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

StockNews.com began coverage on shares of Old Point Financial (NASDAQ:OPOF) in a research report issued to clients and investors on Thursday. The firm set a “hold” rating on the bank’s stock.

Old Point Financial Trading Down 0.0 %

NASDAQ:OPOF opened at $24.40 on Thursday. The firm has a market capitalization of $123.95 million, a P/E ratio of 15.25 and a beta of 0.26. 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 company has a fifty day moving average of $24.42 and a 200 day moving average of $20.79. Old Point Financial has a 52 week low of $13.49 and a 52 week high of $28.00.

Old Point Financial (NASDAQ:OPOF) last posted 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 9.47% and a return on equity of 7.38%.

Institutional Investors Weigh In On Old Point Financial

Several institutional investors and hedge funds have recently modified their holdings of the stock. Fourthstone LLC grew its holdings in Old Point Financial by 44.9% in the third 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 period. Eastern Bank purchased a new position in Old Point Financial in the third quarter worth about $57,000. Empowered Funds LLC raised its holdings in Old Point Financial by 5.4% in the third quarter. Empowered Funds LLC now owns 18,442 shares of the bank’s stock worth $356,000 after buying an additional 938 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake 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 buying an additional 693 shares in the last quarter. 33.43% of the stock is 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.