OptimumBank (NASDAQ:OPHC) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of OptimumBank (NASDAQ:OPHC) in a research note published on Friday morning. The brokerage issued a hold rating on the bank’s stock.

OptimumBank Trading Down 0.2 %

OPHC stock opened at $4.71 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.43. OptimumBank has a 52-week low of $3.89 and a 52-week high of $5.90. The company’s 50-day simple moving average is $4.85 and its 200-day simple moving average is $4.63. The firm has a market cap of $47.52 million, a P/E ratio of 3.57 and a beta of 0.36.

Hedge Funds Weigh In On OptimumBank

A number of large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its stake in OptimumBank by 52.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 26,114 shares of the bank’s stock valued at $112,000 after purchasing an additional 8,960 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of OptimumBank by 21.4% in the second quarter. Renaissance Technologies LLC now owns 52,428 shares of the bank’s stock valued at $225,000 after buying an additional 9,228 shares during the last quarter. Fourthstone LLC purchased a new position in shares of OptimumBank in the third quarter worth about $323,000. Finally, Geode Capital Management LLC boosted its position in OptimumBank by 59.0% during the third quarter. Geode Capital Management LLC now owns 81,411 shares of the bank’s stock worth $372,000 after acquiring an additional 30,202 shares during the last quarter. 7.43% of the stock is currently owned by institutional investors and hedge funds.

About OptimumBank

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.