Trade Report: The Opus Bank (OPB) Lowered to “Market Perform” at Keefe, Bruyette & Woods

The Opus Bank (OPB) Lowered to “Market Perform” at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods downgraded shares of Opus Bank (NASDAQ:OPB) from an outperform rating to a market perform rating in a research note issued to investors on Tuesday morning. The brokerage currently has $25.00 price objective on the stock, down from their prior price objective of $40.00.

Several other equities research analysts also recently issued reports on OPB. Piper Jaffray Cos. reaffirmed an overweight rating and set a $41.00 price target (down previously from $45.00) on shares of Opus Bank in a research note on Tuesday, June 28th. Credit Suisse Group AG began coverage on shares of Opus Bank in a research note on Wednesday, June 29th. They set an outperform rating and a $44.00 price target on the stock. JPMorgan Chase & Co. dropped their price target on shares of Opus Bank from $39.00 to $38.00 and set an overweight rating on the stock in a research note on Thursday, July 7th. TheStreet raised shares of Opus Bank from a hold rating to a buy rating in a research note on Friday, July 15th. Finally, JMP Securities began coverage on shares of Opus Bank in a research note on Friday, September 16th. They set a market perform rating on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $38.40.

Shares of Opus Bank (NASDAQ:OPB) opened at 20.20 on Tuesday. The stock has a 50 day moving average of $31.48 and a 200-day moving average of $34.04. Opus Bank has a one year low of $18.20 and a one year high of $41.49. The stock has a market capitalization of $692.42 million, a PE ratio of 16.19 and a beta of 0.51.

Opus Bank (NASDAQ:OPB) last issued its earnings results on Monday, October 24th. The company reported $0.50 EPS for the quarter, missing the Zacks’ consensus estimate of $0.61 by $0.11. Opus Bank had a net margin of 15.20% and a return on equity of 7.39%. Equities analysts predict that Opus Bank will post $1.30 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in OPB. BNP Paribas Arbitrage SA bought a new position in shares of Opus Bank during the second quarter valued at $201,000. Emerald Mutual Fund Advisers Trust raised its position in Opus Bank by 41.4% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 954,540 shares of the company’s stock valued at $32,263,000 after buying an additional 279,569 shares during the period. JPMorgan Chase & Co. raised its position in Opus Bank by 5.5% in the first quarter. JPMorgan Chase & Co. now owns 23,476 shares of the company’s stock valued at $798,000 after buying an additional 1,229 shares during the period. Emerald Advisers Inc. PA raised its position in Opus Bank by 5.8% in the second quarter. Emerald Advisers Inc. PA now owns 743,436 shares of the company’s stock valued at $25,128,000 after buying an additional 40,635 shares during the period. Finally, First Trust Advisors LP raised its position in Opus Bank by 71.8% in the second quarter. First Trust Advisors LP now owns 53,528 shares of the company’s stock valued at $1,809,000 after buying an additional 22,373 shares during the period. 93.80% of the stock is owned by institutional investors.

Opus Bank Company Profile

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