Credit Suisse Initiates Coverage on Opus Bank to Outperform

Credit Suisse Initiates Coverage on Opus Bank(NASDAQ:OPB). The shares have been rated Outperform. The rating by Credit Suisse was issued on Jun 29, 2016.

In a different note, Hovde Group said it Initiates Coverage on Opus Bank, according to a research note issued on Jun 3, 2016. The shares have been rated ‘Outperform’ by the firm. On May 19, 2016, Keefe Bruyette & Woods said it Maintains its rating on Opus Bank. In the research note, the firm Lowers the price-target to $44.00 per share. The shares have been rated ‘Outperform’ by the firm. On Apr 5, 2016, JP Morgan said it Maintains its rating on Opus Bank. In the research note, the firm Lowers the price-target to $42.50 per share. The shares have been rated ‘Overweight’ by the firm.

Opus Bank (OPB) shares turned negative on Fridays trading session with the shares closing down -0.56 points or -1.66% at a volume of 1,24,011. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $34.05. The peak price level was also seen at $34.05 while the days lowest was $32.851. Finally the shares closed at $33.24. The 52-week high of the shares is $41.49 while the 52-week low is $28.8364. According to the latest information available, the market cap of the company is $1,081 M.

Opus Bank(OPB) last announced its earnings results on Apr 25, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $64.43M. Analysts had an estimated revenue of $65.16M. Earnings per share were $0.51. Analysts had estimated an EPS of $0.58.

Opus Bank is a California-chartered commercial bank. The Company provides relationship-based banking products services and solutions to small and mid-sized companies entrepreneurs real estate investors professionals and individuals. It is organized into four lines of business: commercial banking operations which is referred to as Commercial Bank; retail banking operations which is referred to as Retail Bank; merchant banking operations which is referred to as Merchant Bank and correspondent banking operations which is referred to as Correspondent Bank. Through these four lines of businesses it offers a range of conventional and specialized financial products and services to its clients through divisions such as commercial real estate banking; commercial banking; healthcare banking; technology banking; institutional syndications; fiduciary banking; business banking; corporate finance; private equity group; corporate advisory and correspondent banking.

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