OptimumBank (NASDAQ:OPHC) Stock Dropped to Hold by Zacks Research

OptimumBank (NASDAQ:OPHC) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday, Zacks reports.

Separately, Alliance Global Partners reissued a “buy” rating on shares of OptimumBank in a report on Friday, August 14th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, OptimumBank has a consensus rating of “Moderate Buy” and an average target price of $6.67.

OptimumBank Trading Down 1.1%

OPHC stock opened at $9.17 on Monday. OptimumBank has a 1-year low of $3.92 and a 1-year high of $10.68. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market capitalization of $115.74 million, a price-to-earnings ratio of 6.95 and a beta of 0.31. The business has a 50 day simple moving average of $8.96 and a two-hundred day simple moving average of $6.66.

Hedge Funds Weigh In On OptimumBank

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Globeflex Capital L P purchased a new stake in shares of OptimumBank during the 1st quarter valued at about $62,000. BlackRock Inc. purchased a new position in OptimumBank in the second quarter worth about $219,000. Renaissance Technologies LLC grew its position in OptimumBank by 13.1% in the first quarter. Renaissance Technologies LLC now owns 124,600 shares of the bank’s stock worth $635,000 after acquiring an additional 14,400 shares in the last quarter. Finally, Wellington Management Group LLP bought a new stake in OptimumBank during the second quarter worth approximately $2,521,000. 7.43% of the stock is owned by hedge funds and other institutional investors.

About OptimumBank

OptimumBank is a community bank headquartered in Fort Lauderdale, Florida. Through its banking operations, the company provides financial products and services to individuals, businesses and professional customers in South Florida.

The bank’s offerings include deposit accounts, checking and savings products, certificates of deposit, online banking and other traditional consumer banking services. Its lending activities include commercial real estate loans, business financing, residential real estate loans and consumer loans.

OptimumBank was established in 2000 and has focused on serving the South Florida market through relationship-based banking.