Old Point Financial (NASDAQ:OPOF) Research Coverage Started at StockNews.com

StockNews.com began coverage on shares of Old Point Financial (NASDAQ:OPOF) in a research report sent to investors on Wednesday morning. The firm issued a hold rating on the bank’s stock.

Old Point Financial Price Performance

Shares of NASDAQ OPOF opened at $24.48 on Wednesday. The stock has a fifty day moving average price of $24.05 and a 200 day moving average price of $20.47. Old Point Financial has a 1-year low of $13.49 and a 1-year high of $28.00. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market cap of $124.31 million, a PE ratio of 15.30 and a beta of 0.26.

Old Point Financial (NASDAQ:OPOF) last released its earnings results on Thursday, October 24th. The bank reported $0.47 EPS 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 during the quarter.

Old Point Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Wednesday, December 4th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.29%. The ex-dividend date was Wednesday, December 4th. Old Point Financial’s payout ratio is 35.00%.

Institutional Trading of Old Point Financial

A number of institutional investors have recently modified their holdings of OPOF. Eastern Bank acquired a new stake in Old Point Financial in the third quarter valued at $57,000. Empowered Funds LLC lifted its stake in shares of Old Point Financial by 5.4% in the third quarter. Empowered Funds LLC now owns 18,442 shares of the bank’s stock valued at $356,000 after purchasing an additional 938 shares during the period. Geode Capital Management LLC boosted its holdings in Old Point Financial by 1.6% during 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 in the last quarter. Finally, Fourthstone LLC grew its position in 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 buying an additional 25,273 shares during the period. 33.43% of the stock is currently 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.