Old Point Financial (NASDAQ:OPOF) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Old Point Financial (NASDAQ:OPOF) from a hold rating to a buy rating in a report issued on Thursday morning.

Old Point Financial Trading Up 0.4 %

Shares of NASDAQ:OPOF opened at $30.02 on Thursday. Old Point Financial has a 12-month low of $13.49 and a 12-month high of $30.95. The company has a market cap of $152.44 million, a PE ratio of 15.97 and a beta of 0.17. The stock has a 50 day moving average of $28.02 and a 200 day moving average of $23.68. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.35.

Old Point Financial (NASDAQ:OPOF) last posted its quarterly earnings results on Thursday, January 30th. The bank reported $0.57 earnings per share for the quarter. Old Point Financial had a net margin of 11.08% and a return on equity of 8.56%.

Old Point Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Wednesday, March 5th will be given a $0.14 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.56 annualized dividend and a dividend yield of 1.87%. Old Point Financial’s payout ratio is 29.79%.

Institutional Trading of Old Point Financial

Institutional investors have recently made changes to their positions in the business. PL Capital Advisors LLC lifted its holdings in Old Point Financial by 2,506.0% in the 4th quarter. PL Capital Advisors LLC now owns 18,785,638 shares of the bank’s stock worth $489,554,000 after purchasing an additional 18,064,777 shares in the last quarter. Fourthstone LLC raised its position in shares of Old Point Financial by 322.4% during the fourth quarter. Fourthstone LLC now owns 344,620 shares of the bank’s stock valued at $8,981,000 after buying an additional 263,026 shares during the last quarter. OLD Point Trust & Financial Services N A lifted its holdings in shares of Old Point Financial by 1.1% in the fourth quarter. OLD Point Trust & Financial Services N A now owns 263,439 shares of the bank’s stock worth $6,865,000 after buying an additional 2,901 shares in the last quarter. Geode Capital Management LLC boosted its position 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 worth $874,000 after acquiring an additional 693 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in Old Point Financial by 18.1% during the fourth quarter. Renaissance Technologies LLC now owns 35,929 shares of the bank’s stock valued at $936,000 after acquiring an additional 5,500 shares in the last quarter. Hedge funds and other institutional investors 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.