Old Point Financial (NASDAQ:OPOF) Now Covered by Analysts at StockNews.com

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

Old Point Financial Price Performance

Shares of NASDAQ OPOF opened at $24.48 on Wednesday. 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 cap of $124.31 million, a price-to-earnings ratio of 15.30 and a beta of 0.26. The company’s 50-day moving average price is $24.05 and its 200 day moving average price is $20.47. Old Point Financial has a 52 week low of $13.49 and a 52 week high of $28.00.

Old Point Financial (NASDAQ:OPOF) last issued its quarterly earnings data on Thursday, October 24th. The bank reported $0.47 earnings per share 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 during the quarter.

Old Point Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Wednesday, December 4th were given a $0.14 dividend. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $0.56 annualized dividend and a dividend yield of 2.29%. Old Point Financial’s dividend payout ratio is currently 35.00%.

Institutional Trading of Old Point Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its stake in shares of Old Point Financial by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 45,205 shares of the bank’s stock worth $874,000 after purchasing an additional 693 shares during the last quarter. Fourthstone LLC lifted 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 valued at $1,576,000 after buying an additional 25,273 shares during the period. Empowered Funds LLC boosted its position in Old Point Financial by 5.4% during the third quarter. Empowered Funds LLC now owns 18,442 shares of the bank’s stock worth $356,000 after acquiring an additional 938 shares during the last quarter. Finally, Eastern Bank purchased a new stake in Old Point Financial in the 3rd quarter worth approximately $57,000. Hedge funds and other institutional investors own 33.43% of the company’s stock.

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.