OptimumBank (NASDAQ:OPHC) Shares Break Above Fifty Day Moving Average – Time to Sell?

OptimumBank Holdings, Inc. (NASDAQ:OPHC) passed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $9.03 and traded as high as $9.09. OptimumBank shares last traded at $9.09, with a volume of 48,011 shares trading hands.

Analyst Ratings Changes

A number of brokerages have recently issued reports on OPHC. Zacks Research upgraded OptimumBank from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. Alliance Global Partners restated a “buy” rating on shares of OptimumBank in a report on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $6.67.

OptimumBank Stock Down 3.5%

The stock has a market cap of $109.81 million, a price-to-earnings ratio of 6.59 and a beta of 0.31. The firm’s fifty day moving average price is $9.07 and its two-hundred day moving average price is $6.85. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.12 and a quick ratio of 1.12.

Institutional Trading of OptimumBank

Hedge funds have recently bought and sold shares of the business. Globeflex Capital L P acquired a new position in shares of OptimumBank during the first quarter valued at about $62,000. BlackRock Inc. acquired a new position in OptimumBank during the 2nd quarter valued at about $219,000. Renaissance Technologies LLC raised its stake in shares of OptimumBank by 13.1% in the first 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. Finally, Wellington Management Group LLP bought a new position in shares of OptimumBank in the second quarter valued at approximately $2,521,000. Institutional investors and hedge funds own 7.43% of the company’s stock.

OptimumBank Company Profile

OptimumBank Holdings, Inc is the bank holding company for OptimumBank, a community-focused financial institution headquartered in Fort Lauderdale, Florida. The bank serves individuals, families, professionals and businesses primarily in South Florida, with a focus on relationship-based banking and personalized service.

OptimumBank offers a range of traditional banking products and services, including checking and savings accounts, certificates of deposit, consumer loans, commercial loans, residential real estate lending and commercial real estate financing.