OptimumBank (NASDAQ:OPHC) Shares Pass Above 50-Day Moving Average – Time to Sell?

OptimumBank Holdings, Inc. (NASDAQ:OPHC)’s share price passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $5.38 and traded as high as $5.56. OptimumBank shares last traded at $5.49, with a volume of 67,391 shares traded.

Wall Street Analyst Weigh In

OPHC has been the subject of a number of analyst reports. Alliance Global Partners initiated coverage on shares of OptimumBank in a research report on Tuesday, April 7th. They issued a “buy” rating and a $6.50 price objective for the company. Zacks Research upgraded shares of OptimumBank to a “hold” rating in a research report on Tuesday, April 21st. Compass Point upgraded shares of OptimumBank from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $6.00 to $6.50 in a research report on Wednesday, May 13th. Finally, Brean Capital initiated coverage on shares of OptimumBank in a research report on Monday, April 20th. They issued a “buy” rating and a $7.00 price objective for the company. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $6.67.

OptimumBank Stock Performance

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 $5.38 and its two-hundred day moving average is $4.88. The stock has a market cap of $67.35 million, a price-to-earnings ratio of 4.16 and a beta of 0.33.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC raised its position 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 last quarter. Globeflex Capital L P acquired a new position in shares of OptimumBank during the 1st quarter worth about $62,000. Susquehanna International Group LLP raised its position in shares of 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 purchasing an additional 24,569 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of OptimumBank by 22.0% during the 3rd quarter. Alliancebernstein L.P. now owns 652,860 shares of the bank’s stock worth $2,677,000 after purchasing an additional 117,841 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of 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 purchasing an additional 69,532 shares during the last quarter. Institutional investors and hedge funds own 7.43% of the company’s stock.

About OptimumBank

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.