StockNews.com Begins Coverage on Old Point Financial (NASDAQ:OPOF)

StockNews.com initiated coverage on shares of Old Point Financial (NASDAQ:OPOF) in a report released on Tuesday morning. The brokerage issued a hold rating on the bank’s stock.

Old Point Financial Stock Down 1.0 %

Shares of OPOF stock opened at $25.05 on Tuesday. Old Point Financial has a 52-week low of $13.49 and a 52-week high of $28.00. The stock has a market cap of $127.20 million, a price-to-earnings ratio of 15.66 and a beta of 0.26. The firm’s 50-day moving average is $23.26 and its 200-day moving average is $19.91. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.92 and a current ratio of 0.92.

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

Old Point Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Wednesday, December 4th were issued a $0.14 dividend. The ex-dividend date was Wednesday, December 4th. This represents a $0.56 annualized dividend and a dividend yield of 2.24%. Old Point Financial’s dividend payout ratio is currently 35.00%.

Institutional Trading of Old Point Financial

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC raised its holdings in 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 acquiring an additional 693 shares during the period. Fourthstone LLC increased its stake in shares of Old Point Financial by 44.9% during the third quarter. Fourthstone LLC now owns 81,594 shares of the bank’s stock worth $1,576,000 after purchasing an additional 25,273 shares during the period. Empowered Funds LLC lifted its holdings in 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 purchasing an additional 938 shares during the last quarter. Finally, Eastern Bank bought a new stake in Old Point Financial in the 3rd quarter valued at $57,000. Institutional investors own 33.43% of the company’s stock.

Old Point Financial Company Profile

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.