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 released on Monday. The firm set a “hold” rating on the bank’s stock.

Old Point Financial Trading Down 1.5 %

OPOF stock opened at $25.51 on Monday. The company has a market capitalization of $129.54 million, a PE ratio of 15.94 and a beta of 0.26. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.92 and a quick ratio of 0.92. Old Point Financial has a 12 month low of $13.49 and a 12 month high of $28.00. The firm’s 50-day moving average is $22.83 and its 200 day moving average is $19.59.

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

Institutional Trading of Old Point Financial

Hedge funds have recently added to or reduced their stakes in the business. Eastern Bank bought a new stake in shares of Old Point Financial in the 3rd quarter valued at about $57,000. Empowered Funds LLC boosted its position in Old Point Financial by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 18,442 shares of the bank’s stock valued at $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 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 in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Old Point Financial by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 45,205 shares of the bank’s stock valued at $874,000 after acquiring an additional 693 shares during the period. 33.43% of the stock is owned by hedge funds and other institutional investors.

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.