Old Point Financial (NASDAQ:OPOF) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of Old Point Financial (NASDAQ:OPOF) in a research note issued to investors on Sunday. The firm set a “hold” rating on the bank’s stock.

Old Point Financial Stock Performance

NASDAQ:OPOF opened at $30.09 on Friday. The firm’s fifty day moving average price is $25.76 and its 200 day moving average price is $21.89. Old Point Financial has a 1-year low of $13.49 and a 1-year high of $30.10. 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 firm has a market cap of $152.80 million, a price-to-earnings ratio of 16.01 and a beta of 0.26.

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

Institutional Investors Weigh In On Old Point Financial

Several institutional investors and hedge funds have recently made changes to their positions in the business. Bridgeway Capital Management LLC boosted its position in shares of Old Point Financial by 1.9% in the 4th quarter. Bridgeway Capital Management LLC now owns 18,951 shares of the bank’s stock worth $494,000 after buying an additional 350 shares in the last quarter. Geode Capital Management LLC boosted its position 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 worth $874,000 after buying an additional 693 shares in the last quarter. Empowered Funds LLC boosted its position 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 worth $356,000 after buying an additional 938 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Old Point Financial by 6.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 20,416 shares of the bank’s stock worth $532,000 after buying an additional 1,246 shares in the last quarter. Finally, WealthTrak Capital Management LLC acquired a new position in Old Point Financial in the 4th quarter valued at about $47,000. 33.43% of the stock is currently 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.