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 published on Saturday morning. The firm issued a hold rating on the bank’s stock.

Old Point Financial Stock Performance

Shares of NASDAQ OPOF opened at $24.65 on Friday. Old Point Financial has a 52-week low of $13.49 and a 52-week high of $25.50. The stock has a market capitalization of $125.17 million, a price-to-earnings ratio of 15.41 and a beta of 0.29. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.35. The stock’s fifty day simple moving average is $21.51 and its 200 day simple moving average is $18.74.

Old Point Financial (NASDAQ:OPOF) last posted its quarterly earnings data on Thursday, October 24th. The bank reported $0.47 earnings per share (EPS) for the quarter. Old Point Financial had a return on equity of 7.38% and a net margin of 9.47%. The firm had revenue of $15.78 million for the quarter.

Old Point Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Wednesday, December 4th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.27%. The ex-dividend date is Wednesday, December 4th. Old Point Financial’s payout ratio is 35.00%.

Institutional Trading of Old Point Financial

Hedge funds have recently modified their holdings of the business. Empowered Funds LLC grew its holdings in shares of Old Point Financial by 5.4% during the third quarter. Empowered Funds LLC now owns 18,442 shares of the bank’s stock valued at $356,000 after buying an additional 938 shares in the last quarter. Fourthstone LLC grew its stake in Old Point Financial by 44.9% during the 3rd quarter. Fourthstone LLC now owns 81,594 shares of the bank’s stock valued at $1,576,000 after acquiring an additional 25,273 shares in the last quarter. Eastern Bank purchased a new position in Old Point Financial during the 3rd quarter valued at about $57,000. Finally, Geode Capital Management LLC lifted its position in shares of Old Point Financial by 1.6% in the third quarter. Geode Capital Management LLC now owns 45,205 shares of the bank’s stock worth $874,000 after purchasing an additional 693 shares in the last quarter. 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.