Old Point Financial (NASDAQ:OPOF) Posts Quarterly Earnings Results

Old Point Financial (NASDAQ:OPOF) announced its quarterly earnings data on Thursday. The bank reported $0.47 EPS for the quarter, reports. Old Point Financial had a return on equity of 6.69% and a net margin of 8.41%. The firm had revenue of $15.78 million for the quarter.

Old Point Financial Stock Up 3.2 %

OPOF stock opened at $20.33 on Friday. The firm has a market cap of $103.28 million, a PE ratio of 14.52 and a beta of 0.29. Old Point Financial has a one year low of $13.49 and a one year high of $20.33. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.91 and a current ratio of 0.91. The firm’s 50 day moving average price is $18.66 and its 200-day moving average price is $16.59.

Old Point Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Wednesday, September 4th were paid a $0.14 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $0.56 annualized dividend and a dividend yield of 2.75%. Old Point Financial’s dividend payout ratio (DPR) is 40.00%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on shares of Old Point Financial in a research report on Saturday. They set a “hold” rating on the stock.

Institutional Investors Weigh In On Old Point Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Eastern Bank acquired a new position in shares of Old Point Financial in the 3rd quarter valued at $57,000. Empowered Funds LLC raised its holdings in Old Point Financial by 8.2% in the 1st quarter. Empowered Funds LLC now owns 16,244 shares of the bank’s stock valued at $277,000 after buying an additional 1,225 shares during the period. Finally, PL Capital Advisors LLC raised its holdings in Old Point Financial by 19.2% in the 2nd quarter. PL Capital Advisors LLC now owns 720,861 shares of the bank’s stock valued at $10,575,000 after buying an additional 116,015 shares during the period. Hedge funds and other institutional investors own 33.43% of the company’s stock.

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.