Fourthstone LLC Grows Holdings in Old Point Financial Co. (NASDAQ:OPOF)

Fourthstone LLC increased its stake in shares of Old Point Financial Co. (NASDAQ:OPOF) by 44.9% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 81,594 shares of the bank’s stock after purchasing an additional 25,273 shares during the period. Fourthstone LLC owned approximately 1.61% of Old Point Financial worth $1,576,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Empowered Funds LLC boosted its stake in shares of 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 purchasing an additional 938 shares during the period. Eastern Bank purchased a new position in Old Point Financial in the 3rd quarter valued at approximately $57,000. Finally, PL Capital Advisors LLC grew its stake in shares of Old Point Financial by 19.2% in the second 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 in the last quarter. Institutional investors and hedge funds own 33.43% of the company’s stock.

Old Point Financial Stock Up 0.7 %

Shares of OPOF traded up $0.16 during midday trading on Thursday, hitting $22.20. The company had a trading volume of 3,030 shares, compared to its average volume of 6,365. Old Point Financial Co. has a 1 year low of $13.49 and a 1 year high of $22.52. The firm has a market capitalization of $112.78 million, a P/E ratio of 13.78 and a beta of 0.29. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.92 and a current ratio of 0.92. The company’s 50-day simple moving average is $19.59 and its 200-day simple moving average is $17.56.

Old Point Financial (NASDAQ:OPOF) last posted its earnings results on Thursday, October 24th. The bank reported $0.47 EPS for the quarter. The firm had revenue of $15.78 million for the quarter. Old Point Financial had a return on equity of 7.38% and a net margin of 9.47%.

Old Point Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Wednesday, December 4th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend is Wednesday, December 4th. Old Point Financial’s dividend payout ratio (DPR) is 35.00%.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on Old Point Financial in a research note on Wednesday. They issued a “hold” rating on the stock.

Old Point Financial 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.