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

Posted by Tyrone Williams on Nov 5th, 2024

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

OptimumBank Stock Performance

Shares of OptimumBank stock opened at $4.80 on Friday. The firm’s 50 day moving average is $4.59 and its two-hundred day moving average is $4.48. OptimumBank has a 52 week low of $3.15 and a 52 week high of $4.98. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $46.46 million, a P/E ratio of 4.07 and a beta of 0.36.

OptimumBank (NASDAQ:OPHC – Get Free Report) last announced its earnings results on Monday, August 5th. The bank reported $0.34 EPS for the quarter. The business had revenue of $9.94 million for the quarter. OptimumBank had a net margin of 18.24% and a return on equity of 12.66%.

Institutional Investors Weigh In On OptimumBank

Institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC lifted its stake in OptimumBank by 21.4% in the 2nd quarter. Renaissance Technologies LLC now owns 52,428 shares of the bank’s stock valued at $225,000 after buying an additional 9,228 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of OptimumBank by 52.2% in the second quarter. Dimensional Fund Advisors LP now owns 26,114 shares of the bank’s stock worth $112,000 after acquiring an additional 8,960 shares during the last quarter. Finally, EJF Capital LLC purchased a new stake in shares of OptimumBank in the first quarter valued at $1,100,000. Hedge funds and other institutional investors own 7.43% of the company’s stock.

About OptimumBank

(Get Free Report)

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.