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

StockNews.com initiated coverage on shares of Old Point Financial (NASDAQ:OPOF) in a research report report published on Wednesday. The brokerage issued a hold rating on the bank’s stock.

Old Point Financial Stock Performance

Shares of NASDAQ OPOF opened at $22.20 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.35. The firm’s 50-day moving average price is $19.59 and its two-hundred day moving average price is $17.56. Old Point Financial has a 52-week low of $13.49 and a 52-week high of $22.52. The stock has a market capitalization of $112.78 million, a P/E ratio of 13.78 and a beta of 0.29.

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

Old Point Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Wednesday, December 4th will be issued a dividend of $0.14 per share. The ex-dividend date is Wednesday, December 4th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.52%. Old Point Financial’s dividend payout ratio (DPR) is presently 35.00%.

Institutional Investors Weigh In On Old Point Financial

A number of hedge funds have recently made changes to their positions in OPOF. PL Capital Advisors LLC raised its holdings in shares of Old Point Financial by 19.2% during the second 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. Fourthstone LLC raised its holdings in shares of Old Point Financial by 44.9% during the third 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. Eastern Bank bought a new stake in shares of Old Point Financial during the third quarter valued at approximately $57,000. Empowered Funds LLC raised its holdings in shares of Old Point Financial by 5.4% during the third 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. Finally, Geode Capital Management LLC raised its holdings in shares of Old Point Financial by 1.6% during the third 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. Institutional investors 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.