Equities Analysts Offer Predictions for Opus Bank’s FY2019 Earnings (NASDAQ:OPB)

Equities Analysts Offer Predictions for Opus Bank’s FY2019 Earnings (NASDAQ:OPB)

Opus Bank (NASDAQ:OPB) – Investment analysts at Piper Jaffray Companies boosted their FY2019 earnings estimates for shares of Opus Bank in a research report issued to clients and investors on Monday, July 29th, Zacks Investment Research reports. Piper Jaffray Companies analyst M. Clark now expects that the financial services provider will post earnings of $1.38 per share for the year, up from their prior estimate of $1.23. Piper Jaffray Companies also issued estimates for Opus Bank’s Q4 2019 earnings at $0.37 EPS, Q1 2020 earnings at $0.42 EPS, Q2 2020 earnings at $0.45 EPS, Q3 2020 earnings at $0.47 EPS, Q4 2020 earnings at $0.51 EPS and FY2020 earnings at $1.85 EPS.

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, beating analysts’ consensus estimates of $0.32 by $0.03. The firm had revenue of $62.51 million for the quarter, compared to analysts’ expectations of $63.80 million. Opus Bank had a return on equity of 4.47% and a net margin of 7.32%. During the same quarter in the prior year, the firm earned $0.40 EPS.

Other analysts have also recently issued research reports about the company. Zacks Investment Research cut Opus Bank from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 7th. BidaskClub cut Opus Bank from a “hold” rating to a “sell” rating in a report on Wednesday. ValuEngine raised Opus Bank from a “sell” rating to a “hold” rating in a report on Monday, July 29th. Finally, Hovde Group raised Opus Bank from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $21.50 to $24.00 in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $23.33.

OPB traded down $0.64 during trading on Thursday, reaching $20.29. 112,237 shares of the company were exchanged, compared to its average volume of 101,265. The company’s 50-day moving average is $21.09 and its two-hundred day moving average is $21.18. The company has a market cap of $705.74 million, a price-to-earnings ratio of 15.85 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 12-month low of $17.79 and a 12-month high of $29.50.

Institutional investors have recently made changes to their positions in the company. Versant Capital Management Inc grew its position in Opus Bank by 163.1% during the 1st quarter. Versant Capital Management Inc now owns 1,334 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 827 shares during the last quarter. Bank of Montreal Can grew its position in Opus Bank by 122.3% during the 2nd quarter. Bank of Montreal Can now owns 3,373 shares of the financial services provider’s stock worth $71,000 after acquiring an additional 1,856 shares during the last quarter. BNP Paribas Arbitrage SA grew its position in Opus Bank by 11,397.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 4,139 shares of the financial services provider’s stock worth $82,000 after acquiring an additional 4,103 shares during the last quarter. Atria Investments LLC bought a new position in Opus Bank during the 2nd quarter worth approximately $150,000. Finally, Municipal Employees Retirement System of Michigan bought a new position in Opus Bank during the 4th quarter worth approximately $188,000. Hedge funds and other institutional investors own 92.68% of the company’s stock.

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were issued a $0.11 dividend. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.44 annualized dividend and a dividend yield of 2.17%. Opus Bank’s payout ratio is currently 34.38%.

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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