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

StockNews.com assumed coverage on shares of Old Point Financial (NASDAQ:OPOF) in a research note published on Friday. The firm issued a hold rating on the bank’s stock.

Old Point Financial Price Performance

NASDAQ OPOF opened at $25.18 on Friday. 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 firm has a market capitalization of $127.91 million, a P/E ratio of 13.39 and a beta of 0.26. The company has a 50-day moving average price of $24.65 and a 200-day moving average price of $21.02. Old Point Financial has a 52 week low of $13.49 and a 52 week high of $28.00.

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

Old Point Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Wednesday, December 4th were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend was Wednesday, December 4th. Old Point Financial’s payout ratio is 29.79%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in OPOF. PL Capital Advisors LLC raised its stake in Old Point Financial by 2,506.0% during the 4th quarter. PL Capital Advisors LLC now owns 18,785,638 shares of the bank’s stock worth $489,554,000 after acquiring an additional 18,064,777 shares during the period. Geode Capital Management LLC increased its stake in shares of Old Point Financial by 1.6% in the third quarter. Geode Capital Management LLC now owns 45,205 shares of the bank’s stock worth $874,000 after purchasing an additional 693 shares in the last quarter. Fourthstone LLC raised its position in shares of Old Point Financial by 44.9% during the 3rd 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 period. Empowered Funds LLC lifted its stake in shares of Old Point Financial by 5.4% during 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 purchased a new position in shares of Old Point Financial during the 3rd quarter valued at $57,000. 33.43% of the stock is 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.