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 report released on Saturday. The brokerage set a “hold” rating on the bank’s stock.

Old Point Financial Stock Up 4.5 %

NASDAQ OPOF opened at $19.59 on Friday. The business’s 50-day moving average is $17.14 and its 200 day moving average is $16.09. The stock has a market capitalization of $99.41 million, a PE ratio of 15.54 and a beta of 0.28. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.91 and a quick ratio of 0.91. Old Point Financial has a 1 year low of $13.49 and a 1 year high of $20.26.

Old Point Financial (NASDAQ:OPOF) last issued its quarterly earnings data on Thursday, July 25th. The bank reported $0.50 earnings per share for the quarter. Old Point Financial had a return on equity of 6.69% and a net margin of 8.41%. The firm had revenue of $15.59 million for the quarter.

Insider Activity

In related news, major shareholder Pl Capital Advisors, Llc purchased 3,100 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was bought at an average cost of $15.00 per share, with a total value of $46,500.00. Following the completion of the purchase, the insider now directly owns 630,120 shares in the company, valued at $9,451,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders have purchased 91,542 shares of company stock valued at $1,360,862. Corporate insiders own 21.11% of the company’s stock.

Institutional Investors Weigh In On Old Point Financial

An institutional investor recently raised its position in Old Point Financial stock. Empowered Funds LLC grew its holdings in shares of Old Point Financial Co. (NASDAQ:OPOF) by 8.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,244 shares of the bank’s stock after buying an additional 1,225 shares during the period. Empowered Funds LLC owned 0.32% of Old Point Financial worth $277,000 as of its most recent SEC filing. 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.