Old Point Financial (NASDAQ:OPOF) Earns Hold Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Old Point Financial (NASDAQ:OPOF) in a research note published on Monday. The firm issued a hold rating on the bank’s stock.

Old Point Financial Price Performance

OPOF opened at $25.72 on Monday. The company’s 50-day simple moving average is $22.93 and its two-hundred day simple moving average is $19.64. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market capitalization of $130.61 million, a P/E ratio of 16.08 and a beta of 0.26. Old Point Financial has a 52-week low of $13.49 and a 52-week high of $28.00.

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

Old Point Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Wednesday, December 4th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend was Wednesday, December 4th. Old Point Financial’s dividend payout ratio (DPR) is presently 35.00%.

Institutional Inflows and Outflows

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

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.