Old Point Financial (NASDAQ:OPOF) Earns Hold Rating from Analysts at StockNews.com

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

Old Point Financial Trading Up 0.7 %

Shares of OPOF stock opened at $24.64 on Friday. The firm’s 50-day simple moving average is $20.86 and its 200-day simple moving average is $18.32. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.92 and a quick ratio of 0.92. Old Point Financial has a 1-year low of $13.49 and a 1-year high of $25.00. The firm has a market cap of $125.17 million, a P/E ratio of 15.40 and a beta of 0.29.

Old Point Financial (NASDAQ:OPOF) last issued its quarterly earnings results on Thursday, October 24th. The bank reported $0.47 EPS for the quarter. The firm had revenue of $15.78 million during 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 added to or reduced their stakes in the company. Geode Capital Management LLC increased its position 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 purchasing an additional 693 shares in the last quarter. Empowered Funds LLC grew its stake 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 during the period. Eastern Bank purchased a new stake in Old Point Financial during the third quarter worth approximately $57,000. Finally, Fourthstone LLC increased its position in shares of 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 acquiring an additional 25,273 shares in the last quarter. 33.43% of the stock is currently owned by institutional investors and hedge funds.

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.