WealthTrak Capital Management LLC Takes $47,000 Position in Old Point Financial Co. (NASDAQ:OPOF)

WealthTrak Capital Management LLC purchased a new position in Old Point Financial Co. (NASDAQ:OPOF) in the 4th quarter, HoldingsChannel reports. The fund purchased 1,800 shares of the bank’s stock, valued at approximately $47,000.

Other hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings 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 acquiring an additional 693 shares during the last quarter. OLD Point Trust & Financial Services N A increased its holdings in shares of Old Point Financial by 1.1% in the 4th quarter. OLD Point Trust & Financial Services N A now owns 263,439 shares of the bank’s stock worth $6,865,000 after purchasing an additional 2,901 shares in the last quarter. Finally, PL Capital Advisors LLC raised its stake in shares of Old Point Financial by 2,506.0% in the fourth quarter. PL Capital Advisors LLC now owns 18,785,638 shares of the bank’s stock worth $489,554,000 after purchasing an additional 18,064,777 shares during the last quarter. Institutional investors own 33.43% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Old Point Financial from a “hold” rating to a “buy” rating in a report on Thursday.

Old Point Financial Trading Down 0.3 %

Old Point Financial stock opened at $29.94 on Friday. Old Point Financial Co. has a 52-week low of $13.49 and a 52-week high of $30.95. The company has a market cap of $152.04 million, a P/E ratio of 15.93 and a beta of 0.17. 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 business has a 50-day simple moving average of $28.12 and a two-hundred day simple moving average of $23.77.

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

Old Point Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Wednesday, March 5th were given a $0.14 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.56 annualized dividend and a dividend yield of 1.87%. Old Point Financial’s payout ratio is 29.79%.

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.