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

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

Old Point Financial Stock Performance

NASDAQ:OPOF opened at $17.44 on Monday. The company has a market cap of $88.60 million, a P/E ratio of 13.94 and a beta of 0.29. Old Point Financial has a twelve month low of $13.49 and a twelve month high of $20.26. The company’s 50-day moving average price is $18.01 and its 200-day moving average price is $16.16. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.36.

Old Point Financial (NASDAQ:OPOF) last released its earnings results on Thursday, July 25th. The bank reported $0.50 earnings per share for the quarter. The business had revenue of $15.59 million for the quarter. Old Point Financial had a net margin of 8.41% and a return on equity of 6.69%.

Old Point Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Wednesday, September 4th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 3.21%. The ex-dividend date is Wednesday, September 4th. Old Point Financial’s payout ratio is currently 44.44%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Old Point Financial stock. PL Capital Advisors LLC increased its position in shares of Old Point Financial Co. (NASDAQ:OPOF) by 19.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 720,861 shares of the bank’s stock after purchasing an additional 116,015 shares during the period. Old Point Financial accounts for about 4.4% of PL Capital Advisors LLC’s holdings, making the stock its 7th biggest holding. PL Capital Advisors LLC owned approximately 14.19% of Old Point Financial worth $10,575,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 33.43% of the company’s stock.

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.