Old Point Financial (NASDAQ:OPOF) Now Covered by Analysts at StockNews.com

StockNews.com started coverage on shares of Old Point Financial (NASDAQ:OPOFFree Report) in a research note released on Friday morning. The brokerage issued a hold rating on the bank’s stock.

Old Point Financial Trading Up 2.2 %

NASDAQ:OPOF opened at $14.67 on Friday. The stock has a market cap of $74.46 million, a price-to-earnings ratio of 11.64 and a beta of 0.29. Old Point Financial has a one year low of $13.49 and a one year high of $22.33. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.93. The business’s 50-day simple moving average is $14.52 and its 200 day simple moving average is $16.17.

Old Point Financial (NASDAQ:OPOFGet Free Report) last announced its earnings results on Tuesday, April 30th. The bank reported $0.34 earnings per share (EPS) for the quarter. Old Point Financial had a return on equity of 6.11% and a net margin of 7.71%. The company had revenue of $14.76 million for the quarter.

Old Point Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Wednesday, June 5th were paid a $0.14 dividend. The ex-dividend date of this dividend was Wednesday, June 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.82%. Old Point Financial’s dividend payout ratio (DPR) is presently 44.44%.

Insider Transactions at Old Point Financial

In other news, major shareholder Pl Capital Advisors, Llc acquired 17,403 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were purchased at an average price of $14.25 per share, for a total transaction of $247,992.75. Following the completion of the purchase, the insider now directly owns 622,249 shares of the company’s stock, valued at approximately $8,867,048.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders have purchased 111,555 shares of company stock valued at $1,642,355. Insiders own 21.11% of the company’s stock.

Hedge Funds Weigh In On Old Point Financial

An institutional investor recently raised its stake in Old Point Financial stock. Empowered Funds LLC boosted its stake in shares of Old Point Financial Co. (NASDAQ:OPOFFree Report) by 8.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,244 shares of the bank’s stock after purchasing an additional 1,225 shares during the quarter. Empowered Funds LLC owned approximately 0.32% of Old Point Financial worth $277,000 at the end of the most recent reporting period. 33.43% of the stock is owned by institutional investors and hedge funds.

About Old Point Financial

(Get Free Report)

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.

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