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

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

Old Point Financial Price Performance

NASDAQ:OPOF opened at $18.75 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a market cap of $95.18 million, a P/E ratio of 14.88 and a beta of 0.29. Old Point Financial has a fifty-two week low of $13.49 and a fifty-two week high of $20.26. The firm has a 50-day simple moving average of $18.43 and a two-hundred day simple moving average of $16.31.

Old Point Financial (NASDAQ:OPOF) last announced its quarterly earnings results on Thursday, July 25th. The bank reported $0.50 earnings per share for the quarter. Old Point Financial had a net margin of 8.41% and a return on equity of 6.69%. The company had revenue of $15.59 million during the quarter.

Old Point Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Wednesday, September 4th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date was Wednesday, September 4th. Old Point Financial’s payout ratio is currently 44.44%.

Hedge Funds Weigh In On Old Point Financial

A hedge fund recently raised its stake in Old Point Financial stock. Empowered Funds LLC increased its stake in Old Point Financial Co. (NASDAQ:OPOF) by 8.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,244 shares of the bank’s stock after purchasing an additional 1,225 shares during the quarter. Empowered Funds LLC owned 0.32% of Old Point Financial worth $277,000 at the end of the most recent quarter. 33.43% of the stock is owned by hedge funds and other institutional investors.

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.