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

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

Old Point Financial Price Performance

Shares of Old Point Financial stock opened at $29.90 on Wednesday. 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 has a twelve month low of $13.49 and a twelve month high of $30.95. The company has a market cap of $151.83 million, a price-to-earnings ratio of 15.90 and a beta of 0.17. The company’s 50 day moving average is $27.63 and its 200 day moving average is $23.36.

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

Old Point Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Wednesday, March 5th will be given a $0.14 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.56 annualized dividend and a yield of 1.87%. Old Point Financial’s payout ratio is presently 29.79%.

Institutional Trading of Old Point Financial

Hedge funds and other institutional investors have recently modified their holdings of the company. WealthTrak Capital Management LLC purchased a new stake in shares of Old Point Financial in the fourth quarter worth $47,000. Northern Trust Corp increased its stake in shares of Old Point Financial by 35.0% in the fourth quarter. Northern Trust Corp now owns 17,440 shares of the bank’s stock worth $454,000 after purchasing an additional 4,521 shares in the last quarter. Empowered Funds LLC increased its stake in shares of Old Point Financial by 5.4% in the third quarter. Empowered Funds LLC now owns 18,442 shares of the bank’s stock worth $356,000 after purchasing an additional 938 shares in the last quarter. Bridgeway Capital Management LLC increased its stake in shares of Old Point Financial by 1.9% in the fourth quarter. Bridgeway Capital Management LLC now owns 18,951 shares of the bank’s stock worth $494,000 after purchasing an additional 350 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Old Point Financial by 6.5% in the fourth 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 in the last quarter. 33.43% of the stock is 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.