New York State Common Retirement Fund Sells 6,359 Shares of Opus Bank (OPB)

New York State Common Retirement Fund Sells 6,359 Shares of Opus Bank (OPB)

New York State Common Retirement Fund reduced its stake in Opus Bank (NASDAQ:OPB) by 8.1% during the third quarter, Holdings Channel reports. The firm owned 72,245 shares of the company’s stock after selling 6,359 shares during the period. New York State Common Retirement Fund owned 0.21% of Opus Bank worth $2,555,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Tower Research Capital LLC TRC boosted its stake in shares of Opus Bank by 363.5% in the second quarter. Tower Research Capital LLC TRC now owns 3,212 shares of the company’s stock valued at $109,000 after buying an additional 2,519 shares in the last quarter. Mason Street Advisors LLC purchased a new stake in shares of Opus Bank during the second quarter valued at $125,000. A.R.T. Advisors LLC purchased a new stake in shares of Opus Bank during the second quarter valued at $248,000. Allianz Asset Management AG purchased a new stake in shares of Opus Bank during the second quarter valued at $254,000. Finally, Bbva Compass Bancshares Inc. purchased a new stake in shares of Opus Bank during the third quarter valued at $293,000. 93.82% of the stock is owned by hedge funds and other institutional investors.

Opus Bank (NASDAQ:OPB) traded up 0.18% during mid-day trading on Friday, hitting $27.25. 277,746 shares of the stock traded hands. Opus Bank has a one year low of $18.20 and a one year high of $38.19. The stock has a market capitalization of $879.58 million, a PE ratio of 20.05 and a beta of 1.17. The company has a 50 day moving average price of $28.80 and a 200-day moving average price of $30.05.

Several brokerages have weighed in on OPB. Zacks Investment Research cut shares of Opus Bank from a “hold” rating to a “strong sell” rating in a research note on Saturday, January 7th. Hovde Group upped their price objective on shares of Opus Bank from $25.00 to $31.00 and gave the stock an “outperform” rating in a research note on Monday, December 19th. Credit Suisse Group cut shares of Opus Bank from an “outperform” rating to a “neutral” rating in a research note on Monday, October 17th. Sandler O’Neill cut shares of Opus Bank from a “buy” rating to a “hold” rating in a research note on Thursday, October 20th. Finally, TheStreet cut shares of Opus Bank from a “buy” rating to a “hold” rating in a research note on Wednesday, October 19th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $35.80.

Opus Bank Company Profile

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.

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