Old Point Financial (NASDAQ:OPOF) Now Covered by Analysts at StockNews.com

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

Old Point Financial Trading Up 0.7 %

Shares of NASDAQ:OPOF opened at $24.64 on Friday. The business’s 50 day simple moving average is $20.86 and its 200 day simple moving average is $18.29. Old Point Financial has a 1 year low of $13.49 and a 1 year high of $25.00. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market capitalization of $125.17 million, a P/E ratio of 15.40 and a beta of 0.29.

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

Old Point Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Wednesday, December 4th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date is Wednesday, December 4th. Old Point Financial’s dividend payout ratio (DPR) is presently 35.00%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in shares of Old Point Financial by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 45,205 shares of the bank’s stock valued at $874,000 after purchasing an additional 693 shares in the last quarter. Fourthstone LLC lifted its position in shares of Old Point Financial by 44.9% during the 3rd quarter. Fourthstone LLC now owns 81,594 shares of the bank’s stock worth $1,576,000 after buying an additional 25,273 shares during the last quarter. Empowered Funds LLC boosted its stake in Old Point Financial by 5.4% in the third quarter. Empowered Funds LLC now owns 18,442 shares of the bank’s stock valued at $356,000 after buying an additional 938 shares in the last quarter. Finally, Eastern Bank bought a new position in Old Point Financial in the third quarter valued at about $57,000. 33.43% of the stock is currently owned by institutional investors and hedge funds.

About Old Point Financial

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.