Equities analysts forecast that Opus Bank (NASDAQ:OPB) will announce sales of $63.65 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Opus Bank’s earnings, with the highest sales estimate coming in at $63.90 million and the lowest estimate coming in at $63.40 million. Opus Bank reported sales of $60.34 million during the same quarter last year, which indicates a positive year-over-year growth rate of 5.5%. The firm is scheduled to announce its next quarterly earnings report on Monday, October 28th.
According to Zacks, analysts expect that Opus Bank will report full-year sales of $252.45 million for the current fiscal year, with estimates ranging from $249.90 million to $255.00 million. For the next financial year, analysts expect that the company will post sales of $264.10 million, with estimates ranging from $258.50 million to $269.70 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Opus Bank.
Opus Bank (NASDAQ:OPB) last issued its quarterly earnings results on Monday, July 29th. The financial services provider reported $0.35 EPS for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.03. Opus Bank had a return on equity of 4.47% and a net margin of 7.32%. The company had revenue of $62.51 million during the quarter, compared to analysts’ expectations of $63.80 million. During the same quarter in the previous year, the firm posted $0.40 EPS.
OPB has been the subject of a number of research reports. Zacks Investment Research cut Opus Bank from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Hovde Group raised Opus Bank from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $21.50 to $24.00 in a research report on Friday, August 9th. BidaskClub raised Opus Bank from a “sell” rating to a “hold” rating in a report on Thursday. Finally, ValuEngine raised Opus Bank from a “sell” rating to a “hold” rating in a report on Monday, July 29th. 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 presently has a consensus rating of “Hold” and an average price target of $23.33.
OPB traded up $0.18 on Monday, reaching $22.49. 169,113 shares of the stock were exchanged, compared to its average volume of 114,494. The company’s 50-day moving average price is $20.98 and its 200 day moving average price is $21.08. Opus Bank has a fifty-two week low of $17.79 and a fifty-two week high of $29.50. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.97. The firm has a market capitalization of $758.53 million, a PE ratio of 17.57 and a beta of 1.27.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were issued a $0.11 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $0.44 annualized dividend and a dividend yield of 1.96%. Opus Bank’s dividend payout ratio (DPR) is presently 34.38%.
Several hedge funds have recently modified their holdings of OPB. Bank of Montreal Can lifted its holdings in shares of Opus Bank by 122.3% in the 2nd quarter. Bank of Montreal Can now owns 3,373 shares of the financial services provider’s stock valued at $71,000 after buying an additional 1,856 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in shares of Opus Bank by 11,397.2% in 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. Atria Investments LLC acquired a new position in shares of Opus Bank in the 2nd quarter valued at about $150,000. Envestnet Asset Management Inc. acquired a new position in shares of Opus Bank in the 2nd quarter valued at about $200,000. Finally, Magnus Financial Group LLC acquired a new position in shares of Opus Bank in the 2nd quarter valued at about $201,000. 96.08% of the stock is owned by institutional investors and hedge funds.
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.
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