StockNews.com Begins Coverage on Old Point Financial (NASDAQ:OPOF)

StockNews.com started coverage on shares of Old Point Financial (NASDAQ:OPOF) in a research note issued to investors on Monday morning. The brokerage issued a hold rating on the bank’s stock.

Old Point Financial Price Performance

Shares of NASDAQ OPOF opened at $17.25 on Monday. The firm has a market cap of $87.63 million, a PE ratio of 13.69 and a beta of 0.29. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.36. Old Point Financial has a 1-year low of $13.49 and a 1-year high of $20.26. The company has a fifty day moving average price of $17.86 and a 200 day moving average price of $16.16.

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

Old Point Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Wednesday, September 4th will be given a dividend of $0.14 per share. The ex-dividend date is Wednesday, September 4th. This represents a $0.56 annualized dividend and a yield of 3.25%. Old Point Financial’s dividend payout ratio (DPR) is presently 44.44%.

Institutional Investors Weigh In On Old Point Financial

A hedge fund recently raised its stake 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 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,244 shares of the bank’s stock after buying an additional 1,225 shares during the quarter. Empowered Funds LLC owned approximately 0.32% of Old Point Financial worth $277,000 at the end of the most recent reporting period. Hedge funds and other 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.