Old Point Financial (NASDAQ:OPOF) Receives New Coverage from Analysts at StockNews.com

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

Old Point Financial Trading Up 4.3 %

OPOF opened at $18.25 on Tuesday. The firm has a market cap of $92.64 million, a price-to-earnings ratio of 14.48 and a beta of 0.29. Old Point Financial has a 52 week low of $13.49 and a 52 week high of $20.26. The business’s 50 day moving average is $18.17 and its two-hundred day moving average is $16.18. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.36.

Old Point Financial (NASDAQ:OPOF) last released its quarterly earnings results on Thursday, July 25th. The bank reported $0.50 EPS for the quarter. Old Point Financial had a return on equity of 6.69% and a net margin of 8.41%. The company had revenue of $15.59 million for the quarter.

Old Point Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Wednesday, September 4th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $0.56 annualized dividend and a dividend yield of 3.07%. Old Point Financial’s dividend payout ratio (DPR) is currently 44.44%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Old Point Financial stock. PL Capital Advisors LLC lifted its holdings in Old Point Financial Co. (NASDAQ:OPOF) by 19.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 720,861 shares of the bank’s stock after buying an additional 116,015 shares during the quarter. Old Point Financial accounts for 4.4% of PL Capital Advisors LLC’s portfolio, making the stock its 7th biggest holding. PL Capital Advisors LLC owned 14.19% of Old Point Financial worth $10,575,000 as of its most recent SEC filing. Institutional investors own 33.43% of the company’s stock.

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.