Old Point Financial (NASDAQ:OPOF) Raised to Buy at StockNews.com

Old Point Financial (NASDAQ:OPOF) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

Old Point Financial Trading Down 0.3 %

Shares of Old Point Financial stock opened at $29.94 on Thursday. 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 company has a market capitalization of $152.04 million, a P/E ratio of 15.93 and a beta of 0.17. Old Point Financial has a 1 year low of $13.49 and a 1 year high of $30.95. The company’s fifty day moving average is $28.12 and its two-hundred day moving average is $23.77.

Old Point Financial (NASDAQ:OPOF) last released its quarterly earnings results on Thursday, January 30th. The bank reported $0.57 earnings per share (EPS) for the quarter. Old Point Financial had a return on equity of 8.56% and a net margin of 11.08%.

Hedge Funds Weigh In On Old Point Financial

Institutional investors have recently bought and sold shares of the company. Bridgeway Capital Management LLC boosted its holdings in shares of Old Point Financial by 1.9% in the fourth quarter. Bridgeway Capital Management LLC now owns 18,951 shares of the bank’s stock valued at $494,000 after acquiring an additional 350 shares in the last quarter. Northern Trust Corp lifted its position in Old Point Financial by 35.0% in the fourth quarter. Northern Trust Corp now owns 17,440 shares of the bank’s stock valued at $454,000 after purchasing an additional 4,521 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Old Point Financial by 6.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 20,416 shares of the bank’s stock valued at $532,000 after purchasing an additional 1,246 shares in the last quarter. Fourthstone LLC boosted its holdings in Old Point Financial by 322.4% in the 4th quarter. Fourthstone LLC now owns 344,620 shares of the bank’s stock valued at $8,981,000 after purchasing an additional 263,026 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in Old Point Financial by 18.1% during the 4th quarter. Renaissance Technologies LLC now owns 35,929 shares of the bank’s stock worth $936,000 after purchasing an additional 5,500 shares during the period. 33.43% of the stock is 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.