Old Point Financial (NASDAQ:OPOF) Upgraded to “Buy” at StockNews.com

Old Point Financial (NASDAQ:OPOF) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.

Old Point Financial Price Performance

Old Point Financial stock opened at $29.94 on Thursday. The firm has a market capitalization of $152.04 million, a PE ratio of 15.93 and a beta of 0.17. Old Point Financial has a 52 week low of $13.49 and a 52 week high of $30.95. The firm’s 50-day simple moving average is $28.12 and its 200 day simple moving average is $23.77. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.35.

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

Hedge Funds Weigh In On Old Point Financial

Institutional investors have recently made changes to their positions in the stock. WealthTrak Capital Management LLC acquired a new stake in shares of Old Point Financial during the fourth quarter valued at $47,000. Northern Trust Corp lifted its holdings in Old Point Financial by 35.0% in the 4th quarter. Northern Trust Corp now owns 17,440 shares of the bank’s stock valued at $454,000 after purchasing an additional 4,521 shares in the last quarter. Bridgeway Capital Management LLC boosted its stake in shares of Old Point Financial by 1.9% during the 4th quarter. Bridgeway Capital Management LLC now owns 18,951 shares of the bank’s stock worth $494,000 after purchasing an additional 350 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Old Point Financial by 6.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 20,416 shares of the bank’s stock worth $532,000 after purchasing an additional 1,246 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Old Point Financial by 1.6% during the third 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. 33.43% of the stock is 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.