2,949 Shares in Old Point Financial Co. (NASDAQ:OPOF) Purchased by Eastern Bank

Eastern Bank purchased a new position in Old Point Financial Co. (NASDAQ:OPOF) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,949 shares of the bank’s stock, valued at approximately $57,000.

Separately, PL Capital Advisors LLC raised its holdings in 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. 33.43% of the stock is owned by institutional investors and hedge funds.

Old Point Financial Price Performance

NASDAQ:OPOF opened at $20.33 on Friday. Old Point Financial Co. has a 12 month low of $13.49 and a 12 month high of $20.33. The stock has a 50 day moving average of $18.66 and a two-hundred day moving average of $16.59. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.36. The firm has a market cap of $103.28 million, a P/E ratio of 14.52 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 EPS for the quarter. Old Point Financial had a return on equity of 6.69% and a net margin of 8.41%. The company had revenue of $15.78 million during the quarter.

Old Point Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Wednesday, September 4th were paid a dividend of $0.14 per share. The ex-dividend date was Wednesday, September 4th. This represents a $0.56 annualized dividend and a yield of 2.75%. Old Point Financial’s dividend payout ratio (DPR) is currently 40.00%.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on Old Point Financial in a research note on Saturday. They set a “hold” rating for the company.

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.