Old Point Financial Co. (NASDAQ:OPOF) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC raised its holdings in Old Point Financial Co. (NASDAQ:OPOF) by 1.6% during the third quarter, HoldingsChannel reports. The firm owned 45,205 shares of the bank’s stock after buying an additional 693 shares during the period. Geode Capital Management LLC’s holdings in Old Point Financial were worth $874,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Fourthstone LLC increased its stake in Old Point Financial by 44.9% in 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 period. Empowered Funds LLC increased its stake in shares of 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 acquiring an additional 938 shares during the period. Finally, Eastern Bank acquired a new position in shares of Old Point Financial during the third quarter worth about $57,000. 33.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on shares of Old Point Financial in a research note on Monday, January 6th. They set a “hold” rating on the stock.

Old Point Financial Trading Down 1.6 %

Shares of Old Point Financial stock opened at $25.30 on Friday. Old Point Financial Co. has a 52-week low of $13.49 and a 52-week high of $28.00. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.35. The company’s 50-day simple moving average is $23.04 and its 200-day simple moving average is $19.68. The firm has a market cap of $128.47 million, a price-to-earnings ratio of 15.81 and a beta of 0.26.

Old Point Financial (NASDAQ:OPOF) last issued its quarterly earnings results on Thursday, October 24th. The bank reported $0.47 earnings per share (EPS) 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%.

Old Point Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Wednesday, December 4th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend was Wednesday, December 4th. Old Point Financial’s dividend payout ratio is currently 35.00%.

Old Point Financial 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.