Old Point Financial (NASDAQ:OPOF) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

Old Point Financial Co. (NASDAQ:OPOF)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $18.22 and traded as high as $24.47. Old Point Financial shares last traded at $24.47, with a volume of 713 shares.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on shares of Old Point Financial in a research report on Friday. They set a “hold” rating on the stock.

Old Point Financial Trading Up 0.7 %

The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.35. The business’s fifty day moving average is $20.86 and its 200 day moving average is $18.29. The stock has a market cap of $125.17 million, a PE ratio of 15.40 and a beta of 0.29.

Old Point Financial (NASDAQ:OPOF) last announced its quarterly earnings results on Thursday, October 24th. The bank reported $0.47 EPS for the quarter. The business 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 Announces Dividend

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

Hedge Funds Weigh In On Old Point Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fourthstone LLC grew its position in shares of Old Point Financial by 44.9% in the third quarter. Fourthstone LLC now owns 81,594 shares of the bank’s stock valued at $1,576,000 after purchasing an additional 25,273 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Old Point Financial by 1.6% during the 3rd 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. Empowered Funds LLC lifted its stake in Old Point Financial by 5.4% in the 3rd 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 acquired a new stake in Old Point Financial during the 3rd quarter valued at $57,000. 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.