Old Point Financial (NASDAQ:OPOF) Receives New Coverage from Analysts at StockNews.com

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

Old Point Financial Price Performance

Shares of OPOF stock traded up $0.53 during trading hours on Thursday, hitting $19.45. 843 shares of the company’s stock were exchanged, compared to its average volume of 2,795. Old Point Financial has a 52 week low of $13.49 and a 52 week high of $20.26. The stock has a market cap of $98.81 million, a price-to-earnings ratio of 13.89 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. The stock’s 50-day moving average is $18.45 and its 200-day moving average is $16.38.

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

Old Point Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Wednesday, September 4th were given a dividend of $0.14 per share. The ex-dividend date was Wednesday, September 4th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.88%. Old Point Financial’s payout ratio is currently 40.00%.

Institutional Trading of Old Point Financial

A hedge fund recently raised its stake in Old Point Financial stock. Empowered Funds LLC raised its holdings in shares of Old Point Financial Co. (NASDAQ:OPOF) by 8.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 16,244 shares of the bank’s stock after acquiring an additional 1,225 shares during the period. Empowered Funds LLC owned approximately 0.32% of Old Point Financial worth $277,000 at the end of the most recent reporting period. 33.43% of the stock is owned by hedge funds and other institutional investors.

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.