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

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

Old Point Financial Stock Up 0.7 %

Old Point Financial stock opened at $24.64 on Friday. The company has a market cap of $125.17 million, a P/E ratio of 15.40 and a beta of 0.29. Old Point Financial has a 1-year low of $13.49 and a 1-year high of $25.00. The company has a fifty day simple moving average of $20.86 and a 200 day simple moving average of $18.34. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.35.

Old Point Financial (NASDAQ:OPOF) last released its earnings results on Thursday, October 24th. The bank reported $0.47 earnings per share for the quarter. The business had revenue of $15.78 million during the quarter. Old Point Financial had a net margin of 9.47% and a return on equity of 7.38%.

Old Point Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Wednesday, December 4th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend is Wednesday, December 4th. Old Point Financial’s dividend payout ratio is currently 35.00%.

Institutional Trading of Old Point Financial

Large investors have recently added to or reduced their stakes in the company. Empowered Funds LLC lifted its stake in Old Point Financial by 5.4% in the third quarter. Empowered Funds LLC now owns 18,442 shares of the bank’s stock valued at $356,000 after acquiring an additional 938 shares during the last quarter. Fourthstone LLC lifted its stake in shares of Old Point Financial by 44.9% during the 3rd quarter. Fourthstone LLC now owns 81,594 shares of the bank’s stock worth $1,576,000 after buying an additional 25,273 shares during the last quarter. Eastern Bank acquired a new stake in shares of Old Point Financial during the 3rd quarter worth about $57,000. Finally, Geode Capital Management LLC lifted its stake in shares of Old Point Financial by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 45,205 shares of the bank’s stock worth $874,000 after buying an additional 693 shares during the last quarter. Institutional investors and hedge funds 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.