Old Point Financial (NASDAQ:OPOF) Coverage Initiated by Analysts at StockNews.com

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

Old Point Financial Trading Down 0.1 %

Shares of Old Point Financial stock opened at $19.86 on Friday. Old Point Financial has a 12-month low of $13.49 and a 12-month high of $21.00. The stock has a market cap of $100.89 million, a P/E ratio of 12.41 and a beta of 0.29. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.36. The business’s 50 day moving average is $18.85 and its 200-day moving average is $16.89.

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

Old Point Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Wednesday, September 4th were given a $0.14 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $0.56 annualized dividend and a yield of 2.82%. Old Point Financial’s dividend payout ratio is presently 35.00%.

Hedge Funds Weigh In On Old Point Financial

A number of hedge funds have recently made changes to their positions in OPOF. Eastern Bank acquired a new stake in Old Point Financial during the third quarter worth approximately $57,000. Empowered Funds LLC grew its stake in Old Point Financial by 8.2% in the first quarter. Empowered Funds LLC now owns 16,244 shares of the bank’s stock valued at $277,000 after acquiring an additional 1,225 shares during the period. Finally, PL Capital Advisors LLC grew its stake in Old Point Financial by 19.2% in the second quarter. PL Capital Advisors LLC now owns 720,861 shares of the bank’s stock valued at $10,575,000 after acquiring an additional 116,015 shares during the period. 33.43% of the stock is currently owned by institutional investors.

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.