StockNews.com Initiates Coverage on Old Point Financial (NASDAQ:OPOF)

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

Old Point Financial Stock Up 1.4 %

Old Point Financial stock opened at $19.91 on Friday. The stock has a market capitalization of $101.14 million, a PE ratio of 12.90 and a beta of 0.29. Old Point Financial has a twelve month low of $13.49 and a twelve month high of $21.00. 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 company has a 50 day moving average of $18.81 and a 200-day moving average of $16.80.

Old Point Financial (NASDAQ:OPOF) last released its quarterly earnings results 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 7.50%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Empowered Funds LLC boosted its holdings in Old Point Financial by 8.2% during 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. PL Capital Advisors LLC boosted its holdings in Old Point Financial by 19.2% during the second 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 last quarter. Finally, Eastern Bank acquired a new position in Old Point Financial during the third quarter worth $57,000. Institutional investors and hedge funds own 33.43% of the company’s 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.