StockNews.com Initiates Coverage on OptimumBank (NASDAQ:OPHC)

StockNews.com started coverage on shares of OptimumBank (NASDAQ:OPHC) in a report released on Monday morning. The brokerage issued a hold rating on the bank’s stock.

OptimumBank Stock Down 1.4 %

OPHC stock opened at $4.89 on Monday. The firm’s 50-day moving average is $4.71 and its two-hundred day moving average is $4.55. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $49.34 million, a price-to-earnings ratio of 3.70 and a beta of 0.36. OptimumBank has a 52 week low of $3.21 and a 52 week high of $5.90.

Hedge Funds Weigh In On OptimumBank

Hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its holdings in shares of OptimumBank by 52.2% in the second quarter. Dimensional Fund Advisors LP now owns 26,114 shares of the bank’s stock valued at $112,000 after buying an additional 8,960 shares during the period. Renaissance Technologies LLC boosted its holdings in OptimumBank by 21.4% during the second quarter. Renaissance Technologies LLC now owns 52,428 shares of the bank’s stock worth $225,000 after buying an additional 9,228 shares in the last quarter. Fourthstone LLC acquired a new position in OptimumBank in the third quarter worth approximately $323,000. Geode Capital Management LLC increased its holdings in shares of OptimumBank by 59.0% in the third quarter. Geode Capital Management LLC now owns 81,411 shares of the bank’s stock valued at $372,000 after buying an additional 30,202 shares in the last quarter. Finally, EJF Capital LLC acquired a new stake in shares of OptimumBank during the 1st quarter valued at $1,100,000. 7.43% of the stock is currently owned by institutional investors and hedge funds.

OptimumBank Company Profile

OptimumBank Holdings, Inc operates as the bank holding company for OptimumBank that provides various consumer and commercial banking services to individuals and businesses. It accepts demand interest-bearing and noninterest-bearing, savings, money market, and NOW accounts, as well as time deposits, wire transfers, ACH services, and certificates of deposit.