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

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

Old Point Financial Price Performance

OPOF opened at $37.63 on Tuesday. The firm has a market capitalization of $192.06 million, a P/E ratio of 20.02 and a beta of -0.22. The stock has a fifty day moving average of $30.88 and a 200-day moving average of $25.40. 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 12-month low of $13.49 and a 12-month high of $37.68.

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

Institutional Investors Weigh In On Old Point Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. PL Capital Advisors LLC grew its holdings in shares of Old Point Financial by 2,506.0% during the 4th quarter. PL Capital Advisors LLC now owns 18,785,638 shares of the bank’s stock valued at $489,554,000 after acquiring an additional 18,064,777 shares in the last quarter. Fourthstone LLC boosted its position in Old Point Financial by 322.4% during the fourth quarter. Fourthstone LLC now owns 344,620 shares of the bank’s stock valued at $8,981,000 after purchasing an additional 263,026 shares during the last quarter. OLD Point Trust & Financial Services N A grew its stake in Old Point Financial by 1.1% in 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. Geode Capital Management LLC increased its position in Old Point Financial by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 45,205 shares of the bank’s stock worth $874,000 after purchasing an additional 693 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Old Point Financial by 18.1% during the 4th quarter. Renaissance Technologies LLC now owns 35,929 shares of the bank’s stock worth $936,000 after purchasing an additional 5,500 shares in 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.