Opus Bank (NASDAQ:OPB) was the target of a significant drop in short interest in August. As of August 15th, there was short interest totalling 571,400 shares, a drop of 9.5% from the July 15th total of 631,100 shares. Currently, 2.0% of the shares of the company are sold short. Based on an average daily trading volume, of 115,400 shares, the days-to-cover ratio is presently 5.0 days.
A number of research analysts have commented on the stock. BidaskClub cut shares of Opus Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, August 21st. Zacks Investment Research cut shares of Opus Bank from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. ValuEngine upgraded shares of Opus Bank from a “sell” rating to a “hold” rating in a research note on Monday, July 29th. Finally, Hovde Group upgraded shares of Opus Bank from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $21.50 to $24.00 in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $23.33.
OPB traded up $0.60 during midday trading on Thursday, reaching $20.78. 97,700 shares of the company’s stock were exchanged, compared to its average volume of 134,454. The firm has a market capitalization of $704.72 million, a price-to-earnings ratio of 16.23 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 one year low of $17.79 and a one year high of $29.50. The business has a 50-day simple moving average of $20.99 and a two-hundred day simple moving average of $21.16.
Opus Bank (NASDAQ:OPB) last announced its quarterly earnings results on Monday, July 29th. The financial services provider reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03. The firm had revenue of $62.51 million during the quarter, compared to analysts’ expectations of $63.80 million. Opus Bank had a net margin of 7.32% and a return on equity of 4.47%. During the same quarter last year, the company earned $0.40 earnings per share. As a group, research analysts anticipate that Opus Bank will post 1.39 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend was Wednesday, August 7th. Opus Bank’s dividend payout ratio is 34.38%.
A number of institutional investors and hedge funds have recently made changes to their positions in OPB. Millennium Management LLC bought a new position in shares of Opus Bank in the fourth quarter valued at approximately $618,000. BNP Paribas Arbitrage SA raised its stake in shares of Opus Bank by 11,397.2% in the first quarter. BNP Paribas Arbitrage SA now owns 4,139 shares of the financial services provider’s stock valued at $82,000 after acquiring an additional 4,103 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Opus Bank by 21.1% in the first quarter. SG Americas Securities LLC now owns 27,837 shares of the financial services provider’s stock valued at $551,000 after acquiring an additional 4,857 shares during the last quarter. Comerica Bank raised its stake in shares of Opus Bank by 2.6% in the first quarter. Comerica Bank now owns 21,367 shares of the financial services provider’s stock valued at $443,000 after acquiring an additional 544 shares during the last quarter. Finally, Texas Permanent School Fund raised its stake in shares of Opus Bank by 3.6% in the first quarter. Texas Permanent School Fund now owns 14,669 shares of the financial services provider’s stock valued at $290,000 after acquiring an additional 511 shares during the last quarter. Hedge funds and other institutional investors own 92.68% 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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