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

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

Old Point Financial Stock Performance

OPOF opened at $20.42 on Tuesday. 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 has a 12-month low of $13.49 and a 12-month high of $21.89. The business has a 50 day moving average of $19.26 and a 200-day moving average of $17.33. The stock has a market cap of $103.73 million, a price-to-earnings ratio of 12.76 and a beta of 0.29.

Old Point Financial (NASDAQ:OPOF) last announced its quarterly earnings results 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 business had revenue of $15.78 million during the quarter.

Hedge Funds Weigh In On Old Point Financial

Institutional investors and hedge funds have recently made changes to their positions in the company. Eastern Bank bought a new position in shares of Old Point Financial during the third quarter worth approximately $57,000. Empowered Funds LLC grew its position 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 buying an additional 938 shares in the last quarter. Geode Capital Management LLC increased its stake in Old Point Financial by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 45,205 shares of the bank’s stock worth $874,000 after acquiring an additional 693 shares during the period. Fourthstone LLC raised its holdings in Old Point Financial by 44.9% in 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. Finally, PL Capital Advisors LLC lifted its position in shares of Old Point Financial by 19.2% during the 2nd quarter. PL Capital Advisors LLC now owns 720,861 shares of the bank’s stock valued at $10,575,000 after acquiring an additional 116,015 shares during the period. 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.