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

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

OptimumBank Stock Down 0.8 %

OPHC opened at $4.90 on Thursday. The firm’s 50 day simple moving average is $4.82 and its two-hundred day simple moving average is $4.62. The company has a market capitalization of $49.44 million, a PE ratio of 3.71 and a beta of 0.36. OptimumBank has a 1-year low of $3.60 and a 1-year high of $5.90. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.43.

Hedge Funds Weigh In On OptimumBank

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its holdings in OptimumBank by 52.2% during the 2nd 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 increased its position in OptimumBank by 21.4% during the second quarter. Renaissance Technologies LLC now owns 52,428 shares of the bank’s stock valued at $225,000 after acquiring an additional 9,228 shares during the last quarter. Fourthstone LLC bought a new position in OptimumBank during the third quarter valued at $323,000. Finally, Geode Capital Management LLC raised its stake 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 acquiring an additional 30,202 shares during the period. 7.43% of the stock is owned by hedge funds and other institutional investors.

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.