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

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

Old Point Financial Stock Up 0.2 %

Shares of NASDAQ OPOF opened at $25.90 on Monday. The business has a 50-day moving average of $22.72 and a 200-day moving average of $19.52. The firm has a market capitalization of $131.52 million, a price-to-earnings ratio of 16.19 and a beta of 0.26. Old Point Financial has a 12 month low of $13.49 and a 12 month high of $28.00. 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 (NASDAQ:OPOF) last issued its earnings results on Thursday, October 24th. The bank reported $0.47 EPS for the quarter. The company 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%.

Old Point Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Wednesday, December 4th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend was Wednesday, December 4th. Old Point Financial’s payout ratio is 35.00%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC raised its stake 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 last quarter. Fourthstone LLC lifted its stake in shares of Old Point Financial by 44.9% in the 3rd quarter. Fourthstone LLC now owns 81,594 shares of the bank’s stock worth $1,576,000 after purchasing an additional 25,273 shares during the period. Empowered Funds LLC boosted its stake in shares of Old Point Financial by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 18,442 shares of the bank’s stock worth $356,000 after acquiring an additional 938 shares during the last quarter. Finally, Eastern Bank purchased a new position in Old Point Financial during the third quarter valued at $57,000. Hedge funds and other 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.