Opus Bank (NASDAQ:OPB) Expected to Announce Earnings of $0.23 Per Share

Wall Street brokerages forecast that Opus Bank (NASDAQ:OPB) will announce earnings per share (EPS) of $0.23 for the current quarter, Zacks reports. Two analysts have made estimates for Opus Bank’s earnings. The lowest EPS estimate is $0.05 and the highest is $0.41. Opus Bank reported earnings of $0.35 per share during the same quarter last year, which would indicate a negative year over year growth rate of 34.3%. The firm is expected to announce its next earnings results on Monday, August 3rd.

According to Zacks, analysts expect that Opus Bank will report full-year earnings of $1.32 per share for the current year, with EPS estimates ranging from $0.80 to $1.68. For the next fiscal year, analysts anticipate that the company will post earnings of $1.48 per share, with EPS estimates ranging from $1.20 to $1.80. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that follow Opus Bank.

Opus Bank (NASDAQ:OPB) last issued its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $0.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.01. The firm had revenue of $64.98 million for the quarter, compared to analysts’ expectations of $61.85 million. Opus Bank had a negative net margin of 10.21% and a positive return on equity of 6.63%.

A number of equities analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Opus Bank from a “sell” rating to a “hold” rating in a research report on Monday, May 4th. BidaskClub lowered shares of Opus Bank from a “sell” rating to a “strong sell” rating in a research report on Friday, May 15th. Keefe, Bruyette & Woods upgraded shares of Opus Bank from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $27.00 to $29.00 in a research report on Monday, January 27th. Stephens lowered shares of Opus Bank from an “overweight” rating to an “equal weight” rating in a report on Thursday, February 6th. Finally, Piper Sandler upgraded shares of Opus Bank from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $26.00 to $33.00 in a report on Wednesday, February 5th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $29.20.

Shares of OPB stock traded up $0.11 during trading hours on Friday, reaching $17.60. 100,358 shares of the company were exchanged, compared to its average volume of 216,684. Opus Bank has a fifty-two week low of $13.07 and a fifty-two week high of $28.37. The stock’s fifty day moving average is $16.72 and its two-hundred day moving average is $22.51. The company has a market cap of $636.20 million, a price-to-earnings ratio of -17.43 and a beta of 1.37. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.96.

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 8th were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend was Thursday, May 7th. Opus Bank’s dividend payout ratio is 25.00%.

Several hedge funds have recently modified their holdings of OPB. Voya Investment Management LLC bought a new stake in shares of Opus Bank during the third quarter worth $200,000. Virginia Retirement Systems ET AL bought a new stake in shares of Opus Bank during the fourth quarter worth $378,000. California Public Employees Retirement System increased its position in shares of Opus Bank by 114.1% during the fourth quarter. California Public Employees Retirement System now owns 35,434 shares of the financial services provider’s stock worth $917,000 after acquiring an additional 18,883 shares in the last quarter. Rice Hall James & Associates LLC bought a new position in Opus Bank in the fourth quarter valued at $1,584,000. Finally, State of New Jersey Common Pension Fund D bought a new position in Opus Bank in the fourth quarter valued at $3,362,000. 98.76% of the stock is owned by institutional investors.

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.

Recommended Story: Circuit Breakers

Get a free copy of the Zacks research report on Opus Bank (OPB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Opus Bank (NASDAQ:OPB)

Receive News & Ratings for Opus Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Opus Bank and related companies with MarketBeat.com's FREE daily email newsletter.