Old Point Financial (NASDAQ:OPOF) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of Old Point Financial (NASDAQ:OPOF) from a hold rating to a buy rating in a research report released on Thursday.

Old Point Financial Trading Up 0.4 %

Shares of OPOF opened at $30.02 on Thursday. Old Point Financial has a twelve month low of $13.49 and a twelve month high of $30.95. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.35. The company’s fifty day simple moving average is $28.02 and its 200-day simple moving average is $23.68. The company has a market cap of $152.44 million, a P/E ratio of 15.97 and a beta of 0.17.

Old Point Financial (NASDAQ:OPOF) last posted its quarterly earnings data on Thursday, January 30th. The bank reported $0.57 earnings per share 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Wednesday, March 5th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend is Wednesday, March 5th. Old Point Financial’s payout ratio is currently 29.79%.

Institutional Trading of Old Point Financial

Institutional investors and hedge funds have recently made changes to their positions in the business. Fourthstone LLC lifted its stake in Old Point Financial by 44.9% in the third 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 period. Geode Capital Management LLC raised its holdings in shares of Old Point Financial by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 45,205 shares of the bank’s stock valued at $874,000 after purchasing an additional 693 shares in the last quarter. PL Capital Advisors LLC lifted its position in shares of 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 purchasing an additional 18,064,777 shares during the period. OLD Point Trust & Financial Services N A boosted its stake in shares of Old Point Financial by 1.1% during the fourth quarter. OLD Point Trust & Financial Services N A now owns 263,439 shares of the bank’s stock valued at $6,865,000 after purchasing an additional 2,901 shares in the last quarter. Finally, WealthTrak Capital Management LLC purchased a new position in Old Point Financial during the fourth quarter valued at approximately $47,000. 33.43% of the stock is currently owned by institutional investors.

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.