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

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

Old Point Financial Stock Performance

Shares of Old Point Financial stock opened at $25.30 on Tuesday. The stock has a market capitalization of $128.47 million, a P/E ratio of 15.81 and a beta of 0.26. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.35. The company has a 50-day simple moving average of $23.15 and a 200 day simple moving average of $19.83. Old Point Financial has a 12-month low of $13.49 and a 12-month high of $28.00.

Old Point Financial (NASDAQ:OPOF) last announced its earnings results on Thursday, October 24th. The bank reported $0.47 earnings per share (EPS) for the quarter. The business 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%.

Institutional Investors Weigh In On Old Point Financial

A number of hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its holdings in Old Point Financial by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 45,205 shares of the bank’s stock worth $874,000 after acquiring an additional 693 shares during the last quarter. Empowered Funds LLC grew its holdings in 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 acquiring an additional 938 shares during the last quarter. Eastern Bank bought a new stake in Old Point Financial during the 3rd quarter worth about $57,000. Finally, Fourthstone LLC grew its holdings in Old Point Financial by 44.9% during the 3rd quarter. Fourthstone LLC now owns 81,594 shares of the bank’s stock worth $1,576,000 after acquiring an additional 25,273 shares during the last quarter. 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.