StockNews.com Initiates Coverage on Old Point Financial (NASDAQ:OPOF)

StockNews.com began coverage on shares of Old Point Financial (NASDAQ:OPOF) in a report released on Saturday. The brokerage set a “hold” rating on the bank’s stock.

Old Point Financial Stock Up 0.1 %

Shares of NASDAQ:OPOF opened at $24.88 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.35. Old Point Financial has a twelve month low of $13.49 and a twelve month high of $25.50. The company has a market capitalization of $126.34 million, a PE ratio of 15.55 and a beta of 0.29. The firm has a 50 day simple moving average of $21.40 and a 200-day simple moving average of $18.65.

Old Point Financial (NASDAQ:OPOF) last issued its earnings results on Thursday, October 24th. The bank reported $0.47 earnings per share for the quarter. The business had revenue of $15.78 million 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 have recently bought and sold shares of the business. Eastern Bank bought a new position in Old Point Financial during the 3rd quarter worth approximately $57,000. Empowered Funds LLC raised its stake in shares of Old Point Financial by 5.4% in the 3rd 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 raised its position in 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 acquiring an additional 693 shares in the last quarter. Finally, Fourthstone LLC lifted its stake in Old Point Financial by 44.9% during the third quarter. Fourthstone LLC now owns 81,594 shares of the bank’s stock valued at $1,576,000 after purchasing an additional 25,273 shares during the last quarter. 33.43% of the stock is currently owned by hedge funds and other institutional investors.

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.