Old Point Financial (NASDAQ:OPOF) Coverage Initiated at StockNews.com

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

Old Point Financial Stock Up 1.0 %

Shares of NASDAQ:OPOF opened at $30.09 on Friday. The firm’s 50 day moving average price is $25.76 and its 200 day moving average price is $21.89. The stock has a market cap of $152.80 million, a price-to-earnings ratio of 16.01 and a beta of 0.26. Old Point Financial has a fifty-two week low of $13.49 and a fifty-two week high of $30.10. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.35.

Old Point Financial (NASDAQ:OPOF) last issued its earnings results on Thursday, January 30th. The bank reported $0.57 earnings per share for the quarter. Old Point Financial had a net margin of 11.08% and a return on equity of 8.56%.

Institutional Trading of Old Point Financial

Hedge funds have recently added to or reduced their stakes in the company. WealthTrak Capital Management LLC acquired a new stake in Old Point Financial during the fourth quarter worth approximately $47,000. Northern Trust Corp raised its holdings in Old Point Financial by 35.0% during the fourth quarter. Northern Trust Corp now owns 17,440 shares of the bank’s stock worth $454,000 after purchasing an additional 4,521 shares in the last quarter. Empowered Funds LLC raised its holdings in Old Point Financial by 5.4% during the third quarter. Empowered Funds LLC now owns 18,442 shares of the bank’s stock worth $356,000 after purchasing an additional 938 shares in the last quarter. Bridgeway Capital Management LLC raised its holdings in Old Point Financial by 1.9% during the fourth quarter. Bridgeway Capital Management LLC now owns 18,951 shares of the bank’s stock worth $494,000 after purchasing an additional 350 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Old Point Financial by 6.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 20,416 shares of the bank’s stock worth $532,000 after purchasing an additional 1,246 shares in the last quarter. Institutional investors and hedge funds 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.