Old Point Financial (NASDAQ:OPOF) Receives New Coverage from Analysts at StockNews.com

Equities researchers at StockNews.com began coverage on shares of Old Point Financial (NASDAQ:OPOF) in a report issued on Friday. The brokerage set a “hold” rating on the bank’s stock.

Old Point Financial Trading Up 1.4 %

OPOF stock opened at $14.35 on Friday. Old Point Financial has a 1-year low of $13.49 and a 1-year high of $22.33. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65. The business’s 50 day moving average is $14.53 and its 200-day moving average is $16.19. The firm has a market cap of $72.90 million, a P/E ratio of 11.39 and a beta of 0.29.

Old Point Financial (NASDAQ:OPOF) last announced its quarterly earnings results on Tuesday, April 30th. The bank reported $0.34 earnings per share for the quarter. Old Point Financial had a return on equity of 6.11% and a net margin of 7.71%. The firm had revenue of $14.76 million for the quarter.

Insiders Place Their Bets

In other news, major shareholder Pl Capital Advisors, Llc bought 1,799 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was bought at an average price of $14.92 per share, for a total transaction of $26,841.08. Following the completion of the purchase, the insider now owns 627,020 shares of the company’s stock, valued at approximately $9,355,138.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders have bought 111,555 shares of company stock valued at $1,642,355. 21.11% of the stock is currently owned by insiders.

Institutional Trading of Old Point Financial

An institutional investor recently raised its position in Old Point Financial stock. Empowered Funds LLC grew its position in Old Point Financial Co. (NASDAQ:OPOF) by 8.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 16,244 shares of the bank’s stock after buying an additional 1,225 shares during the period. Empowered Funds LLC owned 0.32% of Old Point Financial worth $277,000 at the end of the most recent reporting period. 33.43% of the stock is currently owned by institutional investors and hedge funds.

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.