Old Point Financial (NASDAQ:OPOF) Now Covered by Analysts at StockNews.com

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

Old Point Financial Stock Down 2.5 %

Old Point Financial stock opened at $24.50 on Wednesday. Old Point Financial has a 12 month low of $13.49 and a 12 month high of $28.00. The stock has a market capitalization of $124.46 million, a PE ratio of 15.31 and a beta of 0.26. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.92 and a quick ratio of 0.92. The business has a 50 day simple moving average of $23.90 and a 200-day simple moving average of $20.37.

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

Old Point Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Wednesday, December 4th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $0.56 annualized dividend and a dividend yield of 2.29%. Old Point Financial’s dividend payout ratio (DPR) is presently 35.00%.

Institutional Investors Weigh In On Old Point Financial

Several institutional investors have recently bought and sold shares of the company. Eastern Bank purchased a new position in shares of Old Point Financial in the third quarter valued at approximately $57,000. Empowered Funds LLC lifted its holdings in Old Point Financial by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 18,442 shares of the bank’s stock valued at $356,000 after purchasing an additional 938 shares in the last quarter. Fourthstone LLC boosted 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 worth $1,576,000 after purchasing an additional 25,273 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Old Point Financial by 1.6% during the third quarter. Geode Capital Management LLC now owns 45,205 shares of the bank’s stock worth $874,000 after buying an additional 693 shares in the last 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.