OptimumBank (NASDAQ:OPHC) Upgraded to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of OptimumBank (NASDAQ:OPHC) from a hold rating to a strong-buy rating in a research report released on Monday morning,Zacks.com reports.

A number of other analysts have also recently weighed in on the stock. Alliance Global Partners initiated coverage on shares of OptimumBank in a report on Tuesday, April 7th. They set a “buy” rating and a $6.50 price objective on the stock. Compass Point upgraded shares of OptimumBank from a “neutral” rating to a “buy” rating and upped their target price for the company from $6.00 to $6.50 in a report on Wednesday, May 13th. Finally, Brean Capital assumed coverage on shares of OptimumBank in a research report on Monday, April 20th. They issued a “buy” rating and a $7.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $6.67.

OptimumBank Price Performance

OPHC stock opened at $7.05 on Monday. The business has a 50 day moving average price of $5.79 and a 200 day moving average price of $5.40. The stock has a market cap of $86.49 million, a price-to-earnings ratio of 5.34 and a beta of 0.29. OptimumBank has a fifty-two week low of $3.91 and a fifty-two week high of $7.10. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.43.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Alliancebernstein L.P. boosted its stake in shares of OptimumBank by 22.0% during the third quarter. Alliancebernstein L.P. now owns 652,860 shares of the bank’s stock worth $2,677,000 after buying an additional 117,841 shares during the period. Vanguard Group Inc. lifted its position in OptimumBank by 22.0% during the 3rd quarter. Vanguard Group Inc. now owns 385,823 shares of the bank’s stock worth $1,582,000 after acquiring an additional 69,532 shares during the period. Susquehanna International Group LLP lifted its position in OptimumBank by 112.2% during the 3rd quarter. Susquehanna International Group LLP now owns 46,460 shares of the bank’s stock worth $190,000 after acquiring an additional 24,569 shares during the period. Brown Advisory Inc. purchased a new position in shares of OptimumBank in the 2nd quarter valued at approximately $89,000. Finally, Renaissance Technologies LLC grew its stake in shares of OptimumBank by 16.4% in the 4th quarter. Renaissance Technologies LLC now owns 110,200 shares of the bank’s stock valued at $468,000 after purchasing an additional 15,500 shares during the last quarter. 7.43% of the stock is owned by hedge funds and other institutional investors.

OptimumBank Company Profile

OptimumBank, Inc (NASDAQ:OPHC) is a Texas-chartered commercial bank holding company headquartered in Dallas, Texas, with community banking operations primarily in Texas and South Florida. Founded in 2005, OptimumBank delivers a full suite of deposit and lending products designed to meet the needs of small-to-medium sized businesses, real estate developers, and individual consumers. Through its network of full-service branches and digital platforms, the bank focuses on relationship-driven banking and personalized service.

On the lending side, OptimumBank offers commercial real estate financing, including construction loans, permanent mortgage loans, and land acquisition facilities.