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

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

Old Point Financial Stock Up 0.1 %

OPOF opened at $24.88 on Friday. The business has a 50 day simple moving average of $21.40 and a 200-day simple moving average of $18.62. Old Point Financial has a 12 month low of $13.49 and a 12 month high of $25.50. The stock has a market capitalization of $126.34 million, a P/E ratio of 15.55 and a beta of 0.29. 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 released its earnings results on Thursday, October 24th. The bank reported $0.47 EPS for the quarter. Old Point Financial had a return on equity of 7.38% and a net margin of 9.47%. The company had revenue of $15.78 million during the quarter.

Old Point Financial Announces Dividend

The business 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. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $0.56 dividend on an annualized basis and a yield of 2.25%. Old Point Financial’s dividend payout ratio (DPR) is presently 35.00%.

Institutional Investors Weigh In On Old Point Financial

A number of institutional investors and hedge funds have recently modified their holdings of the company. Eastern Bank acquired a new position in Old Point Financial during the third quarter worth $57,000. Empowered Funds LLC raised 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 worth $356,000 after buying an additional 938 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Old Point Financial by 1.6% in the 3rd 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 stake in Old Point Financial by 44.9% in the 3rd quarter. Fourthstone LLC now owns 81,594 shares of the bank’s stock valued at $1,576,000 after acquiring an additional 25,273 shares during the last quarter. 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.