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

StockNews.com assumed coverage on shares of Old Point Financial (NASDAQ:OPOF) in a report released on Monday morning. The firm issued a hold rating on the bank’s stock.

Old Point Financial Stock Performance

Shares of NASDAQ OPOF opened at $17.44 on Monday. The company’s fifty day moving average price is $18.01 and its 200 day moving average price is $16.16. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.91 and a current ratio of 0.91. Old Point Financial has a 1 year low of $13.49 and a 1 year high of $20.26. The company has a market capitalization of $88.60 million, a PE ratio of 13.94 and a beta of 0.29.

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

Old Point Financial Dividend Announcement

The business also recently disclosed 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. This represents a $0.56 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date is Wednesday, September 4th. Old Point Financial’s dividend payout ratio is presently 44.44%.

Institutional Trading of Old Point Financial

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

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.