Old Point Financial (NASDAQ:OPOF) Now Covered by StockNews.com

StockNews.com began coverage on shares of Old Point Financial (NASDAQ:OPOF) in a research note published on Wednesday morning. The brokerage issued a hold rating on the bank’s stock.

Old Point Financial Stock Performance

NASDAQ OPOF opened at $18.75 on Wednesday. The firm has a market capitalization of $95.18 million, a P/E ratio of 14.88 and a beta of 0.29. Old Point Financial has a 1-year low of $13.49 and a 1-year high of $20.26. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.91 and a quick ratio of 0.91. The business’s 50-day simple moving average is $18.43 and its 200-day simple moving average is $16.31.

Old Point Financial (NASDAQ:OPOF) last released its quarterly earnings results on Thursday, July 25th. The bank reported $0.50 EPS for the quarter. The firm 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 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Wednesday, September 4th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend was Wednesday, September 4th. Old Point Financial’s dividend payout ratio (DPR) is presently 44.44%.

Institutional Investors Weigh In On Old Point Financial

An institutional investor recently raised its position in Old Point Financial stock. Empowered Funds LLC boosted its holdings in shares of Old Point Financial Co. (NASDAQ:OPOF) by 8.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,244 shares of the bank’s stock after purchasing an additional 1,225 shares during the quarter. Empowered Funds LLC owned approximately 0.32% of Old Point Financial worth $277,000 at the end of the most recent quarter. 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.