Old Point Financial (NASDAQ:OPOF) Coverage Initiated at StockNews.com

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

Old Point Financial Stock Performance

NASDAQ OPOF opened at $24.91 on Tuesday. The firm has a 50-day moving average of $23.56 and a 200-day moving average of $20.05. 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 stock has a market cap of $126.49 million, a PE ratio of 15.57 and a beta of 0.26. Old Point Financial has a 52-week low of $13.49 and a 52-week high of $28.00.

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

Old Point Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Wednesday, December 4th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend was Wednesday, December 4th. Old Point Financial’s dividend payout ratio (DPR) is 35.00%.

Institutional Trading of Old Point Financial

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Fourthstone LLC raised its stake in 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 in the last quarter. Geode Capital Management LLC raised its stake in Old Point Financial by 1.6% in 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 raised its stake in 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 purchasing an additional 938 shares in the last quarter. Finally, Eastern Bank acquired a new stake in Old Point Financial in the 3rd quarter worth about $57,000. 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.