Old Point Financial Co. (NASDAQ:OPOF) Stock Position Increased by PL Capital Advisors LLC

PL Capital Advisors LLC lifted its holdings in shares of Old Point Financial Co. (NASDAQ:OPOF) by 2,506.0% in the fourth quarter, HoldingsChannel reports. The firm owned 18,785,638 shares of the bank’s stock after acquiring an additional 18,064,777 shares during the period. Old Point Financial makes up about 5.7% of PL Capital Advisors LLC’s portfolio, making the stock its 5th biggest holding. PL Capital Advisors LLC owned approximately 3.70% of Old Point Financial worth $489,554,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Empowered Funds LLC raised its stake in Old Point Financial by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 18,442 shares of the bank’s stock valued at $356,000 after purchasing an additional 938 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Old Point Financial by 1.6% during the third quarter. Geode Capital Management LLC now owns 45,205 shares of the bank’s stock worth $874,000 after buying an additional 693 shares in the last quarter. Finally, Fourthstone LLC grew its holdings in shares of Old Point Financial by 44.9% during the third quarter. Fourthstone LLC now owns 81,594 shares of the bank’s stock worth $1,576,000 after buying an additional 25,273 shares in the last quarter. 33.43% of the stock is currently owned by institutional investors and hedge funds.

Old Point Financial Price Performance

OPOF stock opened at $30.08 on Wednesday. The stock has a market capitalization of $152.75 million, a price-to-earnings ratio of 16.00 and a beta of 0.26. 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 Co. has a 52-week low of $13.49 and a 52-week high of $30.20. The stock’s fifty day simple moving average is $25.86 and its 200-day simple moving average is $21.98.

Old Point Financial (NASDAQ:OPOF) last announced its quarterly earnings data 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 company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Wednesday, March 5th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend is Wednesday, March 5th. Old Point Financial’s dividend payout ratio (DPR) is currently 29.79%.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of Old Point Financial in a research note on Sunday. They set a “hold” rating on the stock.

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.