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 note published on Thursday. The brokerage issued a hold rating on the bank’s stock.

Old Point Financial Stock Up 1.6 %

Shares of NASDAQ OPOF opened at $14.55 on Thursday. The firm has a 50-day simple moving average of $16.18 and a two-hundred day simple moving average of $16.85. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.92 and a quick ratio of 0.92. Old Point Financial has a 1 year low of $14.00 and a 1 year high of $23.24. The company has a market cap of $73.04 million, a P/E ratio of 9.45 and a beta of 0.20.

Old Point Financial (NASDAQ:OPOF) last posted its quarterly 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.

Old Point Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Wednesday, March 6th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 3.85%. The ex-dividend date of this dividend was Tuesday, March 5th. Old Point Financial’s dividend payout ratio is presently 36.36%.

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.