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

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

Old Point Financial Price Performance

OPOF stock opened at $29.90 on Wednesday. Old Point Financial has a 12-month low of $13.49 and a 12-month high of $30.95. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.35. The firm’s 50-day moving average price is $27.63 and its two-hundred day moving average price is $23.36. The stock has a market capitalization of $151.83 million, a price-to-earnings ratio of 15.90 and a beta of 0.17.

Old Point Financial (NASDAQ:OPOF) last announced its quarterly earnings results on Thursday, January 30th. The bank reported $0.57 earnings per share (EPS) 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 will be paid on Friday, March 28th. Investors of record on Wednesday, March 5th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend is Wednesday, March 5th. Old Point Financial’s dividend payout ratio is currently 29.79%.

Institutional Investors Weigh In On Old Point Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of OPOF. Empowered Funds LLC grew its holdings in Old Point Financial by 5.4% in the third quarter. Empowered Funds LLC now owns 18,442 shares of the bank’s stock worth $356,000 after purchasing an additional 938 shares during the period. Fourthstone LLC grew its holdings in Old Point Financial by 44.9% in the third quarter. Fourthstone LLC now owns 81,594 shares of the bank’s stock worth $1,576,000 after purchasing an additional 25,273 shares during the period. Geode Capital Management LLC lifted 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 buying an additional 693 shares in the last quarter. PL Capital Advisors LLC lifted its stake in shares of Old Point Financial by 2,506.0% in the fourth quarter. PL Capital Advisors LLC now owns 18,785,638 shares of the bank’s stock worth $489,554,000 after buying an additional 18,064,777 shares in the last quarter. Finally, OLD Point Trust & Financial Services N A lifted its stake in shares of Old Point Financial by 1.1% in the fourth quarter. OLD Point Trust & Financial Services N A now owns 263,439 shares of the bank’s stock worth $6,865,000 after buying an additional 2,901 shares in the last quarter. Hedge funds and other institutional investors 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.