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

Equities researchers at StockNews.com initiated coverage on shares of Old Point Financial (NASDAQ:OPOF) in a research note issued to investors on Sunday. The firm set a “hold” rating on the bank’s stock.

Old Point Financial Price Performance

NASDAQ OPOF opened at $25.15 on Friday. The stock has a market capitalization of $127.71 million, a P/E ratio of 15.72 and a beta of 0.29. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.92 and a current ratio of 0.92. The business’s fifty day moving average is $21.98 and its two-hundred day moving average is $18.97. Old Point Financial has a 1 year low of $13.49 and a 1 year high of $25.73.

Old Point Financial (NASDAQ:OPOF) last announced its 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 company had revenue of $15.78 million for the quarter.

Institutional Investors Weigh In On Old Point Financial

A number of large investors have recently made changes to their positions in the company. Eastern Bank acquired a new position in Old Point Financial in the 3rd quarter worth approximately $57,000. Empowered Funds LLC lifted its holdings in shares of Old Point Financial by 5.4% in the third quarter. Empowered Funds LLC now owns 18,442 shares of the bank’s stock valued at $356,000 after purchasing an additional 938 shares in the last quarter. Fourthstone LLC boosted 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 buying an additional 25,273 shares during the period. Finally, Geode Capital Management LLC raised its position in Old Point Financial by 1.6% during the third quarter. Geode Capital Management LLC now owns 45,205 shares of the bank’s stock valued at $874,000 after buying an additional 693 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.