OptimumBank (NASDAQ:OPHC) Stock Price Breaks Below Fifty Day Moving Average – Should You Sell?

OptimumBank Holdings, Inc. (NASDAQ:OPHC)’s share price crossed below its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $8.95 and traded as low as $8.65. OptimumBank shares last traded at $8.93, with a volume of 97,921 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on OPHC shares. Alliance Global Partners restated a “buy” rating on shares of OptimumBank in a research note on Friday, August 14th. Zacks Research cut shares of OptimumBank from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 2nd. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $6.67.

OptimumBank Stock Performance

The firm has a market capitalization of $112.71 million, a P/E ratio of 6.77 and a beta of 0.31. The stock has a 50-day moving average of $8.95 and a 200 day moving average of $6.76. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.12 and a current ratio of 1.12.

Institutional Trading of OptimumBank

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP bought a new position in shares of OptimumBank in the second quarter valued at about $2,521,000. Globeflex Capital L P acquired a new position in OptimumBank during the 2nd quarter worth about $89,000. BlackRock Inc. bought a new stake in OptimumBank during the 2nd quarter worth about $219,000. Finally, 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 worth $635,000 after acquiring an additional 14,400 shares during the last quarter. 7.43% of the stock is currently owned by institutional investors and hedge funds.

OptimumBank Company Profile

OptimumBank is a community bank headquartered in Fort Lauderdale, Florida. Through its banking operations, the company provides financial products and services to individuals, businesses and professional customers in South Florida. The bank’s offerings include deposit accounts, checking and savings products, certificates of deposit, online banking and other traditional consumer banking services. Its lending activities include commercial real estate loans, business financing, residential real estate loans and consumer loans.