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

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

Old Point Financial Price Performance

OPOF opened at $20.80 on Monday. The firm has a market capitalization of $105.66 million, a PE ratio of 13.00 and a beta of 0.29. The business’s 50-day moving average is $19.00 and its two-hundred day moving average is $17.10. Old Point Financial has a 1 year low of $13.49 and a 1 year high of $21.89. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.91 and a quick ratio of 0.91.

Old Point Financial (NASDAQ:OPOF) last issued its quarterly earnings data on Thursday, October 24th. The bank reported $0.47 earnings per share (EPS) for the quarter. Old Point Financial had a net margin of 9.47% and a return on equity of 7.50%. The firm had revenue of $15.78 million for the quarter.

Old Point Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Wednesday, September 4th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend was Wednesday, September 4th. Old Point Financial’s dividend payout ratio is currently 35.00%.

Institutional Investors Weigh In On Old Point Financial

A number of large investors have recently modified their holdings of OPOF. Empowered Funds LLC boosted its stake in Old Point Financial by 8.2% in the 1st quarter. Empowered Funds LLC now owns 16,244 shares of the bank’s stock worth $277,000 after purchasing an additional 1,225 shares in the last quarter. Eastern Bank acquired a new stake in shares of Old Point Financial during the third quarter worth $57,000. Finally, PL Capital Advisors LLC lifted its stake in shares of Old Point Financial by 19.2% during the second quarter. PL Capital Advisors LLC now owns 720,861 shares of the bank’s stock worth $10,575,000 after buying an additional 116,015 shares during the period. Hedge funds and other institutional investors 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.