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

Investment analysts at StockNews.com started coverage on shares of Old Point Financial (NASDAQ:OPOF) in a research report issued on Friday. The firm set a “hold” rating on the bank’s stock.

Old Point Financial Price Performance

Old Point Financial stock opened at $25.24 on Friday. The firm has a market cap of $128.17 million, a PE ratio of 13.43 and a beta of 0.26. The stock’s fifty day moving average price is $24.65 and its two-hundred day moving average price is $21.02. Old Point Financial has a one year low of $13.49 and a one year high of $28.00. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.92 and a quick ratio of 0.92.

Old Point Financial (NASDAQ:OPOF) last posted its quarterly earnings results on Thursday, January 30th. The bank reported $0.57 earnings per share (EPS) for the quarter. Old Point Financial had a net margin of 11.08% and a return on equity of 8.56%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Eastern Bank acquired a new stake in shares of Old Point Financial in the 3rd quarter valued at approximately $57,000. Empowered Funds LLC boosted its position in 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 buying an additional 938 shares in the last quarter. Geode Capital Management LLC boosted its position in Old Point Financial by 1.6% in 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 in the last quarter. Fourthstone LLC grew its stake in shares of Old Point Financial by 44.9% during 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 last quarter. Finally, PL Capital Advisors LLC increased its holdings in shares of Old Point Financial by 2,506.0% during the fourth quarter. PL Capital Advisors LLC now owns 18,785,638 shares of the bank’s stock worth $489,554,000 after buying an additional 18,064,777 shares in the last quarter. 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.