Old Point Financial (NASDAQ:OPOF) Shares Pass Above 200 Day Moving Average – Here’s What Happened

Old Point Financial Corporation (NASDAQ:OPOF) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $32.80 and traded as high as $40.68. Old Point Financial shares last traded at $40.68, with a volume of 78,307 shares trading hands.

Wall Street Analyst Weigh In

Separately, Wall Street Zen started coverage on Old Point Financial in a research note on Tuesday, April 15th. They issued a “hold” rating on the stock.

Old Point Financial Trading Up 1.4%

The company’s 50-day moving average is $39.60 and its 200-day moving average is $32.80. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market cap of $207.87 million, a price-to-earnings ratio of 20.76 and a beta of -0.31.

Old Point Financial (NASDAQ:OPOF) last announced its earnings results on Wednesday, April 30th. The bank reported $0.39 earnings per share for the quarter. Old Point Financial had a net margin of 11.52% and a return on equity of 8.58%. The company had revenue of $15.86 million during the quarter.

Old Point Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 9th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.56 dividend on an annualized basis and a yield of 1.38%. Old Point Financial’s payout ratio is presently 28.57%.

Institutional Investors Weigh In On Old Point Financial

Several institutional investors have recently modified their holdings of OPOF. Fourthstone LLC boosted its stake in Old Point Financial by 322.4% in the fourth quarter. Fourthstone LLC now owns 344,620 shares of the bank’s stock valued at $8,981,000 after acquiring an additional 263,026 shares during the last quarter. Jane Street Group LLC bought a new position in Old Point Financial in the first quarter valued at approximately $392,000. Goldman Sachs Group Inc. bought a new position in Old Point Financial in the first quarter valued at approximately $339,000. Renaissance Technologies LLC boosted its stake in 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 acquiring an additional 5,500 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in Old Point Financial by 35.0% in the fourth quarter. Northern Trust Corp now owns 17,440 shares of the bank’s stock valued at $454,000 after acquiring an additional 4,521 shares during the last quarter. Institutional investors and hedge funds 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.