Exclusive: Could Opus Bank Change Direction After Touching 1 Year Low?

Exclusive: Could Opus Bank Change Direction After Touching 1 Year Low?

The stock of Opus Bank (NASDAQ:OPB) hit a new 52-week low and has $25.89 target or 9.00% below today’s $28.45 share price. The 6 months bearish chart indicates high risk for the $980.84 million company. The 1-year low was reported on Oct, 17 by Barchart.com. If the $25.89 price target is reached, the company will be worth $88.28 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 667,920 shares traded hands or 572.95% up from the average. Opus Bank (NASDAQ:OPB) has declined 0.69% since March 14, 2016 and is downtrending. It has underperformed by 6.30% the S&P500.

Analysts await Opus Bank (NASDAQ:OPB) to report earnings on October, 24. They expect $0.59 earnings per share, up 34.09% or $0.15 from last year’s $0.44 per share. OPB’s profit will be $20.34M for 12.06 P/E if the $0.59 EPS becomes a reality. After $0.46 actual earnings per share reported by Opus Bank for the previous quarter, Wall Street now forecasts 28.26% EPS growth.

Opus Bank (NASDAQ:OPB) Ratings Coverage

Out of 6 analysts covering Opus Bank (NASDAQ:OPB), 5 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 83% are positive. Opus Bank has been the topic of 6 analyst reports since July 29, 2015 according to StockzIntelligence Inc. As per Friday, September 16, the company rating was initiated by JMP Securities. As per Friday, June 3, the company rating was initiated by Hovde Group. The firm has “Outperform” rating by Credit Suisse given on Wednesday, June 29.

According to Zacks Investment Research, “Opus Bank is a state-charted commercial bank. The Bank accepts deposits, loans, and provides other services for the public. It provides relationship-based banking products, services and loan products for small to mid-sized commercial businesses, entrepreneurs, real estate investors, professionals and consumers. Opus Bank is headquartered in Irvine, California.”

More notable recent Opus Bank (NASDAQ:OPB) news were published by: Businesswire.com which released: “Opus Bank Announces Loan Charge-Offs Will Impact Third Quarter Earnings” on October 17, 2016, also Reuters.com with their article: “BRIEF-Opus Bank says loan charge-offs will impact Q3 earnings” published on October 17, 2016, Businesswire.com published: “Opus Bank Announces Second Quarter 2016 Results” on July 25, 2016. More interesting news about Opus Bank (NASDAQ:OPB) were released by: Businesswire.com and their article: “Opus Bank Releases Its Corporate Finance Report” published on September 28, 2016 as well as Businesswire.com‘s news article titled: “Curtis Glovier to Join Opus Bank from Fortress Investment Group” with publication date: August 03, 2016.

OPB Company Profile

Opus Bank, incorporated on September 23, 2010, is a California-chartered commercial bank. The Firm provides relationship banking products, services and solutions to its clients, which includes small and mid-sized companies, entrepreneurs, real estate investors, professionals and individuals. The Firm 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. It serves its clients with 58 banking offices located in metropolitan markets within California, Washington and Arizona.

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