OptimumBank Holdings, Inc. (NASDAQ:OPHC) Sees Significant Drop in Short Interest

OptimumBank Holdings, Inc. (NASDAQ:OPHC) was the target of a significant drop in short interest in March. As of March 15th, there was short interest totalling 16,900 shares, a drop of 50.3% from the February 28th total of 34,000 shares. Based on an average trading volume of 38,900 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.2% of the shares of the stock are short sold.

Hedge Funds Weigh In On OptimumBank

A number of institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its holdings in shares of OptimumBank by 4.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 66,086 shares of the bank’s stock worth $315,000 after acquiring an additional 2,611 shares during the period. Fourthstone LLC purchased a new stake in shares of OptimumBank in the 3rd quarter valued at approximately $323,000. Geode Capital Management LLC increased its holdings in shares of OptimumBank by 59.0% during the 3rd quarter. Geode Capital Management LLC now owns 81,411 shares of the bank’s stock worth $372,000 after buying an additional 30,202 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of OptimumBank by 17.1% during the 4th quarter. Renaissance Technologies LLC now owns 136,473 shares of the bank’s stock valued at $650,000 after buying an additional 19,971 shares during the period. Finally, Alliancebernstein L.P. lifted its holdings in OptimumBank by 20.7% in the fourth quarter. Alliancebernstein L.P. now owns 360,691 shares of the bank’s stock valued at $1,717,000 after acquiring an additional 61,971 shares during the last quarter. Hedge funds and other institutional investors own 7.43% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on OptimumBank in a research note on Saturday. They issued a “hold” rating for the company.

OptimumBank Price Performance

OPHC traded up $0.01 on Friday, reaching $4.17. 2,403 shares of the company’s stock were exchanged, compared to its average volume of 32,680. OptimumBank has a twelve month low of $4.00 and a twelve month high of $5.90. The stock has a market cap of $49.00 million, a PE ratio of 3.16 and a beta of 0.36. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.12 and a quick ratio of 1.12. The stock’s fifty day moving average price is $4.47 and its 200-day moving average price is $4.65.

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.