Old Point Financial (NASDAQ:OPOF) Coverage Initiated at StockNews.com

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

Old Point Financial Stock Performance

NASDAQ OPOF opened at $24.64 on Friday. The business has a 50 day moving average price of $20.86 and a 200 day moving average price of $18.32. The company has a market capitalization of $125.17 million, a P/E ratio of 15.40 and a beta of 0.29. Old Point Financial has a 1-year low of $13.49 and a 1-year high of $25.00. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.92 and a quick ratio of 0.92.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of OPOF. Empowered Funds LLC grew its holdings 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 lifted its position in shares of Old Point Financial by 44.9% in the third quarter. Fourthstone LLC now owns 81,594 shares of the bank’s stock valued at $1,576,000 after acquiring an additional 25,273 shares in the last quarter. Eastern Bank acquired a new stake in shares of Old Point Financial during the third quarter valued at $57,000. Finally, Geode Capital Management LLC increased its position 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 worth $874,000 after purchasing an additional 693 shares in the last quarter. 33.43% of the stock is 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.