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

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

Old Point Financial Stock Up 0.2 %

Shares of NASDAQ OPOF opened at $25.90 on Monday. Old Point Financial has a 52-week low of $13.49 and a 52-week high of $28.00. The firm has a market capitalization of $131.52 million, a price-to-earnings ratio of 16.19 and a beta of 0.26. The stock has a 50 day moving average price of $22.72 and a 200 day moving average price of $19.52. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.92 and a current ratio of 0.92.

Old Point Financial (NASDAQ:OPOF) last announced its quarterly earnings results on Thursday, October 24th. The bank reported $0.47 earnings per share for the quarter. The firm had revenue of $15.78 million during the quarter. Old Point Financial had a net margin of 9.47% and a return on equity of 7.38%.

Old Point Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Wednesday, December 4th were paid a $0.14 dividend. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $0.56 annualized dividend and a yield of 2.16%. Old Point Financial’s dividend payout ratio (DPR) is 35.00%.

Institutional Investors Weigh In On Old Point Financial

Several institutional investors have recently added to or reduced their stakes in the business. Eastern Bank purchased a new stake in Old Point Financial during the 3rd quarter valued at about $57,000. Empowered Funds LLC grew its stake in shares of Old Point Financial by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 18,442 shares of the bank’s stock worth $356,000 after purchasing an additional 938 shares during the period. Geode Capital Management LLC grew its position in Old Point Financial by 1.6% during the third quarter. Geode Capital Management LLC now owns 45,205 shares of the bank’s stock valued at $874,000 after buying an additional 693 shares during the period. Finally, Fourthstone LLC increased its stake in shares of Old Point Financial by 44.9% in the 3rd quarter. Fourthstone LLC now owns 81,594 shares of the bank’s stock valued at $1,576,000 after purchasing an additional 25,273 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.