Old Point Financial (NASDAQ:OPOF) Now Covered by StockNews.com

Analysts at StockNews.com started coverage on shares of Old Point Financial (NASDAQ:OPOFGet Free Report) in a research note issued to investors on Thursday. The brokerage set a “hold” rating on the bank’s stock.

Old Point Financial Stock Performance

Shares of OPOF stock opened at $24.40 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market capitalization of $123.95 million, a price-to-earnings ratio of 15.25 and a beta of 0.26. Old Point Financial has a one year low of $13.49 and a one year high of $28.00. The company has a 50 day moving average price of $24.29 and a 200 day moving average price of $20.71.

Institutional Investors Weigh In On Old Point Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fourthstone LLC lifted its stake in shares of Old Point Financial by 44.9% in the 3rd quarter. Fourthstone LLC now owns 81,594 shares of the bank’s stock valued at $1,576,000 after purchasing an additional 25,273 shares in the last quarter. Eastern Bank purchased a new position in Old Point Financial in the third quarter valued at approximately $57,000. Empowered Funds LLC lifted its position in 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 in the last quarter. Finally, Geode Capital Management LLC grew its stake in Old Point Financial by 1.6% during the third quarter. Geode Capital Management LLC now owns 45,205 shares of the bank’s stock worth $874,000 after buying an additional 693 shares during the period. 33.43% of the stock is currently owned by institutional investors and hedge funds.

Old Point Financial Company Profile

(Get Free Report)

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.

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