StockNews.com Begins Coverage on Old Point Financial (NASDAQ:OPOF)

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

Old Point Financial Trading Down 0.4 %

NASDAQ:OPOF opened at $20.32 on Friday. Old Point Financial has a 52 week low of $13.49 and a 52 week high of $21.00. The firm has a 50-day moving average price of $18.75 and a two-hundred day moving average price of $16.68. The firm has a market cap of $103.25 million, a price-to-earnings ratio of 12.70 and a beta of 0.29. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.91 and a current ratio of 0.91.

Old Point Financial (NASDAQ:OPOF) last issued its quarterly earnings results on Thursday, October 24th. The bank reported $0.47 EPS for the quarter. Old Point Financial had a return on equity of 7.50% and a net margin of 9.47%. The company had revenue of $15.78 million during the quarter.

Old Point Financial Dividend Announcement

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. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $0.56 annualized dividend and a yield of 2.76%. Old Point Financial’s payout ratio is currently 35.00%.

Institutional Trading of Old Point Financial

Several hedge funds have recently added to or reduced their stakes in OPOF. Eastern Bank purchased a new stake in Old Point Financial in the third quarter worth $57,000. Empowered Funds LLC increased its holdings in Old Point Financial by 8.2% in the 1st quarter. Empowered Funds LLC now owns 16,244 shares of the bank’s stock worth $277,000 after acquiring an additional 1,225 shares during the last quarter. Finally, PL Capital Advisors LLC increased its holdings in Old Point Financial by 19.2% in the 2nd quarter. PL Capital Advisors LLC now owns 720,861 shares of the bank’s stock worth $10,575,000 after acquiring an additional 116,015 shares during the last quarter. Institutional investors 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.