Opus Bank (OPB) was Initiated by Hovde Group to “Outperform” and the brokerage firm has set the Price Target at $44. Hovde Group advised their investors in a research report released on Jun 3, 2016.
Opus Bank opened for trading at $37.38 and hit $38.02 on the upside on Wednesday, eventually ending the session at $37.82, with a gain of 0.42% or 0.16 points. The heightened volatility saw the trading volume jump to 3,20,278 shares. Company has a market cap of $1,230 M.
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.