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

StockNews.com started coverage on shares of Old Point Financial (NASDAQ:OPOF) in a report released on Sunday. The brokerage issued a hold rating on the bank’s stock.

Old Point Financial Price Performance

Shares of NASDAQ:OPOF opened at $26.06 on Friday. The firm has a 50 day moving average of $22.24 and a 200-day moving average of $19.18. Old Point Financial has a 12 month low of $13.49 and a 12 month high of $28.00. 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 stock has a market capitalization of $132.33 million, a PE ratio of 16.29 and a beta of 0.29.

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

Old Point Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Wednesday, December 4th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 2.15%. The ex-dividend date was Wednesday, December 4th. Old Point Financial’s dividend payout ratio (DPR) is presently 35.00%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Eastern Bank bought a new stake in shares of Old Point Financial during the 3rd quarter valued at approximately $57,000. Empowered Funds LLC boosted its position in Old Point Financial by 5.4% in 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 in the last quarter. Fourthstone LLC grew its stake in shares of Old Point Financial by 44.9% during the third quarter. Fourthstone LLC now owns 81,594 shares of the bank’s stock worth $1,576,000 after buying an additional 25,273 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Old Point Financial by 1.6% during 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. 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.