Old Point Financial (NASDAQ:OPOF) Earns Hold Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Old Point Financial (NASDAQ:OPOF) in a research note released on Tuesday. The brokerage issued a hold rating on the bank’s stock.

Old Point Financial Stock Up 1.8 %

Shares of Old Point Financial stock opened at $20.78 on Tuesday. The company has a fifty day moving average price of $19.33 and a 200 day moving average price of $17.35. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.35. Old Point Financial has a twelve month low of $13.49 and a twelve month high of $21.89. The stock has a market cap of $105.52 million, a price-to-earnings ratio of 12.99 and a beta of 0.29.

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

Old Point Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Wednesday, December 4th will be given a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $0.56 dividend on an annualized basis and a yield of 2.69%. Old Point Financial’s payout ratio is currently 35.00%.

Institutional Investors Weigh In On Old Point Financial

A number of institutional investors have recently modified their holdings of OPOF. PL Capital Advisors LLC raised its stake 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 valued at $10,575,000 after purchasing an additional 116,015 shares in the last quarter. Eastern Bank acquired a new stake in Old Point Financial during the third quarter worth about $57,000. Empowered Funds LLC raised its stake in Old Point Financial by 5.4% during the third quarter. Empowered Funds LLC now owns 18,442 shares of the bank’s stock worth $356,000 after acquiring an additional 938 shares during the period. Fourthstone LLC raised its stake in Old Point Financial by 44.9% during the third quarter. Fourthstone LLC now owns 81,594 shares of the bank’s stock worth $1,576,000 after acquiring an additional 25,273 shares during the period. Finally, Geode Capital Management LLC raised its stake in Old Point Financial by 1.6% during the third quarter. Geode Capital Management LLC now owns 45,205 shares of the bank’s stock worth $874,000 after acquiring an additional 693 shares during the period. Institutional investors and hedge funds 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.