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

Equities researchers at StockNews.com assumed coverage on shares of OptimumBank (NASDAQ:OPHC) in a report released on Friday. The brokerage set a “hold” rating on the bank’s stock.

OptimumBank Stock Down 2.9 %

OptimumBank stock opened at $4.72 on Friday. The company has a market capitalization of $47.62 million, a P/E ratio of 3.58 and a beta of 0.36. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.12 and a current ratio of 1.12. OptimumBank has a fifty-two week low of $3.78 and a fifty-two week high of $5.90. The stock has a 50-day simple moving average of $4.84 and a 200-day simple moving average of $4.63.

Hedge Funds Weigh In On OptimumBank

A number of hedge funds have recently modified their holdings of the business. Geode Capital Management LLC raised its position in OptimumBank by 59.0% in the 3rd quarter. Geode Capital Management LLC now owns 81,411 shares of the bank’s stock valued at $372,000 after purchasing an additional 30,202 shares during the last quarter. Fourthstone LLC purchased a new stake in shares of OptimumBank in the third quarter valued at about $323,000. Renaissance Technologies LLC boosted its stake 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 buying an additional 9,228 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of OptimumBank by 52.2% during the second quarter. Dimensional Fund Advisors LP now owns 26,114 shares of the bank’s stock worth $112,000 after buying an additional 8,960 shares during the last quarter. 7.43% of the stock is currently owned by hedge funds and other institutional investors.

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.