OptimumBank (NASDAQ:OPHC) Rating Increased to Strong-Buy at Zacks Research

Key Points

• Zacks Research upgraded OptimumBank from “hold” to “strong buy,” while other analysts maintain positive views. The stock has a consensus “buy” rating and an average price target of $6.67.
• OptimumBank shares rose 5.7% to open at $7.05, near their 52-week high of $7.10. The bank has a market capitalization of approximately $86.5 million and a price-to-earnings ratio of 5.34.
• Institutional investors increased their exposure, including Goldman Sachs, Renaissance Technologies, and Susquehanna International Group. Institutional investors and hedge funds collectively own 7.43% of the company.

OptimumBank (NASDAQ:OPHC - Get Free Report) was upgraded by stock analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other equities research analysts also recently issued research reports about the company. Alliance Global Partners began coverage on OptimumBank in a research report on Tuesday, April 7th. They set a "buy" rating and a $6.50 price objective for the company. Compass Point upgraded OptimumBank from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $6.00 to $6.50 in a report on Wednesday, May 13th. Finally, Brean Capital started coverage on OptimumBank in a research report on Monday, April 20th. They set a "buy" rating and a $7.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $6.67.

OptimumBank Trading Up 5.7%

OptimumBank stock opened at $7.05 on Monday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market cap of $86.49 million, a price-to-earnings ratio of 5.34 and a beta of 0.29. OptimumBank has a 1 year low of $3.91 and a 1 year high of $7.10. The firm's 50 day moving average price is $5.79 and its two-hundred day moving average price is $5.40.

Institutional Investors Weigh In On OptimumBank

A number of large investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. lifted its position in shares of OptimumBank by 24.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 28,809 shares of the bank's stock valued at $118,000 after acquiring 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 raised its stake 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 during the period. Brown Advisory Inc. purchased a new stake in shares of OptimumBank in the second quarter valued at $89,000. Finally, Susquehanna International Group LLP lifted its holdings in shares of OptimumBank by 112.2% in the third quarter. Susquehanna International Group LLP now owns 46,460 shares of the bank's stock valued at $190,000 after purchasing an additional 24,569 shares in the last quarter. Institutional investors and hedge funds own 7.43% of the company's stock.

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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