OptimumBank (NASDAQ:OPHC) Stock Price Crosses Above Fifty Day Moving Average – What’s Next?
by Renee Jackson · The Cerbat GemOptimumBank Holdings, Inc. (NASDAQ:OPHC – Get Free Report) shares crossed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $8.76 and traded as high as $9.05. OptimumBank shares last traded at $8.92, with a volume of 42,431 shares traded.
Analyst Upgrades and Downgrades
Several research analysts recently issued reports on OPHC shares. Alliance Global Partners reaffirmed a “buy” rating on shares of OptimumBank in a research note on Friday, August 14th. Zacks Research raised OptimumBank from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to MarketBeat.com, OptimumBank presently has a consensus rating of “Buy” and an average target price of $6.67.
Get Our Latest Stock Report on OptimumBank
OptimumBank Stock Down 0.3%
The stock has a market cap of $109.69 million, a price-to-earnings ratio of 6.58 and a beta of 0.29. 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 firm’s 50 day moving average is $8.81 and its two-hundred day moving average is $6.70.
Hedge Funds Weigh In On OptimumBank
Institutional investors and hedge funds have recently modified their holdings of the company. Wellington Management Group LLP purchased a new stake in OptimumBank in the 2nd quarter worth approximately $2,521,000. Globeflex Capital L P acquired a new position in OptimumBank in the 2nd quarter valued at $89,000. BlackRock Inc. purchased a new position in shares of OptimumBank during the 2nd quarter worth $219,000. Finally, Renaissance Technologies LLC lifted its stake in shares of OptimumBank by 13.1% during the 1st quarter. Renaissance Technologies LLC now owns 124,600 shares of the bank’s stock worth $635,000 after purchasing an additional 14,400 shares during the period. Hedge funds and other institutional investors own 7.43% of the company’s stock.
About OptimumBank
OptimumBank Holdings, Inc is the bank holding company for OptimumBank, a community bank serving businesses, professionals and individuals in South Florida. The bank focuses on relationship-based banking and provides financial services through its branch network and digital banking channels.
OptimumBank’s products and services include commercial and residential real estate lending, business and consumer loans, checking and savings accounts, certificates of deposit, online banking and other customary deposit and treasury-management services.