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

Research analysts at StockNews.com assumed coverage on shares of Old Point Financial (NASDAQ:OPOF) in a research note issued on Sunday. The firm set a “hold” rating on the bank’s stock.

Old Point Financial Stock Down 1.0 %

NASDAQ:OPOF opened at $17.82 on Friday. 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 company’s fifty day moving average price is $17.63 and its 200-day moving average price is $16.13. Old Point Financial has a 1-year low of $13.49 and a 1-year high of $20.26. The firm has a market capitalization of $90.53 million, a P/E ratio of 14.14 and a beta of 0.29.

Old Point Financial (NASDAQ:OPOF) last announced its quarterly earnings results on Thursday, July 25th. The bank reported $0.50 earnings per share for the quarter. The company 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%.

Insider Buying and Selling

In other Old Point Financial news, major shareholder Pl Capital Advisors, Llc bought 83,169 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were purchased at an average cost of $14.80 per share, for a total transaction of $1,230,901.20. Following the transaction, the insider now directly owns 720,861 shares of the company’s stock, valued at $10,668,742.80. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last three months, insiders have bought 84,639 shares of company stock valued at $1,258,154. Corporate insiders own 21.11% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Old Point Financial stock. Empowered Funds LLC boosted its stake in shares of Old Point Financial Co. (NASDAQ:OPOF) by 8.2% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 16,244 shares of the bank’s stock after acquiring an additional 1,225 shares during the period. Empowered Funds LLC owned about 0.32% of Old Point Financial worth $277,000 at the end of the most recent quarter. Institutional investors own 33.43% of the company’s stock.

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.