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

Analysts at StockNews.com started coverage on shares of Old Point Financial (NASDAQ:OPOF) in a research note issued to investors on Wednesday. The brokerage set a “hold” rating on the bank’s stock.

Old Point Financial Price Performance

Old Point Financial stock opened at $14.66 on Wednesday. The firm’s 50-day moving average is $16.49 and its two-hundred day moving average is $16.98. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market capitalization of $73.89 million, a P/E ratio of 9.52 and a beta of 0.20. Old Point Financial has a 12-month low of $14.00 and a 12-month high of $23.88.

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

Hedge Funds Weigh In On Old Point Financial

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Morgan Stanley increased its holdings in shares of Old Point Financial by 6.3% during the 4th quarter. Morgan Stanley now owns 8,731 shares of the bank’s stock worth $236,000 after buying an additional 514 shares during the last quarter. Northern Trust Corp purchased a new position in shares of Old Point Financial in the 4th quarter worth about $259,000. Renaissance Technologies LLC lifted its stake in shares of Old Point Financial by 18.8% in the 2nd 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 in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Old Point Financial by 5.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 21,868 shares of the bank’s stock worth $521,000 after purchasing an additional 1,215 shares during the period. Finally, State Street Corp increased its position in Old Point Financial by 10.6% during the 2nd quarter. State Street Corp now owns 22,076 shares of the bank’s stock worth $558,000 after purchasing an additional 2,122 shares in the last quarter. Institutional investors and hedge funds 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.