Old Point Financial (NASDAQ:OPOF) Earns Hold Rating from Analysts at StockNews.com

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

Old Point Financial Stock Up 2.5 %

Shares of OPOF opened at $20.75 on Monday. The business’s 50 day simple moving average is $18.92 and its 200-day simple moving average is $17.03. Old Point Financial has a 1 year low of $13.49 and a 1 year high of $21.00. The stock has a market capitalization of $105.41 million, a price-to-earnings ratio of 12.97 and a beta of 0.29. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.91 and a quick ratio of 0.91.

Old Point Financial (NASDAQ:OPOF) last posted its quarterly earnings results on Thursday, October 24th. The bank reported $0.47 earnings per share (EPS) for the quarter. Old Point Financial had a return on equity of 7.50% and a net margin of 9.47%. The business had revenue of $15.78 million for the quarter.

Old Point Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Wednesday, September 4th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 2.70%. The ex-dividend date was Wednesday, September 4th. Old Point Financial’s payout ratio is 35.00%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of OPOF. Empowered Funds LLC boosted its stake in Old Point Financial by 8.2% during the first quarter. Empowered Funds LLC now owns 16,244 shares of the bank’s stock worth $277,000 after buying an additional 1,225 shares during the last quarter. PL Capital Advisors LLC raised its position in Old Point Financial by 19.2% in the second quarter. PL Capital Advisors LLC now owns 720,861 shares of the bank’s stock valued at $10,575,000 after purchasing an additional 116,015 shares during the period. Finally, Eastern Bank purchased a new stake in Old Point Financial in the third quarter valued at $57,000. 33.43% of the stock is currently owned by hedge funds and other institutional investors.

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.