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

Investment analysts at StockNews.com initiated coverage on shares of Old Point Financial (NASDAQ:OPOF) in a report released on Monday. The firm set a “hold” rating on the bank’s stock.

Old Point Financial Trading Up 0.8 %

NASDAQ OPOF opened at $20.93 on Monday. The stock’s fifty day moving average price is $18.96 and its 200-day moving average price is $17.07. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.36. The stock has a market cap of $106.30 million, a P/E ratio of 13.08 and a beta of 0.29. Old Point Financial has a 12 month low of $13.49 and a 12 month high of $21.00.

Old Point Financial (NASDAQ:OPOF) last announced its quarterly earnings data on Thursday, October 24th. The bank reported $0.47 EPS for the quarter. The company had revenue of $15.78 million for the quarter. Old Point Financial had a net margin of 9.47% and a return on equity of 7.50%.

Institutional Trading of Old Point Financial

A number of institutional investors and hedge funds have recently modified their holdings of OPOF. PL Capital Advisors LLC lifted its holdings in shares of Old Point Financial by 19.2% during the second quarter. PL Capital Advisors LLC now owns 720,861 shares of the bank’s stock valued at $10,575,000 after purchasing an additional 116,015 shares in the last quarter. Eastern Bank bought a new position in Old Point Financial during the 3rd quarter valued at about $57,000. Finally, Empowered Funds LLC boosted its holdings in shares of Old Point Financial by 8.2% during the 1st quarter. Empowered Funds LLC now owns 16,244 shares of the bank’s stock valued at $277,000 after acquiring an additional 1,225 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.