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

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

Old Point Financial Stock Down 2.5 %

Shares of NASDAQ:OPOF opened at $24.50 on Wednesday. Old Point Financial has a 52-week low of $13.49 and a 52-week high of $28.00. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.35. The business has a fifty day moving average of $23.90 and a two-hundred day moving average of $20.37. The stock has a market cap of $124.46 million, a P/E ratio of 15.31 and a beta of 0.26.

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

Old Point Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Wednesday, December 4th were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.29%. Old Point Financial’s dividend payout ratio is currently 35.00%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Eastern Bank acquired a new stake in Old Point Financial during the third quarter worth $57,000. Empowered Funds LLC lifted its stake in shares of 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 purchasing an additional 938 shares during the last quarter. Fourthstone LLC grew its holdings in shares of Old Point Financial by 44.9% during the 3rd quarter. Fourthstone LLC now owns 81,594 shares of the bank’s stock worth $1,576,000 after purchasing an additional 25,273 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of 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 purchasing an additional 693 shares during the last quarter. 33.43% of the stock is currently owned by institutional investors and hedge funds.

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.