank provides various banking products, services, and solutions for small to mid-sized companies, entrepreneurs, real estate investors, professionals, and high net worth individuals. It offers demand deposits, checking accounts, money market accounts, savings accounts, and certificates of deposit.

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