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

StockNews.com began coverage on shares of Old Point Financial (NASDAQ:OPOF) in a report issued on Wednesday. The brokerage issued a hold rating on the bank’s stock.

Old Point Financial Stock Up 1.4 %

OPOF stock opened at $22.52 on Wednesday. The company has a market cap of $114.40 million, a PE ratio of 13.88 and a beta of 0.29. The business has a 50-day simple moving average of $19.79 and a 200 day simple moving average of $17.63. Old Point Financial has a 52 week low of $13.49 and a 52 week high of $22.85. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.35.

Old Point Financial (NASDAQ:OPOF) last issued its earnings results on Thursday, October 24th. The bank reported $0.47 EPS for the quarter. The firm had revenue of $15.78 million during the quarter. Old Point Financial had a return on equity of 7.38% and a net margin of 9.47%.

Old Point Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Wednesday, December 4th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.49%. The ex-dividend date is Wednesday, December 4th. Old Point Financial’s payout ratio is 35.00%.

Institutional Trading of Old Point Financial

Hedge funds and other institutional investors have recently made changes to their positions in the company. Eastern Bank bought a new stake in shares of Old Point Financial during the third quarter worth about $57,000. Empowered Funds LLC grew its holdings in shares of Old Point Financial by 5.4% during the third quarter. Empowered Funds LLC now owns 18,442 shares of the bank’s stock worth $356,000 after purchasing an additional 938 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Old Point Financial by 1.6% during the third quarter. Geode Capital Management LLC now owns 45,205 shares of the bank’s stock worth $874,000 after purchasing an additional 693 shares during the last quarter. Fourthstone LLC grew its holdings in shares of Old Point Financial by 44.9% during the third quarter. Fourthstone LLC now owns 81,594 shares of the bank’s stock worth $1,576,000 after purchasing an additional 25,273 shares during the last quarter. Finally, PL Capital Advisors LLC grew its holdings in shares of Old Point Financial by 19.2% during the second quarter. PL Capital Advisors LLC now owns 720,861 shares of the bank’s stock worth $10,575,000 after purchasing an additional 116,015 shares during the last quarter. 33.43% of the stock is currently owned by institutional investors.

Old Point Financial Company Profile

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.