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

StockNews.com started coverage on shares of Old Point Financial (NASDAQ:OPOF) in a report issued on Saturday morning. The firm issued a hold rating on the bank’s stock.

Old Point Financial Trading Up 2.7 %

Shares of OPOF stock opened at $19.25 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $97.71 million, a price-to-earnings ratio of 15.28 and a beta of 0.28. Old Point Financial has a 12-month low of $13.49 and a 12-month high of $20.26. The stock’s 50-day moving average price is $17.25 and its 200-day moving average price is $16.08.

Old Point Financial (NASDAQ:OPOF) last released its quarterly earnings data on Thursday, July 25th. The bank reported $0.50 earnings per share (EPS) for the quarter. The business had revenue of $15.59 million for the quarter. Old Point Financial had a return on equity of 6.69% and a net margin of 8.41%.

Old Point Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Wednesday, September 4th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.91%. Old Point Financial’s payout ratio is currently 44.44%.

Insider Activity at Old Point Financial

In related news, major shareholder Pl Capital Advisors, Llc bought 3,803 shares of the company’s stock in a transaction dated Thursday, June 6th. The stock was purchased at an average price of $14.78 per share, for a total transaction of $56,208.34. Following the acquisition, the insider now owns 637,692 shares in the company, valued at $9,425,087.76. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In the last quarter, insiders acquired 88,442 shares of company stock valued at $1,314,362. Insiders own 21.11% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Old Point Financial stock. Empowered Funds LLC grew its holdings in Old Point Financial Co. (NASDAQ:OPOF) by 8.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,244 shares of the bank’s stock after purchasing an additional 1,225 shares during the period. Empowered Funds LLC owned about 0.32% of Old Point Financial worth $277,000 as of its most recent filing with the Securities & Exchange Commission. 33.43% of the stock is currently owned by institutional investors.

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.