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

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

Old Point Financial Stock Performance

OPOF opened at $25.72 on Monday. The firm has a market cap of $130.61 million, a P/E ratio of 16.08 and a beta of 0.26. Old Point Financial has a 1-year low of $13.49 and a 1-year high of $28.00. The company has a 50 day simple moving average of $22.93 and a two-hundred day simple moving average of $19.64. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.92 and a quick ratio of 0.92.

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

Old Point Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Wednesday, December 4th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend was Wednesday, December 4th. Old Point Financial’s dividend payout ratio (DPR) is presently 35.00%.

Hedge Funds Weigh In On Old Point Financial

Several institutional investors have recently bought and sold shares of the stock. Fourthstone LLC boosted its holdings 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 last quarter. Geode Capital Management LLC lifted its position 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 buying an additional 693 shares in the last quarter. Empowered Funds LLC boosted its stake in Old Point Financial by 5.4% during the third quarter. Empowered Funds LLC now owns 18,442 shares of the bank’s stock valued at $356,000 after buying an additional 938 shares during the last quarter. Finally, Eastern Bank bought a new position in Old Point Financial during the third quarter valued at approximately $57,000. 33.43% of the stock is owned by hedge funds and other institutional investors.

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.