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

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

Old Point Financial Price Performance

Shares of NASDAQ OPOF opened at $29.50 on Friday. Old Point Financial has a 1-year low of $13.49 and a 1-year high of $29.50. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a fifty day moving average price of $25.20 and a 200 day moving average price of $21.49. The company has a market cap of $149.86 million, a PE ratio of 15.69 and a beta of 0.26.

Old Point Financial (NASDAQ:OPOF) last released its earnings results on Thursday, January 30th. The bank reported $0.57 EPS for the quarter. Old Point Financial had a return on equity of 8.56% and a net margin of 11.08%.

Institutional Trading of Old Point Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. WealthTrak Capital Management LLC purchased a new stake in Old Point Financial during the 4th quarter worth about $47,000. Eastern Bank purchased a new stake in Old Point Financial in the 3rd quarter valued at about $57,000. Northern Trust Corp grew its holdings in Old Point Financial by 35.0% in the 4th quarter. Northern Trust Corp now owns 17,440 shares of the bank’s stock valued at $454,000 after buying an additional 4,521 shares during the period. Empowered Funds LLC grew its holdings in Old Point Financial by 5.4% in the 3rd 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 period. Finally, Bridgeway Capital Management LLC grew its holdings in Old Point Financial by 1.9% in the 4th quarter. Bridgeway Capital Management LLC now owns 18,951 shares of the bank’s stock valued at $494,000 after buying an additional 350 shares during the 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.