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

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

Old Point Financial Price Performance

Shares of NASDAQ OPOF opened at $20.30 on Tuesday. Old Point Financial has a twelve month low of $13.49 and a twelve month high of $21.89. The firm has a market cap of $103.12 million, a P/E ratio of 12.69 and a beta of 0.29. The company has a 50 day moving average of $19.21 and a 200 day moving average of $17.31. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.35.

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

Institutional Investors Weigh In On Old Point Financial

A number of hedge funds have recently added to or reduced their stakes in OPOF. PL Capital Advisors LLC raised its stake in Old Point Financial by 19.2% during the 2nd quarter. PL Capital Advisors LLC now owns 720,861 shares of the bank’s stock valued at $10,575,000 after buying an additional 116,015 shares during the last quarter. Eastern Bank purchased a new stake in Old Point Financial during the 3rd quarter valued at $57,000. Empowered Funds LLC raised its stake in Old Point Financial by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 18,442 shares of the bank’s stock valued at $356,000 after buying an additional 938 shares during the last quarter. Fourthstone LLC raised its stake in Old Point Financial by 44.9% during the 3rd quarter. Fourthstone LLC now owns 81,594 shares of the bank’s stock valued at $1,576,000 after buying an additional 25,273 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Old Point Financial by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 45,205 shares of the bank’s stock valued at $874,000 after buying an additional 693 shares during the last quarter. 33.43% of the stock is currently owned by hedge funds and other institutional investors.

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.