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

Equities researchers at StockNews.com initiated coverage on shares of Old Point Financial (NASDAQ:OPOF) in a research note issued to investors on Saturday. The brokerage set a “hold” rating on the bank’s stock.

Old Point Financial Price Performance

NASDAQ OPOF opened at $24.88 on Friday. The stock has a market capitalization of $126.34 million, a PE ratio of 15.55 and a beta of 0.29. The company has a 50 day moving average price of $21.40 and a two-hundred day moving average price of $18.65. Old Point Financial has a 12-month low of $13.49 and a 12-month high of $25.50. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.35.

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

Institutional Investors Weigh In On Old Point Financial

Several institutional investors and hedge funds have recently made changes to their positions in OPOF. Eastern Bank bought a new position in Old Point Financial in the 3rd quarter worth approximately $57,000. Empowered Funds LLC boosted its holdings in Old Point Financial by 5.4% during the third quarter. Empowered Funds LLC now owns 18,442 shares of the bank’s stock worth $356,000 after buying an additional 938 shares during the last quarter. Fourthstone LLC increased 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 acquiring an additional 25,273 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Old Point Financial by 1.6% during the 3rd 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. Institutional investors and hedge funds 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.