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

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

Old Point Financial Stock Up 0.6 %

Shares of Old Point Financial stock opened at $17.92 on Friday. The company has a market cap of $91.03 million, a P/E ratio of 14.22 and a beta of 0.29. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.91 and a current ratio of 0.91. Old Point Financial has a one year low of $13.49 and a one year high of $20.26. The firm has a fifty day moving average of $17.70 and a two-hundred day moving average of $16.14.

Old Point Financial (NASDAQ:OPOF) last announced its quarterly earnings data on Thursday, July 25th. The bank reported $0.50 EPS for the quarter. The company had revenue of $15.59 million during the quarter. Old Point Financial had a net margin of 8.41% and a return on equity of 6.69%.

Old Point Financial Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Wednesday, September 4th. This represents a $0.56 dividend on an annualized basis and a yield of 3.13%. Old Point Financial’s payout ratio is currently 44.44%.

Insiders Place Their Bets

In related news, major shareholder Pl Capital Advisors, Llc purchased 83,169 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was acquired at an average price of $14.80 per share, for a total transaction of $1,230,901.20. Following the acquisition, the insider now directly owns 720,861 shares of the company’s stock, valued at approximately $10,668,742.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last quarter, insiders bought 84,639 shares of company stock worth $1,258,154. 21.11% of the stock is owned by insiders.

Hedge Funds Weigh In On Old Point Financial

A hedge fund recently raised its stake in Old Point Financial stock. Empowered Funds LLC increased its stake in Old Point Financial Co. (NASDAQ:OPOF) by 8.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,244 shares of the bank’s stock after purchasing an additional 1,225 shares during the quarter. Empowered Funds LLC owned 0.32% of Old Point Financial worth $277,000 at the end of the most recent quarter. 33.43% of the stock is currently owned by institutional investors and hedge funds.

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.