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

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

Old Point Financial Price Performance

Shares of NASDAQ OPOF opened at $25.05 on Tuesday. The company has a fifty day moving average price of $23.26 and a 200 day moving average price of $19.91. Old Point Financial has a 1-year low of $13.49 and a 1-year high of $28.00. The firm has a market cap of $127.20 million, a PE ratio of 15.66 and a beta of 0.26. 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 (NASDAQ:OPOF) last posted its quarterly earnings data on Thursday, October 24th. The bank reported $0.47 earnings per share for the quarter. Old Point Financial had a return on equity of 7.38% and a net margin of 9.47%. The company had revenue of $15.78 million during the quarter.

Old Point Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Wednesday, December 4th were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date was Wednesday, December 4th. Old Point Financial’s dividend payout ratio is presently 35.00%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in OPOF. Geode Capital Management LLC lifted its position 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 buying an additional 693 shares in the last quarter. Empowered Funds LLC raised 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 acquiring an additional 938 shares in the last quarter. Fourthstone LLC boosted 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 last quarter. Finally, Eastern Bank acquired a new position in Old Point Financial during the third quarter valued at approximately $57,000. 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.