Old Point Financial (NASDAQ:OPOF) Issues Earnings Results

Old Point Financial (NASDAQ:OPOF) issued its earnings results on Thursday. The bank reported $0.47 EPS for the quarter, reports. The business had revenue of $15.78 million for the quarter. Old Point Financial had a net margin of 8.41% and a return on equity of 6.69%.

Old Point Financial Price Performance

Shares of OPOF opened at $20.33 on Friday. The company has a 50 day moving average price of $18.66 and a 200-day moving average price of $16.59. Old Point Financial has a fifty-two week low of $13.49 and a fifty-two week high of $20.33. The stock has a market capitalization of $103.28 million, a PE ratio of 14.52 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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Wednesday, September 4th were given a $0.14 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $0.56 annualized dividend and a dividend yield of 2.75%. Old Point Financial’s payout ratio is presently 40.00%.

Institutional Investors Weigh In On Old Point Financial

Several hedge funds have recently modified their holdings of OPOF. PL Capital Advisors LLC lifted its position in shares of 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 purchasing an additional 116,015 shares during the period. Eastern Bank acquired a new stake in Old Point Financial in the third quarter valued at approximately $57,000. Finally, Empowered Funds LLC grew its holdings in Old Point Financial by 8.2% in the first quarter. Empowered Funds LLC now owns 16,244 shares of the bank’s stock worth $277,000 after purchasing an additional 1,225 shares during the last quarter. Hedge funds and other institutional investors own 33.43% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on shares of Old Point Financial in a research note on Saturday. They issued a “hold” rating on the 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.