Wellington Management Group LLP Makes New Investment in OptimumBank Holdings, Inc. $OPHC

Key Points

• Wellington Management Group acquired 431,634 OptimumBank shares worth approximately $2.52 million, representing about 3.42% of the company.
• Several other institutional investors increased or initiated positions, bringing total hedge fund and institutional ownership to 7.43%.
• OPHC shares opened at $9.07, near the upper end of their 52-week range, while analysts maintained a “Buy” consensus; however, the $6.67 consensus price target is below the current share price.

Wellington Management Group LLP acquired a new stake in OptimumBank Holdings, Inc. (NASDAQ:OPHC - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 431,634 shares of the bank's stock, valued at approximately $2,521,000. Wellington Management Group LLP owned approximately 3.42% of OptimumBank as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in OPHC. Goldman Sachs Group Inc. lifted its position in shares of OptimumBank by 24.8% during the first quarter. Goldman Sachs Group Inc. now owns 28,809 shares of the bank's stock worth $118,000 after purchasing an additional 5,720 shares in the last quarter. Globeflex Capital L P acquired a new stake in OptimumBank during the 1st quarter valued at $62,000. Renaissance Technologies LLC grew its holdings in OptimumBank by 13.1% during the 1st quarter. Renaissance Technologies LLC now owns 124,600 shares of the bank's stock valued at $635,000 after purchasing an additional 14,400 shares in the last quarter. Brown Advisory Inc. purchased a new stake in OptimumBank during the 2nd quarter worth $89,000. Finally, Susquehanna International Group LLP increased its stake in 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 buying an additional 24,569 shares during the period. Hedge funds and other institutional investors own 7.43% of the company's stock.

OptimumBank Price Performance

Shares of OPHC stock opened at $9.07 on Friday. The firm has a fifty day moving average of $7.94 and a two-hundred day moving average of $6.33. The firm has a market cap of $114.48 million, a P/E ratio of 6.87 and a beta of 0.29. OptimumBank Holdings, Inc. has a 1-year low of $3.91 and a 1-year high of $10.68. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.12 and a quick ratio of 1.12.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Alliance Global Partners reissued a "buy" rating on shares of OptimumBank in a research report on Friday, August 14th. Zacks Research raised OptimumBank from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $6.67.

OptimumBank Company Profile

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.

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