Old Point Financial (NASDAQ:OPOF) Receives New Coverage from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Old Point Financial (NASDAQ:OPOFFree Report) in a report published on Thursday morning. The brokerage issued a hold rating on the bank’s stock.

Old Point Financial Price Performance

OPOF stock opened at $14.53 on Thursday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.93. Old Point Financial has a one year low of $13.49 and a one year high of $22.33. The stock has a market cap of $73.81 million, a PE ratio of 11.53 and a beta of 0.29. The firm has a 50 day simple moving average of $14.57 and a two-hundred day simple moving average of $16.26.

Old Point Financial (NASDAQ:OPOFGet Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The bank reported $0.34 earnings per share (EPS) for the quarter. Old Point Financial had a net margin of 7.71% and a return on equity of 6.11%. The company had revenue of $14.76 million during the quarter.

Old Point Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Wednesday, June 5th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date is Wednesday, June 5th. Old Point Financial’s dividend payout ratio (DPR) is presently 44.44%.

Insiders Place Their Bets

In other news, major shareholder Pl Capital Advisors, Llc purchased 2,101 shares of the business’s stock in a transaction on Friday, May 17th. The shares were acquired at an average price of $14.92 per share, with a total value of $31,346.92. Following the acquisition, the insider now directly owns 625,221 shares in the company, valued at $9,328,297.32. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have bought a total of 111,555 shares of company stock valued at $1,642,355 in the last quarter. Insiders own 21.11% of the company’s stock.

Institutional Investors Weigh In On Old Point Financial

A hedge fund recently raised its stake in Old Point Financial stock. Empowered Funds LLC lifted its stake in Old Point Financial Co. (NASDAQ:OPOFFree Report) by 8.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,244 shares of the bank’s stock after purchasing an additional 1,225 shares during the period. Empowered Funds LLC owned 0.32% of Old Point Financial worth $277,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 33.43% of the company’s stock.

About Old Point Financial

(Get Free Report)

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.

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