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

StockNews.com assumed coverage on shares of Old Point Financial (NASDAQ:OPOF) in a research note issued to investors on Tuesday. The firm issued a hold rating on the bank’s stock.

Old Point Financial Price Performance

Shares of NASDAQ:OPOF opened at $18.99 on Tuesday. The firm has a market cap of $96.47 million, a price-to-earnings ratio of 15.07 and a beta of 0.28. The firm has a fifty day moving average price of $15.41 and a 200 day moving average price of $15.94. Old Point Financial has a fifty-two week low of $13.49 and a fifty-two week high of $22.33. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.93.

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 6.78% and a net margin of 8.41%. The company had revenue of $14.76 million during the quarter.

Old Point Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Wednesday, June 5th were given a dividend of $0.14 per share. The ex-dividend date was Wednesday, June 5th. This represents a $0.56 annualized dividend and a yield of 2.95%. Old Point Financial’s dividend payout ratio (DPR) is currently 44.44%.

Insider Transactions at Old Point Financial

In related news, major shareholder Pl Capital Advisors, Llc purchased 83,169 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were bought at an average price of $14.80 per share, for a total transaction of $1,230,901.20. Following the acquisition, the insider now owns 720,861 shares of the company’s stock, valued at approximately $10,668,742.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have acquired a total of 111,625 shares of company stock worth $1,643,708 in the last three months. Insiders own 21.11% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Old Point Financial stock. Empowered Funds LLC grew its stake in shares of Old Point Financial Co. (NASDAQ:OPOF) by 8.2% in the 1st quarter, according to its most recent disclosure with the 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 about 0.32% of Old Point Financial worth $277,000 at the end of the most recent quarter. 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.