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

Stock analysts at StockNews.com started coverage on shares of Old Point Financial (NASDAQ:OPOF) in a report issued on Thursday. The firm set a “hold” rating on the bank’s stock.

Old Point Financial Stock Performance

Shares of OPOF opened at $22.41 on Thursday. The firm’s 50-day moving average price is $20.16 and its 200-day moving average price is $17.88. The firm has a market capitalization of $113.80 million, a price-to-earnings ratio of 14.01 and a beta of 0.29. 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 has a 1-year low of $13.49 and a 1-year high of $23.43.

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

Institutional Investors Weigh In On Old Point Financial

Institutional investors have recently made changes to their positions in the company. Empowered Funds LLC grew its holdings in shares of 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 during the last quarter. Fourthstone LLC lifted its position in Old Point Financial by 44.9% during the third 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 during the period. Eastern Bank bought a new position in Old Point Financial during the third quarter valued at approximately $57,000. Geode Capital Management LLC lifted its position 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 valued at $874,000 after purchasing an additional 693 shares during the period. Finally, PL Capital Advisors LLC lifted its position in Old Point Financial by 19.2% during the second quarter. PL Capital Advisors LLC now owns 720,861 shares of the bank’s stock valued at $10,575,000 after purchasing an additional 116,015 shares during the period. 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.