Opus Bank (NASDAQ:OPB) Expected to Announce Quarterly Sales of $63.70 Million

Wall Street analysts expect Opus Bank (NASDAQ:OPB) to post $63.70 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Opus Bank’s earnings. The highest sales estimate is $63.90 million and the lowest is $63.50 million. Opus Bank posted sales of $60.34 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 5.6%. The business is expected to report its next quarterly earnings results before the market opens on Monday, October 28th.

According to Zacks, analysts expect that Opus Bank will report full year sales of $252.74 million for the current financial year, with estimates ranging from $250.47 million to $255.00 million. For the next year, analysts anticipate that the company will post sales of $261.62 million, with estimates ranging from $253.54 million to $269.70 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that that provide coverage for Opus Bank.

Opus Bank (NASDAQ:OPB) last posted its earnings results on Monday, July 29th. The financial services provider reported $0.35 EPS for the quarter, topping the consensus estimate of $0.32 by $0.03. The firm had revenue of $62.51 million for the quarter, compared to analyst estimates of $63.80 million. Opus Bank had a return on equity of 4.47% and a net margin of 7.32%. During the same period last year, the company earned $0.40 earnings per share.

A number of equities analysts recently commented on OPB shares. Hovde Group upgraded Opus Bank from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $21.50 to $24.00 in a research report on Friday, August 9th. ValuEngine downgraded Opus Bank from a “hold” rating to a “sell” rating in a research report on Monday, October 21st. BidaskClub upgraded Opus Bank from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Zacks Investment Research downgraded Opus Bank from a “hold” rating to a “sell” rating in a research report on Tuesday, October 15th. Two analysts have rated the stock with a sell rating and two have issued a buy rating to the stock. Opus Bank currently has a consensus rating of “Hold” and an average price target of $25.00.

Opus Bank stock traded down $0.17 during midday trading on Thursday, hitting $23.81. 296,100 shares of the company were exchanged, compared to its average volume of 168,657. Opus Bank has a fifty-two week low of $17.79 and a fifty-two week high of $24.24. The firm has a market capitalization of $821.94 million, a PE ratio of 18.60 and a beta of 1.28. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.97 and a current ratio of 0.98. The business has a fifty day simple moving average of $22.12 and a two-hundred day simple moving average of $21.32.

A number of hedge funds have recently bought and sold shares of OPB. Bank of Montreal Can increased its stake in Opus Bank by 122.3% during the second 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. Atria Investments LLC acquired a new stake in Opus Bank during the second quarter worth $150,000. Envestnet Asset Management Inc. acquired a new stake in Opus Bank during the second quarter worth $200,000. Magnus Financial Group LLC acquired a new stake in Opus Bank during the second quarter worth $201,000. Finally, Unison Advisors LLC acquired a new stake in Opus Bank during the second quarter worth $208,000. 96.04% of the stock is owned by institutional investors.

About Opus Bank

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

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