Opus Bank (NASDAQ:OPB) Reaches New 52-Week High at $26.30

Opus Bank (NASDAQ:OPB)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $26.30 and last traded at $26.30, with a volume of 922 shares traded. The stock had previously closed at $25.38.

OPB has been the topic of a number of analyst reports. Stephens initiated coverage on Opus Bank in a research note on Wednesday. They issued an “overweight” rating and a $30.00 price target on the stock. TheStreet raised Opus Bank from a “c” rating to a “b-” rating in a research note on Monday, October 28th. ValuEngine cut Opus Bank from a “hold” rating to a “sell” rating in a research note on Monday, October 21st. BidaskClub cut Opus Bank from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. Finally, Zacks Investment Research cut Opus Bank from a “hold” rating to a “sell” rating in a research note on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $26.67.

The firm has a market capitalization of $891.52 million, a P/E ratio of 20.32 and a beta of 1.33. The firm has a 50 day moving average price of $25.38 and a 200-day moving average price of $22.29. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.32.

Opus Bank (NASDAQ:OPB) last posted its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.23. The business had revenue of $62.63 million during the quarter, compared to analyst estimates of $63.70 million. Opus Bank had a return on equity of 5.67% and a net margin of 11.12%. During the same period last year, the company earned $0.25 EPS. Research analysts anticipate that Opus Bank will post 1.62 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend was Wednesday, November 6th. Opus Bank’s payout ratio is 34.38%.

Several large investors have recently bought and sold shares of the company. Millennium Management LLC lifted its stake in shares of Opus Bank by 145.8% in the 3rd quarter. Millennium Management LLC now owns 222,152 shares of the financial services provider’s stock valued at $4,836,000 after purchasing an additional 131,784 shares during the last quarter. Squarepoint Ops LLC raised its holdings in shares of Opus Bank by 27.7% in the third quarter. Squarepoint Ops LLC now owns 16,846 shares of the financial services provider’s stock worth $367,000 after buying an additional 3,656 shares during the period. California State Teachers Retirement System raised its holdings in shares of Opus Bank by 1.2% in the third quarter. California State Teachers Retirement System now owns 34,111 shares of the financial services provider’s stock worth $743,000 after buying an additional 407 shares during the period. Voya Investment Management LLC purchased a new stake in shares of Opus Bank in the third quarter worth approximately $200,000. Finally, BBVA USA Bancshares Inc. raised its holdings in shares of Opus Bank by 30.2% in the third quarter. BBVA USA Bancshares Inc. now owns 26,254 shares of the financial services provider’s stock worth $571,000 after buying an additional 6,082 shares during the period. 96.80% of the stock is owned by institutional investors and hedge funds.

About Opus Bank (NASDAQ:OPB)

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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