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

StockNews.com started coverage on shares of Old Point Financial (NASDAQ:OPOF) in a research report sent to investors on Saturday. The firm issued a hold rating on the bank’s stock.

Old Point Financial Trading Up 9.3 %

Shares of NASDAQ:OPOF opened at $29.50 on Friday. The stock has a market capitalization of $149.86 million, a price-to-earnings ratio of 15.69 and a beta of 0.26. Old Point Financial has a 1-year low of $13.49 and a 1-year high of $29.50. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.92 and a current ratio of 0.92. The company has a 50 day moving average price of $25.08 and a 200 day moving average price of $21.40.

Old Point Financial (NASDAQ:OPOF) last issued its quarterly earnings results on Thursday, January 30th. The bank reported $0.57 EPS for the quarter. Old Point Financial had a net margin of 11.08% and a return on equity of 8.56%.

Old Point Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Wednesday, December 4th were given a $0.14 dividend. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $0.56 annualized dividend and a dividend yield of 1.90%. Old Point Financial’s dividend payout ratio (DPR) is presently 29.79%.

Institutional Investors Weigh In On Old Point Financial

Several hedge funds have recently made changes to their positions in OPOF. Eastern Bank purchased a new stake in shares of Old Point Financial in the 3rd quarter valued at approximately $57,000. Empowered Funds LLC lifted its position in Old Point Financial by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 18,442 shares of the bank’s stock worth $356,000 after buying an additional 938 shares in the last quarter. Fourthstone LLC lifted its position in Old Point Financial by 44.9% in the 3rd 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. Geode Capital Management LLC lifted its position in Old Point Financial by 1.6% in the 3rd 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, PL Capital Advisors LLC lifted its position in Old Point Financial by 2,506.0% in the 4th quarter. PL Capital Advisors LLC now owns 18,785,638 shares of the bank’s stock worth $489,554,000 after buying an additional 18,064,777 shares in the last quarter. 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.