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

StockNews.com started coverage on shares of Old Point Financial (NASDAQ:OPOF) in a research report released on Saturday morning. The brokerage issued a hold rating on the bank’s stock.

Old Point Financial Stock Up 0.1 %

OPOF stock opened at $24.88 on Friday. Old Point Financial has a one year low of $13.49 and a one year high of $25.50. The stock has a market capitalization of $126.34 million, a P/E ratio of 15.55 and a beta of 0.29. The company has a 50 day moving average price of $21.40 and a two-hundred day moving average price of $18.62. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.92 and a current ratio of 0.92.

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

Old Point Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Wednesday, December 4th will be given a $0.14 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $0.56 annualized dividend and a dividend yield of 2.25%. Old Point Financial’s dividend payout ratio is presently 35.00%.

Hedge Funds Weigh In On Old Point Financial

Several institutional investors and hedge funds have recently bought and sold shares of OPOF. Eastern Bank acquired a new position in shares of Old Point Financial in the 3rd quarter valued at $57,000. Empowered Funds LLC raised its position in shares of Old Point Financial by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 18,442 shares of the bank’s stock worth $356,000 after buying an additional 938 shares during the period. Fourthstone LLC boosted its holdings in Old Point Financial by 44.9% in the third quarter. Fourthstone LLC now owns 81,594 shares of the bank’s stock valued at $1,576,000 after acquiring an additional 25,273 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Old Point Financial by 1.6% during the third quarter. Geode Capital Management LLC now owns 45,205 shares of the bank’s stock valued at $874,000 after acquiring an additional 693 shares during the period. 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.