OptimumBank (NASDAQ:OPHC) Stock Gets Downgrade from Zacks Research

OptimumBank (NASDAQ:OPHC) was downgraded by 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 reiterated a “buy” rating on shares of OptimumBank in a research report on Friday, August 14th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, OptimumBank has an average rating of “Moderate Buy” and an average target price of $6.67.

OptimumBank Stock Down 1.1%

OPHC stock opened at $9.17 on Monday. OptimumBank has a twelve month low of $3.92 and a twelve month high of $10.68. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.43. The company has a market cap of $115.74 million, a PE ratio of 6.95 and a beta of 0.31. The business’s 50-day simple moving average is $8.96 and its 200 day simple moving average is $6.66.

Institutional Trading of OptimumBank

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP bought a new position in shares of OptimumBank during the 2nd quarter worth approximately $2,521,000. Globeflex Capital L P acquired a new stake in shares of OptimumBank in the 2nd quarter valued at $89,000. BlackRock Inc. acquired a new stake in shares of OptimumBank in the 2nd quarter valued at $219,000. Finally, Renaissance Technologies LLC grew its holdings in shares of OptimumBank by 13.1% in 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 last quarter. Institutional investors own 7.43% of the company’s stock.

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.