Wells Fargo & Company MN Trims Stock Position in Opus Bank (NASDAQ:OPB)

Wells Fargo & Company MN lessened its position in shares of Opus Bank (NASDAQ:OPB) by 2.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 108,145 shares of the financial services provider’s stock after selling 2,833 shares during the quarter. Wells Fargo & Company MN owned about 0.32% of Opus Bank worth $2,283,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in OPB. BNP Paribas Arbitrage SA raised its position in shares of Opus Bank by 11,397.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 4,139 shares of the financial services provider’s stock valued at $82,000 after buying an additional 4,103 shares during the period. Envestnet Asset Management Inc. purchased a new stake in shares of Opus Bank during the 2nd quarter valued at approximately $200,000. Magnus Financial Group LLC purchased a new stake in shares of Opus Bank during the 2nd quarter valued at approximately $201,000. Unison Advisors LLC purchased a new stake in shares of Opus Bank during the 2nd quarter valued at approximately $208,000. Finally, Stone Ridge Asset Management LLC purchased a new stake in shares of Opus Bank during the 2nd quarter valued at approximately $237,000. 96.01% of the stock is currently owned by hedge funds and other institutional investors.

OPB has been the topic of several analyst reports. BidaskClub raised shares of Opus Bank from a “sell” rating to a “hold” rating in a research report on Thursday, September 12th. Hovde Group raised Opus Bank from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $21.50 to $24.00 in a research report on Friday, August 9th. ValuEngine raised Opus Bank from a “sell” rating to a “hold” rating in a research report on Monday, July 29th. Finally, Zacks Investment Research lowered Opus Bank from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $23.33.



NASDAQ OPB traded up $0.28 on Wednesday, reaching $21.55. The stock had a trading volume of 991 shares, compared to its average volume of 96,343. The firm has a market capitalization of $748.93 million, a price-to-earnings ratio of 16.86 and a beta of 1.27. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.47. Opus Bank has a 12-month low of $17.79 and a 12-month high of $28.40. The stock has a fifty day moving average price of $21.00 and a two-hundred day moving average price of $21.05.

Opus Bank (NASDAQ:OPB) last announced its earnings results on Monday, July 29th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. The company had revenue of $62.51 million for the quarter, compared to analyst estimates of $63.80 million. Opus Bank had a return on equity of 4.47% and a net margin of 7.32%. During the same quarter in the previous year, the company earned $0.40 earnings per share. Sell-side analysts forecast that Opus Bank will post 1.39 earnings per share for the current fiscal year.

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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Institutional Ownership by Quarter for Opus Bank (NASDAQ:OPB)

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