Wall Street brokerages expect that Opus Bank (NASDAQ:OPB) will report sales of $61.40 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Opus Bank’s earnings, with the lowest sales estimate coming in at $60.50 million and the highest estimate coming in at $62.30 million. Opus Bank posted sales of $53.81 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 14.1%. The firm is scheduled to report its next quarterly earnings results on Monday, January 27th.
According to Zacks, analysts expect that Opus Bank will report full year sales of $249.40 million for the current year, with estimates ranging from $247.80 million to $251.00 million. For the next year, analysts forecast that the firm will report sales of $249.60 million, with estimates ranging from $244.70 million to $254.50 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Opus Bank.
Opus Bank (NASDAQ:OPB) last released its earnings results on Monday, October 28th. The financial services provider reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.23. Opus Bank had a return on equity of 5.67% and a net margin of 11.12%. The firm had revenue of $62.63 million during the quarter, compared to analysts’ expectations of $63.70 million. During the same period in the prior year, the company earned $0.25 earnings per share.
A number of research analysts have recently commented on OPB shares. TheStreet upgraded Opus Bank from a “c” rating to a “b-” rating in a research note on Monday, October 28th. Hovde Group upgraded Opus Bank from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $21.50 to $24.00 in a report on Friday, August 9th. ValuEngine downgraded Opus Bank from a “hold” rating to a “sell” rating in a report on Monday, October 21st. Zacks Investment Research downgraded Opus Bank from a “hold” rating to a “sell” rating in a report on Tuesday, October 15th. Finally, BidaskClub upgraded Opus Bank from a “buy” rating to a “strong-buy” rating in a report on Friday. Two research analysts have rated the stock with a sell rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Opus Bank currently has an average rating of “Hold” and a consensus target price of $25.00.
NASDAQ OPB traded up $0.17 on Friday, hitting $25.97. 220,188 shares of the company’s stock were exchanged, compared to its average volume of 157,726. The stock has a 50-day moving average of $23.74 and a 200-day moving average of $21.77. 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 has a 52 week low of $17.79 and a 52 week high of $26.26. The stock has a market cap of $890.49 million, a price-to-earnings ratio of 20.36 and a beta of 1.33.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $0.44 dividend on an annualized basis and a yield of 1.69%. Opus Bank’s payout ratio is currently 34.38%.
A number of institutional investors have recently modified their holdings of the business. BBVA USA Bancshares Inc. grew its stake in Opus Bank by 30.2% in the 3rd quarter. BBVA USA Bancshares Inc. now owns 26,254 shares of the financial services provider’s stock valued at $571,000 after buying an additional 6,082 shares in the last quarter. Teton Advisors Inc. grew its position in shares of Opus Bank by 7.7% during the third quarter. Teton Advisors Inc. now owns 14,000 shares of the financial services provider’s stock worth $305,000 after acquiring an additional 1,000 shares during the last quarter. California Public Employees Retirement System grew its position in shares of Opus Bank by 29.8% during the third quarter. California Public Employees Retirement System now owns 16,551 shares of the financial services provider’s stock worth $360,000 after acquiring an additional 3,800 shares during the last quarter. State of Tennessee Treasury Department grew its position in shares of Opus Bank by 8.5% during the third quarter. State of Tennessee Treasury Department now owns 9,628 shares of the financial services provider’s stock worth $210,000 after acquiring an additional 757 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its position in shares of Opus Bank by 27.8% during the third quarter. Envestnet Asset Management Inc. now owns 12,085 shares of the financial services provider’s stock worth $263,000 after acquiring an additional 2,632 shares during the last quarter. Hedge funds and other institutional investors own 94.13% of the company’s stock.
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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