Old Point Financial (NASDAQ:OPOF) Shares Cross Above Two Hundred Day Moving Average – Should You Sell?

Old Point Financial Co. (NASDAQ:OPOF) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $20.34 and traded as high as $25.14. Old Point Financial shares last traded at $25.04, with a volume of 2,914 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on Old Point Financial in a research note on Wednesday. They set a “hold” rating for the company.

Old Point Financial Stock Performance

The stock has a 50-day moving average price of $23.83 and a 200 day moving average price of $20.34. The firm has a market capitalization of $127.22 million, a price-to-earnings ratio of 15.65 and a beta of 0.26. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.35.

Old Point Financial (NASDAQ:OPOF) last posted its quarterly earnings results on Thursday, October 24th. The bank reported $0.47 EPS for the quarter. Old Point Financial had a net margin of 9.47% and a return on equity of 7.38%. The company had revenue of $15.78 million during the quarter.

Old Point Financial Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend was Wednesday, December 4th. Old Point Financial’s dividend payout ratio is presently 35.00%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Eastern Bank acquired a new stake in shares of Old Point Financial during the 3rd quarter worth about $57,000. Empowered Funds LLC raised its holdings in 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 purchasing an additional 938 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Old Point Financial by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 45,205 shares of the bank’s stock worth $874,000 after buying an additional 693 shares during the last quarter. Finally, Fourthstone LLC boosted its holdings 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 valued at $1,576,000 after buying an additional 25,273 shares in the last quarter. 33.43% of the stock is owned by institutional investors and hedge funds.

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.