Old Point Financial (NASDAQ:OPOF) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of Old Point Financial (NASDAQ:OPOFFree Report) in a report issued on Sunday. The firm issued a hold rating on the bank’s stock.

Old Point Financial Stock Performance

Shares of OPOF stock opened at $15.15 on Friday. The stock has a market capitalization of $76.96 million, a P/E ratio of 12.02 and a beta of 0.27. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65. The firm’s 50 day moving average is $15.26 and its 200 day moving average is $16.57. Old Point Financial has a 12 month low of $13.49 and a 12 month high of $22.33.

Old Point Financial (NASDAQ:OPOFGet Free Report) last posted its earnings results on Tuesday, April 30th. The bank reported $0.34 earnings per share (EPS) for the quarter. Old Point Financial had a net margin of 7.71% and a return on equity of 6.11%. The business had revenue of $14.76 million for the quarter.

Insiders Place Their Bets

In related news, major shareholder Pl Capital Advisors, Llc bought 2,101 shares of the company’s stock in a transaction dated Friday, May 17th. The stock was purchased at an average cost of $14.92 per share, with a total value of $31,346.92. Following the transaction, the insider now owns 625,221 shares in the company, valued at approximately $9,328,297.32. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have bought a total of 19,684 shares of company stock valued at $281,905 in the last quarter. Insiders own 21.11% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Old Point Financial stock. Empowered Funds LLC lifted its stake in Old Point Financial Co. (NASDAQ:OPOFFree Report) by 8.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,244 shares of the bank’s stock after acquiring an additional 1,225 shares during the quarter. Empowered Funds LLC owned 0.32% of Old Point Financial worth $277,000 as of its most recent filing with the Securities & Exchange Commission. 33.43% of the stock is owned by hedge funds and other institutional investors.

Old Point Financial Company Profile

(Get Free Report)

Old Point Financial Corporation operates as the bank holding company for The Old Point National Bank of Phoebus that provides consumer, mortgage, and business banking services for individual and commercial customers in Virginia. It offers deposit products, including interest-bearing transaction accounts, money market deposit accounts, savings accounts, time deposits, and demand deposits.

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