OptimumBank (NASDAQ:OPHC) Stock Crosses Above Fifty Day Moving Average – Should You Sell?

OptimumBank Holdings, Inc. (NASDAQ:OPHC)’s stock price crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $5.57 and traded as high as $5.90. OptimumBank shares last traded at $5.84, with a volume of 27,423 shares traded.

Analysts Set New Price Targets

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

OptimumBank Price Performance

The business has a fifty day moving average of $5.59 and a 200-day moving average of $5.17. The firm has a market cap of $70.30 million, a PE ratio of 4.34 and a beta of 0.33. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.43.

Hedge Funds Weigh In On OptimumBank

Institutional investors have recently made changes to their positions in the stock. Alliancebernstein L.P. lifted its stake in 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 purchasing an additional 117,841 shares during the last quarter. Vanguard Group Inc. increased 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 valued at $1,582,000 after purchasing an additional 69,532 shares during the last quarter. Susquehanna International Group LLP raised its holdings 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 valued at $190,000 after buying an additional 24,569 shares in the last quarter. Brown Advisory Inc. purchased a new position in shares of OptimumBank during the 2nd quarter valued at about $89,000. Finally, Renaissance Technologies LLC lifted its position in OptimumBank by 16.4% in the 4th quarter. Renaissance Technologies LLC now owns 110,200 shares of the bank’s stock worth $468,000 after buying an additional 15,500 shares during the last quarter. Institutional investors 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.