Old Point Financial Co. (NASDAQ:OPOF – Get Free Report)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $16.00 and traded as high as $19.38. Old Point Financial shares last traded at $19.38, with a volume of 1,471 shares traded.
Wall Street Analysts Forecast Growth
Separately, StockNews.com initiated coverage on Old Point Financial in a report on Friday. They set a “hold” rating for the company.
Check Out Our Latest Stock Analysis on Old Point Financial
Old Point Financial Price Performance
Old Point Financial (NASDAQ:OPOF – Get Free Report) last posted its earnings results on Thursday, July 25th. The bank reported $0.50 EPS for the quarter. The firm had revenue of $15.59 million for the quarter. Old Point Financial had a net margin of 8.41% and a return on equity of 6.69%.
Old Point Financial Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Wednesday, September 4th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend is Wednesday, September 4th. Old Point Financial’s payout ratio is 44.44%.
Insiders Place Their Bets
In other Old Point Financial news, major shareholder Pl Capital Advisors, Llc bought 3,100 shares of the stock in a transaction on Monday, June 3rd. The shares were purchased at an average cost of $15.00 per share, with a total value of $46,500.00. Following the completion of the transaction, the insider now directly owns 630,120 shares of the company’s stock, valued at approximately $9,451,800. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have acquired 93,341 shares of company stock valued at $1,387,703 over the last three months. 21.11% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Old Point Financial
An institutional investor recently raised its position in Old Point Financial stock. PL Capital Advisors LLC increased its position in shares of Old Point Financial Co. (NASDAQ:OPOF – Free Report) by 19.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 720,861 shares of the bank’s stock after buying an additional 116,015 shares during the quarter. Old Point Financial accounts for 4.4% of PL Capital Advisors LLC’s portfolio, making the stock its 7th biggest holding. PL Capital Advisors LLC owned approximately 14.19% of Old Point Financial worth $10,575,000 as of its most recent filing with the Securities & Exchange Commission. 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.
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