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

StockNews.com assumed coverage on shares of Old Point Financial (NASDAQ:OPOF) in a research note published on Friday. The brokerage issued a hold rating on the bank’s stock.

Old Point Financial Price Performance

Old Point Financial stock opened at $19.25 on Friday. Old Point Financial has a one year low of $13.49 and a one year high of $20.26. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.91 and a quick ratio of 0.91. The stock’s 50 day moving average is $18.53 and its 200 day moving average is $16.46. The firm has a market cap of $97.71 million, a P/E ratio of 15.28 and a beta of 0.29.

Old Point Financial (NASDAQ:OPOF) last issued its quarterly earnings results on Thursday, July 25th. The bank reported $0.50 earnings per share (EPS) for the quarter. Old Point Financial had a return on equity of 6.69% and a net margin of 8.41%. The firm had revenue of $15.59 million for the quarter.

Old Point Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Wednesday, September 4th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend was Wednesday, September 4th. Old Point Financial’s dividend payout ratio (DPR) is presently 44.44%.

Hedge Funds Weigh In On Old Point Financial

An institutional investor recently raised its position in Old Point Financial stock. PL Capital Advisors LLC grew its position in shares of Old Point Financial Co. (NASDAQ:OPOF) by 19.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 720,861 shares of the bank’s stock after acquiring an additional 116,015 shares during the quarter. Old Point Financial comprises 4.4% of PL Capital Advisors LLC’s holdings, making the stock its 7th largest holding. PL Capital Advisors LLC owned 14.19% of Old Point Financial worth $10,575,000 at the end of the most recent reporting period. 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.