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

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

OptimumBank Stock Down 0.8 %

OptimumBank stock opened at $4.72 on Friday. OptimumBank has a 1-year low of $3.13 and a 1-year high of $4.98. The business has a fifty day moving average price of $4.59 and a 200-day moving average price of $4.47. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a market capitalization of $45.69 million, a price-to-earnings ratio of 4.00 and a beta of 0.36.

OptimumBank (NASDAQ:OPHC) last issued its quarterly earnings results on Monday, August 5th. The bank reported $0.34 earnings per share for the quarter. OptimumBank had a return on equity of 12.66% and a net margin of 18.24%. The business had revenue of $9.94 million during the quarter.

Hedge Funds Weigh In On OptimumBank

Hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its stake 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 purchasing an additional 8,960 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of 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 purchasing an additional 9,228 shares during the period. Finally, EJF Capital LLC purchased a new stake in OptimumBank in the first quarter valued at approximately $1,100,000. 7.43% of the stock is 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.