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

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

Old Point Financial Stock Performance

Shares of NASDAQ OPOF opened at $19.88 on Friday. Old Point Financial has a 52-week low of $13.49 and a 52-week high of $21.00. The stock has a market capitalization of $100.91 million, a price-to-earnings ratio of 12.44 and a beta of 0.29. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.36. The stock’s fifty day simple moving average is $18.81 and its 200 day simple moving average is $16.84.

Old Point Financial (NASDAQ:OPOF) last issued its quarterly earnings results on Thursday, October 24th. The bank reported $0.47 earnings per share for the quarter. Old Point Financial had a return on equity of 7.50% 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 declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Wednesday, September 4th were given a $0.14 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $0.56 annualized dividend and a dividend yield of 2.82%. Old Point Financial’s dividend payout ratio (DPR) is presently 35.00%.

Hedge Funds Weigh In On Old Point Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in OPOF. Eastern Bank acquired a new stake in shares of Old Point Financial in the third quarter worth $57,000. Empowered Funds LLC raised its position in Old Point Financial by 8.2% during the first quarter. Empowered Funds LLC now owns 16,244 shares of the bank’s stock valued at $277,000 after buying an additional 1,225 shares during the period. Finally, PL Capital Advisors LLC lifted its stake in Old Point Financial by 19.2% in the 2nd quarter. PL Capital Advisors LLC now owns 720,861 shares of the bank’s stock worth $10,575,000 after acquiring an additional 116,015 shares in the last quarter. 33.43% of the stock is currently owned by hedge funds and other institutional investors.

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.