StockNews.com Initiates Coverage on Old Point Financial (NASDAQ:OPOF)

StockNews.com initiated coverage on shares of Old Point Financial (NASDAQ:OPOF) in a research report issued to clients and investors on Wednesday. The firm set a “hold” rating on the bank’s stock.

Old Point Financial Price Performance

Shares of Old Point Financial stock opened at $14.66 on Wednesday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.65. The firm has a fifty day simple moving average of $16.49 and a 200-day simple moving average of $16.98. The stock has a market capitalization of $73.89 million, a price-to-earnings ratio of 9.52 and a beta of 0.20. Old Point Financial has a 1-year low of $14.00 and a 1-year high of $23.88.

Old Point Financial (NASDAQ:OPOF) last released its earnings results on Tuesday, January 30th. The bank reported $0.29 earnings per share for the quarter. Old Point Financial had a net margin of 9.60% and a return on equity of 7.51%. The firm had revenue of $15.35 million during the quarter.

Hedge Funds Weigh In On Old Point Financial

A number of institutional investors and hedge funds have recently bought and sold shares of OPOF. Vanguard Group Inc. grew its position in Old Point Financial by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 183,608 shares of the bank’s stock worth $3,292,000 after purchasing an additional 4,627 shares during the last quarter. Bridgeway Capital Management LLC raised its holdings in Old Point Financial by 4.3% in the 4th quarter. Bridgeway Capital Management LLC now owns 32,319 shares of the bank’s stock valued at $573,000 after acquiring an additional 1,344 shares in the last quarter. Northern Trust Corp bought a new stake in shares of Old Point Financial in the 4th quarter worth approximately $259,000. Renaissance Technologies LLC increased its position in shares of Old Point Financial by 18.8% during the second quarter. Renaissance Technologies LLC now owns 27,135 shares of the bank’s stock valued at $471,000 after purchasing an additional 4,300 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Old Point Financial by 16.5% during the second quarter. Geode Capital Management LLC now owns 36,564 shares of the bank’s stock valued at $634,000 after purchasing an additional 5,184 shares during the period. Institutional investors own 33.43% of the company’s 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.