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

StockNews.com initiated coverage on shares of Old Point Financial (NASDAQ:OPOF) in a research note released on Thursday morning. The firm issued a hold rating on the bank’s stock.

Old Point Financial Stock Up 5.3 %

OPOF opened at $14.53 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65. Old Point Financial has a 1-year low of $13.49 and a 1-year high of $22.33. The company has a market capitalization of $73.81 million, a PE ratio of 11.53 and a beta of 0.29. The firm’s 50 day simple moving average is $14.57 and its two-hundred day simple moving average is $16.26.

Old Point Financial (NASDAQ:OPOF) last announced its quarterly earnings data on Tuesday, April 30th. The bank reported $0.34 EPS for the quarter. The firm had revenue of $14.76 million for the quarter. Old Point Financial had a net margin of 7.71% and a return on equity of 6.11%.

Old Point Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Wednesday, June 5th will be given a dividend of $0.14 per share. The ex-dividend date is Wednesday, June 5th. This represents a $0.56 annualized dividend and a dividend yield of 3.85%. Old Point Financial’s payout ratio is 44.44%.

Insider Activity

In related news, major shareholder Pl Capital Advisors, Llc purchased 1,799 shares of Old Point Financial stock in a transaction on Tuesday, May 28th. The shares were bought at an average cost of $14.92 per share, for a total transaction of $26,841.08. Following the acquisition, the insider now owns 627,020 shares in the company, valued at approximately $9,355,138.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have bought 111,555 shares of company stock worth $1,642,355 in the last three months. Company insiders own 21.11% of the company’s stock.

Institutional Trading of Old Point Financial

A hedge fund recently raised its stake in Old Point Financial stock. Empowered Funds LLC grew its holdings in Old Point Financial Co. (NASDAQ:OPOF) by 8.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,244 shares of the bank’s stock after buying an additional 1,225 shares during the period. Empowered Funds LLC owned approximately 0.32% of Old Point Financial worth $277,000 as of its most recent filing with the Securities & Exchange Commission. 33.43% of the stock is owned by institutional investors and hedge funds.

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.