Piper Jaffray Companies restated their buy rating on shares of Opus Bank (NASDAQ:OPB) in a research report released on Friday. Piper Jaffray Companies currently has a $27.00 price objective on the financial services provider’s stock.

Several other analysts have also recently commented on the company. BidaskClub cut Opus Bank from a buy rating to a hold rating in a report on Wednesday, July 12th. TheStreet upgraded Opus Bank from a c rating to a b- rating in a report on Thursday, July 13th. Keefe, Bruyette & Woods reiterated a hold rating and issued a $24.00 target price on shares of Opus Bank in a report on Tuesday, August 29th. ValuEngine upgraded Opus Bank from a sell rating to a hold rating in a report on Tuesday, July 25th. Finally, Zacks Investment Research cut Opus Bank from a hold rating to a sell rating in a report on Saturday, July 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. Opus Bank currently has an average rating of Hold and a consensus target price of $27.33.

Opus Bank (NASDAQ:OPB) opened at 24.15 on Friday. The company’s 50-day moving average is $22.87 and its 200 day moving average is $22.53. Opus Bank has a 1-year low of $18.20 and a 1-year high of $35.50. The company has a market cap of $902.94 million, a price-to-earnings ratio of 225.70 and a beta of 1.09.

Opus Bank (NASDAQ:OPB) last announced its earnings results on Monday, July 24th. The financial services provider reported $0.51 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.22. Opus Bank had a return on equity of 2.76% and a net margin of 1.15%. The business had revenue of $79.83 million for the quarter, compared to analysts’ expectations of $71.47 million. The firm’s revenue was down 49.3% compared to the same quarter last year. On average, equities analysts predict that Opus Bank will post $1.42 EPS for the current fiscal year.

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A number of hedge funds have recently made changes to their positions in OPB. UBS Group AG boosted its holdings in Opus Bank by 23.4% in the first quarter. UBS Group AG now owns 4,969 shares of the financial services provider’s stock valued at $100,000 after acquiring an additional 941 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of Opus Bank by 66.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,508 shares of the financial services provider’s stock worth $133,000 after buying an additional 2,208 shares in the last quarter. New York State Teachers Retirement System boosted its holdings in shares of Opus Bank by 6.3% during the 1st quarter. New York State Teachers Retirement System now owns 8,459 shares of the financial services provider’s stock worth $170,000 after buying an additional 500 shares in the last quarter. Voya Investment Management LLC bought a new position in shares of Opus Bank during the 2nd quarter worth approximately $209,000. Finally, Karp Capital Management Corp bought a new position in shares of Opus Bank during the 1st quarter worth approximately $224,000.

About Opus Bank

Opus Bank is a commercial bank. The Company provides banking products, services and solutions to its clients through its Retail Bank, Commercial Bank, Merchant Bank, and Correspondent Bank. The Company’s Commercial Bank consists Commercial Banking, Business Banking, Healthcare Banking, Technology Banking, Fiduciary Banking, Institutional Syndications and Commercial Real Estate Banking (CREB), which includes Income Property Banking, its Structured Finance Group and Capital Markets Group.

Analyst Recommendations for Opus Bank (NASDAQ:OPB)

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