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

StockNews.com started coverage on shares of Old Point Financial (NASDAQ:OPOF) in a report issued on Sunday morning. The brokerage issued a hold rating on the bank’s stock.

Old Point Financial Stock Performance

Shares of NASDAQ:OPOF opened at $29.80 on Friday. The firm has a 50 day moving average of $25.64 and a 200 day moving average of $21.81. The company has a market capitalization of $151.32 million, a price-to-earnings ratio of 15.85 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. Old Point Financial has a 52 week low of $13.49 and a 52 week high of $30.10.

Old Point Financial (NASDAQ:OPOF) last posted its quarterly earnings results on Thursday, January 30th. The bank reported $0.57 EPS for the quarter. Old Point Financial had a net margin of 11.08% and a return on equity of 8.56%.

Old Point Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Wednesday, March 5th will be issued a $0.14 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.56 dividend on an annualized basis and a yield of 1.88%. Old Point Financial’s payout ratio is 29.79%.

Institutional Trading of Old Point Financial

Several hedge funds have recently made changes to their positions in OPOF. PL Capital Advisors LLC boosted its position in 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 valued at $489,554,000 after buying an additional 18,064,777 shares during the period. Fourthstone LLC increased its stake in shares of Old Point Financial by 322.4% during the fourth quarter. Fourthstone LLC now owns 344,620 shares of the bank’s stock worth $8,981,000 after acquiring an additional 263,026 shares during the period. OLD Point Trust & Financial Services N A increased 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 worth $6,865,000 after acquiring an additional 2,901 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 worth $874,000 after buying an additional 693 shares during the period. Finally, Renaissance Technologies LLC grew its position in shares of Old Point Financial by 18.1% in the fourth quarter. Renaissance Technologies LLC now owns 35,929 shares of the bank’s stock valued at $936,000 after purchasing an additional 5,500 shares during the last quarter. Hedge funds and other institutional investors 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.