Old Point Financial (NASDAQ:OPOF) Earns Hold Rating from Analysts at StockNews.com

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

Old Point Financial Price Performance

Shares of NASDAQ:OPOF opened at $17.05 on Monday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.65. The stock has a market cap of $86.61 million, a PE ratio of 13.53 and a beta of 0.28. The company’s fifty day moving average is $15.11 and its 200 day moving average is $15.94. Old Point Financial has a 52 week low of $13.49 and a 52 week high of $22.33.

Old Point Financial (NASDAQ:OPOF) last announced its quarterly earnings results on Tuesday, April 30th. The bank reported $0.34 EPS for the quarter. Old Point Financial had a return on equity of 6.11% and a net margin of 7.71%. The business had revenue of $14.76 million for the quarter.

Old Point Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Wednesday, June 5th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date of this dividend was Wednesday, June 5th. Old Point Financial’s payout ratio is 44.44%.

Insider Activity

In related news, major shareholder Pl Capital Advisors, Llc acquired 17,403 shares of the stock in a transaction on Tuesday, May 14th. The stock was acquired at an average cost of $14.25 per share, for a total transaction of $247,992.75. Following the completion of the acquisition, the insider now directly owns 622,249 shares of the company’s stock, valued at approximately $8,867,048.25. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders have purchased 111,555 shares of company stock valued at $1,642,355. Corporate insiders own 21.11% of the company’s stock.

Hedge Funds Weigh In On Old Point Financial

An institutional investor recently raised its position in Old Point Financial stock. Empowered Funds LLC increased its holdings in shares of Old Point Financial Co. (NASDAQ:OPOF) by 8.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,244 shares of the bank’s stock after acquiring an additional 1,225 shares during the period. Empowered Funds LLC owned approximately 0.32% of Old Point Financial worth $277,000 at the end of the most recent reporting period. 33.43% of the stock is owned by institutional investors and hedge funds.

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.